What happens when you default on a car loan where your Title is held as collateral?
A) You damage your credit history but you keep the car.
B) You lose the car and damage your credit history.
C) You face liability under the deficiency payments clause.
D) Only choices B and C are correct.
E) All of the above choices are correct.
Answer: D
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The practice of hiring relatives is known as
A. family-based hiring. B. inverted familial diversification. C. re-recruiting. D. nepotism.
While running the college magazine called Student, Branson’s greatest leadership success
a. was due to the fun atmosphere he created for students working on the magazine b. was the professional, serious culture he brought to a magazine that had been running more like a student club—he made it run more like a business instead c. his recognition that money is a motivator, and that the student workers needed to be paid salaries comparable to that of professional reporters d. his knowledge of accounting and finance, which the English and Music majors working on the magazine lacked
Cathy is an accountant with Discount Retail Corporation. Efrem buys Discount Retail stock and loses money on the investment. To recover from Cathy under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5, Efrem must prove
a. only the purchase and sale of a security. b. fraud, reliance, materiality, and lack of knowledge about securities. c. fraud, reliance, materiality, and incompetence. d. fraud, reliance, materiality, causation, and scienter.
The effective cost to the borrower of an unsecured bank loan is increased if a compensating balance
is required. Indicate whether the statement is true or false