◈ Oracle Prep Sign Up Free

O-LevelCommerceCredit7100/12 · Oct/Nov 2023 · Q371 Mark

Jamal requires a loan of $200000 to purchase a property for his business. Which question would a bank consider to be the most important before agreeing to the loan?

AAre you aware of the interest charges on loans?

BDo you have a current account with the bank?

CHow long will you take to repay the loan?

DWhat collateral security can you provide against the loan?

✓ Correct answer

D: What collateral security can you provide against the loan?

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Credit and see which topics are most likely to come up next.

Sign up free →

About this question

Topic: Credit, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2023 Paper 1 Variant 2, question 37.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Commerce questions

CreditMay/June 20171m

What is an advantage to a department store of offering a store card?

CreditMay/June 20171m

Shanshan wishes to buy a bedroom suite that is on offer for $1800. If she pays cash, a discount of 20% will be given.…

CreditMay/June 20181m

Which situation is an example of a credit sale?

Consumer protectionMay/June 20131m

Why might a consumer protection organisation advertise?

Wholesale tradeMay/June 20131m

A retailer is most likely to use a wholesaler when

Wholesale tradeMay/June 20131m

Wholesalers link manufacturers and retailers by providing services. Which group of wholesaling services are provided …

← Browse all past-paper questions