A single-payment loan:
A)is generally unsecured and does not have any collateral.
B)usually matures in one year or less.
C)is usually provided by retailers.
D)is generally used to finance auto purchases.
E)is provided by sales finance companies.

Question

Quizplus · Accepted Answer

A single-payment loan usually matures in one year or less, which means it is a short-term loan. The other options listed in the question, such as being unsecured, used for auto purchases, or provided by retailers or sales finance companies, are not necessarily characteristics of a single-payment loan.

A Single-Payment Loan