Short-Term Borrowing for Unsecured & Secured Loans


Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Choose a possible consequence on a company for NOT paying its unsecured loan.

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Maria owns a small shop and would wish to expand her business by applying for a loan.

Choose the type of loan that would be most appropriate for Maria's business.

2. How is a long-term loan different from a short-term loan?

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About This Quiz & Worksheet

The quiz will test you on how well you understand short-term loan borrowing. Specific information you should focus your studies on include a loan that lasts for a year and a loan that takes 15 years to pay back.

Quiz & Worksheet Goals

Take this quiz to test your understanding of:

  • A loan that has collateral
  • A loan that lasts for a year
  • The safest type of loan for a company
  • Type of loan that allows someone to save money on interest

Skills Practiced

  • Information recall - access the knowledge you've gained regarding the safest type of loan for a company
  • Critical thinking - apply relevant concepts to examine information about a loan that has collateral
  • Reading comprehension - ensure that you draw the most important information from the related lesson on short-term loan borrowing

Additional Learning

Watch or read the accompanying lesson called Short-Term Borrowing for Unsecured & Secured Loans to learn more about these types of loans. In this lesson, you will:

  • Recall what a business loan is and why it is needed
  • Distinguish the differences between a short-term and long-term loan
  • Identify the benefits of using an unsecured loan
  • Learn what occurs if secured loans are not paid