Collateral: Definition, Types & Examples - Quiz & Worksheet


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

question 1 of 3

Collateral is prominent in which of the following areas?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 84,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. Define the lending-based concept of collateral.

2. Which of the following is NOT one of the five main types of collateral?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

There are many sources of collateral that may be used in a variety of situations. This quiz and worksheet will see if you understand what collateral is and also test your ability to identify the types.

Quiz & Worksheet Goals

The multiple-choice assessment will test you on the following:

  • Where collateral is prominent
  • Definition of collateral
  • Five main types of collateral
  • Characteristics of collateral
  • What property on paper includes

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related types of collateral lesson
  • Defining key concepts - make sure that you can accurately define main phrases, such as property on paper and collateral
  • Information recall - access your knowledge of what the kinds of lending situations in which collateral is prominent

Additional Learning

To get more information about this subject, have a look at our lesson called Collateral: Definition, Types & Examples. The objectives include the following:

  • Define what collateral is
  • Appreciate the five different types of collateral
  • Describe the differences among the various types
  • Understand appropriate examples of each type of collateral