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Collateral: Definition, Types & Examples

Instructions:

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?

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1. Define the lending-based concept of collateral.

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

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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
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