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Your results are here!! for" Difference Between Lien, Pledge, Hypothecation, Assignment "
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Question 1 of 10
1. Question
What is the basic right of a lender under a lien?
Correct
A lien gives the lender the right to retain possession of the borrower‘s goods until the debt is paid.
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A lien gives the lender the right to retain possession of the borrower‘s goods until the debt is paid.
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A lien gives the lender the right to retain possession of the borrower‘s goods until the debt is paid.
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Question 2 of 10
2. Question
What is a pledge?
Correct
A pledge is the bailment of goods as security for repayment of a loan.
Incorrect
A pledge is the bailment of goods as security for repayment of a loan.
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A pledge is the bailment of goods as security for repayment of a loan.
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Question 3 of 10
3. Question
In hypothecation, who normally retains possession of the movable asset?
Correct
In hypothecation, possession remains with the borrower while the lender has rights over the asset.
Incorrect
In hypothecation, possession remains with the borrower while the lender has rights over the asset.
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In hypothecation, possession remains with the borrower while the lender has rights over the asset.
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Question 4 of 10
4. Question
A mortgage is created as security over which type of property?
Correct
A mortgage involves transfer of an interest in immovable property such as land or a house.
Incorrect
A mortgage involves transfer of an interest in immovable property such as land or a house.
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A mortgage involves transfer of an interest in immovable property such as land or a house.
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Question 5 of 10
5. Question
What does assignment generally involve?
Correct
Assignment means the transfer of rights or benefits from one person to another.
Incorrect
Assignment means the transfer of rights or benefits from one person to another.
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Assignment means the transfer of rights or benefits from one person to another.
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Question 6 of 10
6. Question
What is a charge in the context of security?
Correct
A charge is a security created on assets without transferring ownership or possession.
Incorrect
A charge is a security created on assets without transferring ownership or possession.
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A charge is a security created on assets without transferring ownership or possession.
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Question 7 of 10
7. Question
What is the bank‘s right of set-off?
Correct
Set-off allows the bank to adjust a customer‘s credit balance against the customer‘s loan.
Incorrect
Set-off allows the bank to adjust a customer‘s credit balance against the customer‘s loan.
Unattempted
Set-off allows the bank to adjust a customer‘s credit balance against the customer‘s loan.
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Question 8 of 10
8. Question
When can a bank exercise the right of appropriation as described in the material?
Correct
If the customer does not specify how a payment should be applied, the bank can decide how to appropriate it.
Incorrect
If the customer does not specify how a payment should be applied, the bank can decide how to appropriate it.
Unattempted
If the customer does not specify how a payment should be applied, the bank can decide how to appropriate it.
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Question 9 of 10
9. Question
What happens when a guarantor pays the borrower‘s debt under the right of subrogation?
Correct
After repayment of another party‘s debt, the person making the payment gets the lender‘s rights.
Incorrect
After repayment of another party‘s debt, the person making the payment gets the lender‘s rights.
Unattempted
After repayment of another party‘s debt, the person making the payment gets the lender‘s rights.
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Question 10 of 10
10. Question
What is the role of a guarantor in a contract of guarantee?
Correct
A guarantor is the third person who promises to pay if the borrower defaults, providing additional security.
Incorrect
A guarantor is the third person who promises to pay if the borrower defaults, providing additional security.
Unattempted
A guarantor is the third person who promises to pay if the borrower defaults, providing additional security.