Question

secured debts must have ______.
(1 point)
○ collateral
○ real property
○ low interest rates
○ certified lenders

Explanation:

Secured debts are defined by having an asset (collateral) that the lender can seize if the borrower defaults. Real property is only one type of collateral, not a requirement for all secured debts. Low interest rates and certified lenders are not mandatory characteristics of secured debt.

Answer:

collateral