Question

question 3
4 pts
what is meant by an uncollateralized loan?
google translate

a personal loan without assets to cover the loan amount.
a personal loan with assets to cover the loan amount.
a loan that must be backed by a co - signer.

Explanation:

An uncollateralized (unsecured) loan is one where the borrower doesn't pledge assets (collateral) to cover the loan. Option A says a personal loan without assets to cover the loan amount, which matches. Option B describes a collateralized loan. Option C refers to a loan needing a co - signer, not related to collateral.

Answer:

A. A personal loan without assets to cover the loan amount.