Answer: True
A bank line of credit is a prearranged loan amount that you can access by writing specific checks
Explanation:
A line of credit (LOC) refers to a type of loan extended to an individual, organizations or government which establishes the maximum loan amount a customer can borrow. It is a form of arrangement between a financial institution and its customer. It is an open-end credit account that enables borrowers to spend money, repay it, and spend it again. A customer or borrower can access funds from the line of credit in agreement with the maximum amount that is agreed upon because he or she must not exceed the limit. The loan on the line of credit must be paid back within a specified time and at a specified interest rate. It allow a borrower to write checks (drafts) in order to access the loan.