Question

What is a closed line of credit?

a.
A line of credit with a set maximum credit limit.
b.
A line of credit with no interest rate.
c.
A line of credit with a fixed total amount.
d.
A line of credit with a legally mandated repayment schedule.

Answer 1

C. A line of credit with a fixed total amount.

Explanation:

Answer 2

c. A line of credit with a fixed total amount.

Explanation:

EDGE 2020