WAEC Economics 2017 Objective — Question 37
Question 37 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.
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A financial institution that specializes in giving loans using real assets as collateral security is a
- A. A. development bank
- B. B. insurance company
- C. C. central bank
- D. D. mortgage bankCorrect
Explanation
A mortgage bank specializes in giving loans using real assets (property) as collateral security.
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