A loan which is secured by collateral and for which borrower is not personally liable is called __________ A. Secured loan B. Syndicated loan C. Non-Recourse loan D. No Documentation loan

A loan which is secured by collateral and for which borrower is not personally liable is called __________ A. Secured loan B. Syndicated loan C. Non-Recourse loan D. No Documentation loan
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C. Non-Recourse loan Explanation: A non-recourse debt is a type of loan that is secured by collateral, which is usually property. If the borrower defaults, the issuer can seize the collateral, but cannot seek out the borrower for any further compensation, even if the collateral does not cover the full value of the defaulted amount.
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