Standard #: SS.912.FL.5.3


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Explain that loans can be unsecured or secured with collateral.


Clarifications


Clarification 1: Instruction includes explaining why secured loans are viewed as having less risk and why lenders charge a lower interest rate than they charge for unsecured loans.

Clarification 2: Instruction includes understanding unsecured versus secured credit cards.



Related Courses

Course Number1111 Course Title222
2102300: Economics and Personal Finance (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102305: Economics and Personal Finance Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102371: Personal Finance and Money Management (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102373: Personal Finance and Money Management Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102306: Economics and Personal Finance for Credit Recovery (Specifically in versions: 2024 and beyond (current))
2102375: Personal Finance and Money Management for Credit Recovery (Specifically in versions: 2024 and beyond (current))


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