4. What do you understand by the term‘Mortgage’?(a) Sale of moveable security in the event of default by the borrower(b) Registration of charge with the Registrar of Companies(c) Making the security of immovable property available as a cover for a home loan by the borrower(d) Registration of charge with the Regional Transport Authority(e) Returning of the security to borrower by the bank of receipt of full payment

WHAT DO YOU UNDERSTAND BY THE TERM‘MORTGAGE’

BANKING AWARENESS QUESTION BANK

4. What do you understand by the term

‘Mortgage’?

(a) Sale of moveable security in the event of default by the borrower

(b) Registration of charge with the Registrar of Companies

(d) Registration of charge with the Regional Transport Authority

(e) Returning of the security to borrower by the bank of receipt of full payment