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Problem 1: Which of the following about loan covernant is/are TRUE? (One or more than one options may be correct.)
Select one or more:
a. The existence of covenants in a loan issue increase the risk of the loan.
b. For the lender, loan covenants are usually used as a security measure to make sure there is enough cash flow or stability with the borrowing party so that they are able to pay back the loan.
c. A loan covenant is a legal clause in a borrowing contract that requires the borrower to either take certain actions or avoid certain actions.
d. Loan covenants are rarely used in commercial loans but often used in consumer loans.
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