8.1.2 Quiz: What is Personal Property

which of the following is an example of intangible property?

A bank account

How can personal property impact the process of applying for a loan with a bank?

A bank is more likely to approve a loan to someone if valuable assets and collateral can be shown.

Which of the following describes personal property that could be protected with a trademark?

A company's unique image that it places on its products

What is often the most valuable personal, tangible property than an individual owns?

A vehicle

Which of the following is true about personal property belonging to individuals and businesses?

Businesses generally own more intangible property than individuals.

If an individual purchases an electronic book to read, what type of property is it?

Intangible property

How would a list of personal property and its worth help when purchasing insurance?

It would help the individual decide how much coverage he or she needs to purchase.

An engineering company designs a unique type of electrical system that is extremely safe and highly energy efficient. What type of property might this be?

Personal, intangible, intellectual property

What distinguishes real property?

Real Property is permanently associated with land, while personal property is not.

What can be protected by a patent?

The right to use unique and innovative ideas