Final answer:
A secured loan is a loan backed by collateral, reducing the lender's risk in case of default. Examples include mortgages and car loans.
Explanation:
A secured loan is a type of loan that requires the borrower to back it with collateral, such as a house or a car, to reduce the lender's risk. This collateral can be seized by the lender if the borrower defaults on the loan. Examples of secured loans include mortgages and car loans.
Learn more about Secured Loan here:
https://brainly.com/question/17077155
