Top 50+ Solved Modes of Creating Charge MCQ Questions Answer

From 16 to 25 of 25

Q. As a fixed-rate mortgage nears maturity, the portion of the monthly mortgage payment that is appliedto principal _________ while the amount that is applied to interest ___________.

a. Decreases; increases

b. Increases; decreases

c. Does not change; decreases

d. Increases; does not change

  • b. Increases; decreases

Q. . _________ paid at closing can reduce the interest rate used to determine the monthly payments on amortgage.

a. Discount points

b. Down payments

c. Loan origination fees

d. Amortization rates

  • a. Discount points

Q. What type of mortgages are used to finance the acquisition of apartment complexes, townhouses, andcondominiums?

a. Commercial mortgages

b. Single family mortgages

c. Farm mortgages

d. Multifamily dwelling mortgages

  • d. Multifamily dwelling mortgages

Q. Benefits of securitization include all of the following EXCEPT:

a. Reduced credit risk

b. Generation of income

c. Greater reserve requirements

d. Increased liquidity

  • c. Greater reserve requirements

Q. FHA mortgages and VA mortgages are conventional mortgages.

a. True

b. False

c. none

d. none

  • b. False

Q. Where a person pledges goods in which he has only a limited interest, the pledge is:

a. Invalid to the extent of that interest

b. Entire contract is invalid

c. Valid to the extent of that interest

d. Entire contract is valid

  • c. Valid to the extent of that interest

Q. What is pledge:

a. The bailment of goods as security for payment of a debt or performance of a promise

b. The delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the direction of the person delivering them

c. A contract by which one party promises to save the other from loss caused to him by the contract of the promisor himself, or by the conduct of any other person

d. A contract to do or not to do something, if some event, collateral to such contract, does or does not happen

  • a. The bailment of goods as security for payment of a debt or performance of a promise
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