What Term Applies to Third-Party Financing That Is Used Between

question 12

Multiple Choice

What term applies to third-party financing that is used between funds advanced by the permanent lender and funds needed to repay the construction loan?

• A)Interim loan
• B)Mini-perm financing
• C)Gap financing
• D)Partial financing

---

Definitions:

Egocentrism

A cognitive bias where an individual is unable to understand or assume any perspective other than their own, commonly seen in early child development stages.

Concrete Operations

A stage in Piaget's theory of cognitive development where children aged 7 to 11 years can logically think about concrete events and objects.

Bilingual

Using or capable of using two languages with nearly equal or equal facility.

Giftedness

A term used to describe individuals, often children, who exhibit high levels of aptitude or competence in one or more domains such as intellectual, creative, artistic, or leadership capacity.