What Is the Probability That a Mortgage Will Be Prepaid

question 21

Multiple Choice

What is the probability that a mortgage will be prepaid during a given year called?

• A)mortgage reduction rate
• B)amortization rate
• C)filtration rate
• D)prepayment rate
• E)postponement rate

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Definitions:

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, celebrating differences in heritage, traditions, and values.

Business Communication

The sharing of information between people within and outside of an organization that is performed for the commercial benefit of the organization.

Culture

The shared values, beliefs, norms, and practices of a group of people that shape their behavior and understanding of the world.

Cultural Pluralism

A condition or society in which various cultural groups maintain their unique cultural identities while coexisting with one another within a larger society.