The First Step in Test Development Is to Define the ______

question 18

Multiple Choice

The first step in test development is to define the ______.

• A) test developer, test user, and test publisher
• B) subject of the test, the need for the test, and the market for the test
• C) testing universe, the target audience, and purpose of the test
• D) process for piloting the test

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Definitions:

Freddie Mac

A government-sponsored enterprise (GSE) focused on expanding the secondary mortgage market by buying loans from lenders, thereby providing liquidity, stability, and affordability in the housing market.

Secondary Mortgage Markets

Markets where lenders and investors buy and sell existing mortgages or mortgage-backed securities, providing liquidity and capital to the primary mortgage market.

Liquidity

The ease with which an asset can be converted into cash without affecting its market price.

Investment Banks

Financial institutions that act as intermediaries in the issuance of new securities and provide various financial services, including underwriting and mergers and acquisitions.