The Event or Point in Time When a Contingency Plan

question 24

Multiple Choice

The event or point in time when a contingency plan will be implemented is called a(n) _________.

• A) trigger
• B) milestone
• C) threshold
• D) contingency event
• E) execute event

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Definitions:

Late Payments

Payments made to a creditor after the due date has passed.

Compounded Semi-Annually

Interest calculation method where interest is added to the principal balance of an investment or loan twice a year, leading to interest on interest.

Amortized

The process of gradually paying off a debt over a period of time through regular payments.

Mortgage Loan

A loan secured by real property through the use of a mortgage note.