Which of the Following Is True of Private Mortgage Insurance

question 72

Multiple Choice

Which of the following is true of private mortgage insurance?

• A) It generally is required if the borrower makes a down payment of less than 20%.
• B) It costs $20 to $25 per year.
• C) It protects the borrower in the event that the lender goes bankrupt.
• D) It is another name for title insurance.

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Definitions:

Major Organic

Referring to the primary or most significant organic compound or pathway present in a particular chemical process or context.

Organic Product

Organic product refers to any compound containing carbon atoms that is produced as a result of an organic chemical reaction.

Primary Alcohols

Organic compounds featuring a hydroxyl group (-OH) attached to a primary carbon atom, often reactive and used in the production of various chemicals and solvents.

Carboxylic Acids

Organic compounds characterized by the presence of at least one carboxyl group (-COOH), which includes substances like acetic acid and butyric acid.