Which of the Following Is True of Governmental Mortgage Insurance

question 17

Multiple Choice

Which of the following is true of governmental mortgage insurance? ​

• A)The insurance lasts for two years after the mortgage period.
• B)The Federal Housing Administration charges a higher rate of interest than a conventional mortgage.
• C)The U.S. Department of Veterans Affairs offers mortgages for the general public.
• D)The U.S. Department of Veterans Affairs offers lesser interest rates for those who served in active duty in the armed forces.

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Definitions:

Government Accountants

Accountants who work within the public sector, responsible for managing and auditing the finances of government agencies.

Balance Sheet

A document that provides a snapshot of a corporation's financial status, by listing its assets, debts, and the equity available to its shareholders at a given time.

Financial Position

A snapshot of an entity's finances at a particular time, including assets, liabilities, and equity, showing its economic standing.

Liabilities

Financial obligations or debts that a business or individual owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.