____ Mortgages Enable More People with Relatively Lower Income, or High

question 46

Multiple Choice

____ mortgages enable more people with relatively lower income, or high existing debt, or a small down payment to purchase homes.

• A)Prime
• B)Balloon
• C)Amortized
• D)Subprime

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Definitions:

Autarky

This is a situation where a country or region is self-sufficient and does not engage in international trade with other countries.

Employee Retirement Income Security Act

A federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.

Vesting Rights

Are guaranteed rights to receive pension benefits.

Pension Plans

Retirement savings plans offered by employers, providing employees with a specific monthly income upon retirement.