Choose the One Most Appropriate Answer for Each

question 29

Multiple Choice

Choose the one most appropriate answer for each.
-the mortgage loan with highest priority for repayment in the event of foreclosure

• A)acceleration clause
• B)alienation clause
• C)assumption
• D)chattel mortgage
• E)deed of trust
• F)defeasance clause
• G)deficiency judgment
• H)equitable mortgage
• I)equity of redemption
• J)first mortgage
• K)foreclosure
• L)junior mortgage
• M)mortgage
• N)mortgagor
• O)partial release
• P)power of sale
• Q)promissory note
• R)public auction
• S)subject to
• T)subordination

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Definitions:

Procedural Memory

A type of long-term memory that is responsible for knowing how to perform certain skills and tasks, such as riding a bicycle or typing, without consciously thinking about them.

Forgetting Curves

Graphical representations that show how the ability to retain information decreases over time without rehearsal or practice.

Long-Term Memory

A durable and virtually limitless storage system in the brain for retaining information over long durations, including facts, experiences, and skills.

Mnemonic Device

A technique used to improve memory by associating complex information with simple, easily recallable aids like patterns, phrases, or images.