Choose the Most Appropriate Answer for Each

question 37

Multiple Choice

Choose the most appropriate answer for each.
-a loan with a series of amortized payments followed by a balloon payment at maturity

• A)Amortized loan
• B)Amortization tables
• C)Balloon loan
• D)Budget mortgage
• E)Conventional loan
• F)Discount point
• G)Equity
• H)FHA
• I)Impound account
• J)Loan balance table
• K)Loan origination fee
• L)Loan-to-value ratio
• M)Maturity
• N)Partially amortized loan
• O)PITI payment
• P)PMI
• Q)Point
• R)Principal
• S)Term loan
• T)UFMIP

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Definitions:

Service Department

A division within a company that provides after-sales services to customers, such as repairs, maintenance, and support.

Cost Allocations

The process of assigning indirect costs to different departments, products, or projects based on relevant allocation bases.

Sales Dollars

The total revenue earned from sold goods or services, expressed in terms of monetary value.

Operating Asset

Assets that are used for the operations of a business, contributing to its ability to generate profit.