The Twenty-Second Amendment, Ratified and Enacted in 1951, Places What

question 5

Multiple Choice

The Twenty-Second Amendment, ratified and enacted in 1951, places what restriction on presidents?

• A) The person seeking the office of president must have been a citizen of the United States for at least 10 years.
• B) The person seeking the office of president must first have served at least one term in either the U.S. House of Representatives or the U.S. Senate.
• C) Any one person may serve only one term as president.
• D) Any one person may be elected as president no more than twice.
• E) The president must have a college degree.

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Definitions:

Financial Forecast

A prediction of future revenues, expenses, and profits for a specific period.

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be consumed or converted into cash within a year.

Default Risk

The risk that a borrower will not pay the interest and/or principal on a loan as it becomes due. If the issuer defaults, investors receive less than the promised return on the bond. Default risk is influenced by both the financial strength of the issuer and the terms of the bond contract, especially whether collateral has been pledged.

Interest Rate Risk

Arises from the fact that bond prices decline when interest rates rise. Under these circumstances, selling a bond prior to maturity will result in a capital loss; the longer the term to maturity, the larger the loss.