A Borrower Who Has Failed to Make a Payment of Principal

question 16

Multiple Choice

A borrower who has failed to make a payment of principal or interest when due or meet any other requirement of a credit agreement is said to be in

• A)arrears
• B)foreclosure
• C)rescission
• D)default

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Definitions:

Ivan Boesky

A former American stock trader who became infamous in the 1980s for his role in a major insider trading scandal.

Greed Is Good

A phrase popularized by the film "Wall Street" (1987) to encapsulate the idea that unbridled financial self-interest and the pursuit of personal wealth are positive forces in society.

Wall Street Trader

An individual who buys and sells stocks or other financial instruments on Wall Street, the heart of the financial district in New York City.

Roots

A television miniseries based on Alex Haley's 1976 novel "Roots: The Saga of an American Family," tracing the ancestry of the author back to Africa and through seven generations.