As Used in the Context of a Mortgage,a "Prepayment Privilege

question 29

Multiple Choice

As used in the context of a mortgage,a "prepayment privilege"

• A)means that the lender can demand repayment of the loan sooner than expected.
• B)means that if the borrower misses a payment on the loan,the entire amount becomes due immediately.
• C)is used to allow certain payments to be made without penalty.
• D)arises in connection with an insurance contract.
• E)is prohibited in many Canadian provinces.

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Definitions:

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Problem-Focused Coping

A strategy involving tackling a stressful situation directly to alleviate stress or eliminate its cause.

Optimistic

Having a hopeful or positive outlook on the future or the outcome of specific situations.

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