The Failure to Have a License Will Not Render Agreements

question 3

Multiple Choice

The failure to have a license will not render agreements void if the license:

• A) is based on formal education.
• B) is a real estate license.
• C) is a regulatory license.
• D) is readily obtainable by anyone who offers payment of a required fee.

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Definitions:

Financial Intermediaries

Institutions such as banks, mortgage companies, and finance companies, that serve as go-betweens, borrowing from people who have saved to make loans to others.

Capital

Wealth in the form of money or assets, invested in order to start a business or invest in order to generate more wealth.

Real GDP

Gross domestic product adjusted for changes in the price level, providing a more accurate picture of an economy's size and growth.

Consumption

the process by which goods and services are used up by individuals or groups, typically considered the end-use in economic production cycles.