A Lender Requires a 1

question 10

Multiple Choice

A lender requires a 1.20 debt coverage ratio as a minimum.If the net operating income of a property is $45,000,what annual amount of debt service would provide the required debt coverage ratio?

• A)$37,500 or higher
• B)$37,500 or lower
• C)$54,000 or higher
• D)$54,000 or lower

Distinguish between different forms of money such as fiat money, cryptocurrencies, and physical currency.

Explain the role of credit unions, finance companies, and Federal Reserve in the financial system.

Understand bartering as an alternative to the use of money in transactions.

Recognize the characteristics of money that make it effective in its various roles (divisibility, durability, acceptability, stability, portability).

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Definitions:

Assimilate

The process by which individuals or groups adopt the culture, customs, and attitudes of another group, losing their original identity.

Natural Reproduction

The biological process by which new individual organisms are produced from their "parents," naturally occurring without human intervention.

Abolitionist Policies

Initiatives aimed at ending the practice of slavery and the slave trade.

Slave Codes

Laws established to define the status of slaves, restrict their activities, and provide legal mechanisms for controlling the enslaved population.