Jane and Smith Are Considering the Purchase of a Home

question 59

Multiple Choice

Jane and Smith are considering the purchase of a home in downtown Minneapolis.They approached Larson's Mortgagers Inc.to arrange for the financing needed for their home.This process of arranging with a mortgage lender in advance of buying a home is called _____.

• A)foreclosure
• B)contingency auction
• C)prequalification
• D)real estate short sale
• E)diversification

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Definitions:

Woodrow Wilson

The 28th President of the United States (1913-1921), known for leading the country during World War I, advocating for the League of Nations, and implementing progressive domestic policies.

League of Nations

An international organization founded after World War I to promote world peace and cooperation, but was ultimately unable to prevent World War II, leading to its replacement by the United Nations.

Treaty of Versailles

The peace treaty that ended World War I, signed in 1919, which imposed heavy reparations and territorial losses on Germany, contributing to economic hardship and political instability in Germany.

German Military

The armed forces of Germany, historically known for its role in both World Wars and its transformation post-World War II with the establishment of the Bundeswehr in 1955.