If a Loan Has a Prepayment Penalty,there Will Be

question 27

Multiple Choice

If a loan has a prepayment penalty,there will be:

• A)no additional cost to repay the loan early.
• B)an additional cost to repay the loan early.
• C)an additional cost to repay the loan if the borrower has defaulted any monthly payment.
• D)an additional cost to repay the loan if the loan is not repaid before the loan maturity.
• E)no additional cost to repay the loan early only if the loan is prepaid 3 months before the loan maturity.

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Definitions:

Social Diversions

Are minor acts of deviance that are generally perceived as relatively harmless. They evoke, at most, a mild societal reaction, such as amusement or disdain.

Cultural Definitions

The meanings, values, and norms that a society or group attaches to certain behaviors, phenomena, or symbols.

Stigmatization

The act of disgracing or branding someone or something as disgraceful or unworthy.

Formally Enacted

A term referring to policies, laws, or rules that have been officially written and adopted through formal procedures.