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:

Irrational Opinions

Irrational opinions are beliefs or judgments that are not based on reason or logical thinking but on emotions or flawed reasoning.

Discrimination

The unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.

Stereotypes

Overgeneralized beliefs about a particular category of people, which can lead to prejudiced attitudes and behaviors.

Prejudice

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience, often manifesting as bias or discrimination.