Which of the Following Is Not True in Regard to a Home

question 45

Multiple Choice

Which of the following is not true in regard to a home equity line of credit (HELOC) ?

• A)With a HELOC,you apply once for the loan and can use it for any expenses.
• B)As you pay off your HELOC,you have more credit available to use.
• C)There are tax incentives on your HELOC.
• D)You will have a fixed payment for a specific time frame with a fixed interest rate.

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Definitions:

Leadership Skill

Competencies and abilities that enable an individual to guide, influence, and direct a group towards achieving a common goal.

Democratic Leaders

A leadership style characterized by the sharing of decision-making responsibilities between the leader and group members, promoting group member engagement, creativity, and a sense of equality.

Corporate Ladder

A metaphor describing the hierarchy within an organization and the progression of career advancement up through its levels.

Transformational Leader

A leader who inspires positive changes in their followers, by focusing on innovation, motivation, and fostering a shared vision.