Which of the Following Statements Is False

question 27

Multiple Choice

Which of the following statements is false?

• A) The prime rate is the rate banks charge other banks.
• B) With a variable interest rate, the terms of the loan may indicate that the rate will vary with some spread relative to a benchmark rate, such as the yield on one-year Treasury securities or the prime rate.
• C) With a discount loan, the borrower is required to pay the interest at the beginning of the loan period.
• D) A common benchmark rate is the London Inter-Bank Offered Rate, or LIBOR, which is the rate of interest at which banks borrow funds from each other in the London interbank market.

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