A Discount Point Is

question 22

Multiple Choice

A discount point is:

• A) one percent of the original loan balance
• B) determined only at the loan closing
• C) the same as the origination fee
• D) none of the above

---

Definitions:

Efficiency

The ability to achieve a desired result or perform a task with the least amount of wasted time, effort, or resources.

Value Chain

A series of activities that companies perform to bring a product or service from conception to the marketplace.

Six Sigma

A quality standard of 3.4 defects or fewer per million products or service deliveries.

Quality Standard

A set of criteria and guidelines that outlines the specific requirements, specifications, and characteristics of a product or service to ensure it meets its purpose effectively and efficiently.