Which FHA Program Section Has Been Phased Out and Is

question 12

Multiple Choice

Which FHA Program Section has been phased out and is now covered by FHA's Section 203(b) program with higher restrictions on collateral approval?

• A) Section 354
• B) Section 203(k)
• C) Section 234(d)
• D) Section 1492

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Definitions:

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted.

Variable Cost

A cost that changes in proportion to the level of activity or volume of production in a business.

Gross Margin

The difference between sales revenue and the cost of goods sold, expressed as a percentage of sales.

Absorption Costing

A method of inventory costing that includes all manufacturing costs, both variable and fixed, in the cost of a product.