A(n)________ ARM Combines the Aspects of Fixed-Rate and Adjustable-Rate Mortgages

question 46

Multiple Choice

A(n) ________ ARM combines the aspects of fixed-rate and adjustable-rate mortgages.

• A)two-step
• B)convertible
• C)reduction-option
• D)option payment

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Definitions:

Public Ownership

Ownership of assets by the government or public entities, as opposed to private individuals or companies.

Competition

the rivalry among businesses to attract customers and achieve such goals as higher sales, market share, and innovation.

Market Price

The current value at which an asset or service can be bought or sold in the open market.

Independently Acting

Refers to an entity or person making decisions based on their own judgments or interests without coordination with others.