Which of the Following Is Accurate Regarding Types of Mortgages

question 40

Multiple Choice

Which of the following is accurate regarding types of mortgages?

• A)A convertible VRM gives you protection in case interest rates go up.
• B)Open mortgages offer slightly better rates than closed mortgages.
• C)Most fixed-rate mortgages are convertible.
• D)With a variable-rate mortgage your payments will never go up if prime goes up.

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Definitions:

Mentoring Relationship

A dynamic, reciprocal relationship in a work environment between an advanced career incumbent (mentor) and a beginner (mentee), aimed at promoting the career development of both.

Cultivation

In media studies, the process by which heavy television viewers develop a perception of reality more consistent with the world as portrayed in media than with the actual world.

Mutual Sharing

A process or practice where individuals or groups exchange information, resources, or benefits equally among each other.

Orientation

A process of introducing new members to the norms, values, and practices of an organization or community.