As Applied to Mortgage Loans,which of the Following Statements Is

question 91

Multiple Choice

As applied to mortgage loans,which of the following statements is FALSE?

• A)Advertised rates are annual percentage rates.
• B)A spreadsheet uses the periodic interest rate,not the annual percentage rate.
• C)By increasing the number of payments per year you increase your effective borrowing rate.
• D)You can find a monthly payment by dividing the annual payment by 12.

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Definitions:

Variable-Ratio Schedule

A reinforcement schedule in which a response is rewarded after an unpredictable number of responses, leading to high and steady rates of response.

Postreinforcement Pause

A cessation of behavior following reinforcement on a ratio schedule, which is followed by resumption of responding at the intensity characteristic of that ratio schedule.

Behavioral Contrast

The phenomenon where the rate of response to one stimulus changes as a consequence of a change in reinforcement conditions for another stimulus.

Variable-Interval Schedule

A Variable-Interval Schedule is a type of reinforcement schedule where responses are reinforced after varying intervals of time, making the reinforcement unpredictable.