Finance And Accounting

Question: What is meant by the term "Floor"?
A
The minimum amount a loan can be made for

B
The interest rate below which the rate of an Adjustable-Rate Loan cannot be adjusted

C
The minimum amount of time a mortgage can be set for

D
A professional opinion of the current market value of a property

Note: Answer not sure
1. Report
Question: How much is one point worth?
A
10 percent of the mortgage

B
0.1 percent of the mortgage

C
1 percent of the mortgage

D
$1000

Note: Answer not sure
1. Report
Question: How is interest on a loan shown on the financial statements?
A
As a long term liability

B
As a short term liability

C
As revenue

D
As an expense incurred during the period

Note: Answer not sure
1. Report
Question: What is a down payment?
A
Always 20% of the price of the house

B
Payment on a house required by law

C
The monthly mortgage payment

D
Money put down towards the payment of the house by the buyer at the time of purchase which is deducted from the price

Note: Answer not sure
1. Report
Question: Why would someone not use a credit card to purchase a car?
A
Credit limits on a credit card are not high enough to purchase a car

B
Car dealers force consumers to use loans

C
Interest rates on credit cards tend to be higher than on a loan for a car or a house

D
It is illegal to pay for a car using credit cards

Note: Answer not sure
1. Report
Question: What would a company that wants to decrease their debt to equity ratio do?
A
Take out a new long term loan

B
Take out a new short term loan

C
Pay off a short term loan

D
Collect on receivables

Note: Answer not sure
1. Report
Question: What is the debt that must be repaid before a subordinated debt receives any payment in the event of default called?
A
Down Payment

B
Senior Debt

C
Subsequent Debt

D
Second Round Debt

Note: Answer not sure
1. Report
Question: What does the term "Closing" mean?
A
The day a price is agreed on for a home transaction

B
The meeting where the buyers, sellers, and their representatives meet to finalize the legal exchange of property

C
The process of being approved for a mortgage

D
A legal document used to transfer the ownership of a property

Note: Answer not sure
1. Report
Question: Why can a lender not deduct the loans made from their net income?
A
Because there is no reduction in their assets — there is only a change from cash assets to receivables

B
Because it is considered the income of the borrower

C
Because it has minimal impact on tax revenue

D
Because there is no need to include it as long as the loan is paid back within a year

Note: Answer not sure
1. Report
Question: What is the short-term loan that provides temporary financing until more permanent financing is available called?
A
Interim Financing

B
Contingency

C
Overdraft

D
Mortgage Modification

Note: Answer not sure
1. Report

First Prev 101 102 103 104 105 Next Last

Question: What is meant by the term "Floor"?

Question: How much is one point worth?

Question: How is interest on a loan shown on the financial statements?

Question: What is a down payment?

Question: Why would someone not use a credit card to purchase a car?

Question: What would a company that wants to decrease their debt to equity ratio do?

Question: What is the debt that must be repaid before a subordinated debt receives any payment in the event of default called?

Question: What does the term "Closing" mean?

Question: Why can a lender not deduct the loans made from their net income?

Question: What is the short-term loan that provides temporary financing until more permanent financing is available called?