Question

In: Operations Management

Tom’s life insurance has no cash surrender value. It mustbeStraight lifeLimited-payment life insurance...

  1. Tom’s life insurance has no cash surrender value. It must be

  1. Straight life

  2. Limited-payment life insurance

  3. Endowment

  4. Term life insurance


  1. An acceleration of the debt

  1. Makes the entire amount of the debt due for immediate payment

  2. Increases the monthly payment amount

  3. Makes the repayment period of the entire debt one year

  4. Increases the interest rate

  1. In which type of mortgage is the loan repaid when the borrower dies or the property is sold?

  1. Balloon-payment mortgage

  2. Reverse mortgage

  3. Conventional mortgage

  4. Variable-rate mortgage


  1. A _ loan is that which deliberately misstates the qualifications of a borrower to push a loan through the approval process.

  1. NINJA

  2. Subprime

  3. Home equity

  4. Liar

Solutions

Expert Solution

D. Term life insurance is the life insurance which Tom has. As its Term life insurance which does not have a cash surrender value.

B. Increases the monthly payment amount is something that an acceleration of the debt does. Whereas the remaining ones are not applicable in this context.

B. Reverse mortgage is the type of mortgage is the loan repaid when the borrower dies or the property is sold.

D. Liar loan is that which deliberately misstates the qualifications of a borrower to push a loan through the approval process. Whereas the remaining ones are not relevant in this context.

keosha answered 1 year ago
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