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ABA CTFA Practice Test - Questions Answers, Page 24

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Question 231

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Most auto leases include a purchase option. The annual mileage allowance is another consideration of lease term. Mileage allowance typically about:

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Question 232

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Advantages of leasing are all of the following EXCEPT:

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Question 233

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Disadvantages of leasing are all of the following EXCEPT:

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Question 234

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A form of direct ownership f an individual unit in a multi-unit project in which lobbies, swimming pools, and other common areas are jointly owned by all property owners in t project.

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Question 235

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An apartment in a building in which each tenant owns a share of nonprofit cooperation that owns the building.

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Question 236

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A rental contract:

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Question 237

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The maximum percentage of the value of a property that the lender is willing to loan is called:

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Question 238

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An insurance policy that protects the mortgage lender from loss in the event the borrower defaults on the loan; typically required by lenders when the down payment is less than 20%.

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Question 239

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_________ acronym is that refers to a mortgage payment including stipulated portions of principal, interest, property, taxes and homeowner's insurance.

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Question 240

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The principal reason for the existence of leasing is that:

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