ABA CTFA Practice Test - Questions Answers, Page 24
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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:
Advantages of leasing are all of the following EXCEPT:
Disadvantages of leasing are all of the following EXCEPT:
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.
An apartment in a building in which each tenant owns a share of nonprofit cooperation that owns the building.
A rental contract:
The maximum percentage of the value of a property that the lender is willing to loan is called:
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%.
_________ acronym is that refers to a mortgage payment including stipulated portions of principal, interest, property, taxes and homeowner's insurance.
The principal reason for the existence of leasing is that:
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