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ABA CTFA Practice Test - Questions Answers, Page 26
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Question 251
Prequalification provides estimates of required down payment and closing costs of different types of mortgages. It identifies in advance any problems such as:
Question 252
Michael Cohn is a 'member' (a type of owner) of a marine supply business. Michael's business is:
Question 253
The Counting House, Inc., purchased 5-year property class equipment for $60,000. It uses the MACRS method of depreciation. What is tax depreciation for the second year of the asset's life?
Question 254
A 30-year bond issued by Gary's Plaid Pants Warehouse, Inc., in 1997 would now trade in the:
Question 255
A corporation in which you are a shareholder has just gone bankrupt. Its liabilities are far in excess of its assets. You will be called on to pay:
Question 256
Contingency clause:
Question 257
A federal law requiring mortgage lenders to give potential borrowers a government publication describing the closing process and providing clear, advance disclosure of all closing costs to home buyers is called:
Question 258
Money market mutual funds:
Question 259
The purpose of financial markets is to:
Question 260
Which of the following is NOT an example of a financial intermediary?
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