Interest rates are influenced by the Federal Reserve System's:
Finance Quiz 9-11 Loan Types and Gov. Loans

Quiz
•
Specialty
•
12th Grade
•
Medium
James Marshall
Used 6+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
reserve requirements
primary lending discount rate
open market activities
All choices are correct.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a loan is amortized, the monthly payments:
Can change each month
Remain the same
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The purpose of disclosing the annual percentage rate (APR) is to assist consumers in:
comparing mortgage loans AND seeing one rate that includes both interest and fees
understanding all the risks of the loan terms
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The guidelines that determine if a conventional loan is conforming or non-conforming are set by:
Fannie Mae AND Freddie Mac
Fannie Mae AND Farmer Mac
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of conventional loans conform to the guidelines set by Fannie Mae and Freddie Mac and thus can be sold on the secondary market?
conforming loans
non-conforming loans
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mitch's ARM has an initial rate of 4.3%. The margin is 2%, and the initial index rate is 2.3%. The initial rate will adjust only once every three years. The lifetime cap is 4%. What is the maximum interest rate that Mitch could pay?
8.3%
6.3%
4.3%
8.3%
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Emmy has a property worth $320,000 with a $65,000 loan, how much equity does she have in that property?
$255,000
$320,000
$65,000
$285,000
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