webmcqs, Author at MCQs | eBooks - Textbook Solutions

A form of literature that uses aesthetic and often rhythmic qualities of language is:

A. poetry
B. myth
C. play
D. Legend

Option: A

A struggle between opposing forces that is revealed through a character’s thoughts or actions is:

A. plot
B. conflict
C. fight
D. point of view

Option: B

If the polynomial f(x) is divided by x+2, the quotient is x-2 and the remainder is 2, the f(x) will be:

A. x²-4
B. x²+4
C. x²-2
D. x²+2

Option: C

One reason why adjustable-rate mortgages (ARMs) have become popular has to do with the impact that they have on the interest rate risk that is borne by the parties involved. If interest rates were to rise on a level-payment mortgage (LPM) the interest rate risk of the loan would typically be borne by

A. neither the borrower nor the lender
B. the lender only
C. the borrower only
D. both the borrower and lender

Option: D

Given the following information on an interest-only mortgage, calculate the monthly mortgage payment. Loan amount: $56,000, Term: 15 years, Interest Rate: 7.5%.

A. 350
B. 4200
C. $169.13
D. $519.13

Option: A

What is the converse of p → q ?

A. ^ˏ p → ^ˏ q
B. q → p
C. ^ˏ q → ^ˏ p
D. p ↔ q

Option: B

A/B/C/D, Each part carries one mark. If a,b,c are real numbers such that a < b, c < 0, a ≠ 0, b ≠ 0, then which of the following inequalities holds?

A. ac > bc
B. ac² > bc²
C. c/a > c/b
D. ac < bc

Option: A

Assume that a borrower has a choice between two comparable fixed-rate mortgage loans with the same interest rate, but different mortgage terms, one being a 30-year mortgage and the other a 15-year mortgage. Under financially unconstrained circumstances, which of the following statements best describes the borrowers preference?

A. The borrower would be indifferent between the two mortgages.
B. The borrower would prefer the 15-year mortgage.
C. The borrower would prefer the 30-year mortgage.
D. The borrower is unable to compare mortgage loans of two different maturities.

Option: A

Mortgage is ____ in the immoveable property.

A. Transfer of title
B. Transfer of interest
C. Hypothecation
D. Pledge

Option: B

On liquidation of the debt, the mortgagor has the right to get back the document relating to mortgaged property, where poession has been given, to get back the possession and where title has been transferred, to get retransferred. This right is known as:

A. Right of redemption
B. Right of foreclosure
C. Right of appropriation
D. Right of lien

Option: A

In which of the following Acts, the provisions of Mortgage of an Asset are dealt with?

A. Indian contract act
B. Sale of goods act
C. Negotiable Instrument act
D. Indian Company law
E. Transfer of property act

Option: E

In which of the following mortgage, when mortgagor without delivering the possession, binds himself personally to pay the mortgage money and agrees that in the event of his failure to pay the mortgage money, the mortgagee shall have a right to cause the property to be sold?

A. Simple Mortgage
B. Equitable Mortgage
C. English Mortgage
D. Mortgage by conditional sale

Option: D

In which of the following mortgage, two witness and registration is required, possession and ownership is not transferred?

A. English Mortgage
B. Usufructuary Mortgage
C. Simple Mortgage
D. None of the above

Option: C

In which of the following mortgage, the title is transferable but not the possession?

A. Usufructuary Mortgage
B. Simple Mortgage
C. English Mortgage
D. None of Above

Option: D

The loan allowed to the sole owner of the house which he doesn’t need to pay for house which he doesn’t need to pay for the time that the borrower or the co-owner stay there. instead the loan is repaid when the borrower die or sells the house, or no longer live there as their primary residence. It is known as:

A. Usufructuary Mortgage
B. Reverse Mortgage
C. English Mortgage
D. Equitable Mortgage
E. None of the above

Option: B