The clause in a trust deed or mortgage that permits the lender to declare the entire unpaid balance immediately due and payable upon default is the
A) judgment clause.
B) escalator clause.
C) forfeiture clause.
D) acceleration clause.
Answer: D) acceleration clause.
Business
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Which of the following statements is true of a bond that is issued at a premium?
A) The bond will be issued at an amount above face value. B) The stated interest rate is lower than the prevailing market interest rate. C) At maturity, the bond will repay an amount that is greater than the face value. D) The bond will be issued at par.
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Which one of these Homeowners endorsements is used to schedule separate coverage for one or more of nine categories of personal property?
A) Scheduled Personal Property B) Personal Jewelry C) Fine Arts D) Personal Liability
Business