When a buyer assumes an existing loan, the assumption on the closing statement is shown as:
a) a debit to the buyer
b) a credit to the seller
c) both a) and b)
d) neither a) nor b)
Answer: d) neither a) nor b)
Business
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How does arbitrage differ from speculation?
A) Speculation, unlike arbitrage, is never used to protect against risk. B) A speculator buys or sells foreign currency with the hope that that currency will either weaken or strengthen in the future, resulting in a profit. C) Speculation is the purchase of foreign currency on one market for the immediate resale on another market. D) Arbitrage is another way to speculate for profit or protect against risk.
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