A mortgage that uses both real and personal property to secure the borrower's debt is a:

A. reverse equity mortgage
B. budget mortgage
C. package mortgage
D. deed of trust

Answer: C. Package mortgage
uses both real and personal property as collateral

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A broker holding funds collected to pay employee taxes and benefits should place the money in the contract's escrow account.

a. true b. false

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One of the key differences between binding arbitration and the civil justice system is that in arbitration the ________

A) arbitration cannot be used for alternative dispute resolution B) employer gets preference over the employee union C) union and the employer get to select the arbitrator D) employee union gets preference over the employer E) decisions made through arbitration are not legally binding

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