A convertible ARM is a loan that can be changed to
a. a shorter-term loan.
b. a fixed-rate loan.
c. another property.
d. another borrower.
Answer: b. a fixed-rate loan.
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An airline pilot told a broker about some friends who were looking for a new home. The broker contacted the friends and eventually sold them a house. May the broker give the airline pilot a gift for this valuable lead?
A) No, because only a thank-you note is permitted. B) No, under no circumstances. C) Yes, but not more than a combination of merchandise and cash exceeding $200. D) Yes, as long as the gift was not prearranged, not cash, and the value does not exceed $50 retail value.
When developing the presentation, which of the following allows you to show how ideas are related?
A) Transitional words B) Lists C) Headings D) Design clues E) Visual aids