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Questions and Answers
What is the characteristic of a fixed interest type?
What is the characteristic of a fixed interest type?
- Remains the same throughout the fixed rate term (correct)
- Is lower than the lender's standard variable rate
- Is the total cost of a loan
- Changes over time
What is the Annual Percentage Rate (APR) a measure of?
What is the Annual Percentage Rate (APR) a measure of?
- The cost of borrowing money
- The rate at which a commercial bank would charge to their most financially strong customers
- The total cost of a loan, including both the interest rate and any other associated fees (correct)
- The rate of interest set by banks for their best customers
What is the characteristic of a discounted interest type?
What is the characteristic of a discounted interest type?
- Remains the same throughout the fixed rate term
- Is lower than the lender's standard variable rate, and it’s what a bank will offer its customers for a specific period of time as a promotional deal (correct)
- Is the total cost of a loan, including both the interest rate and any other associated fees
- Changes over time
What is the prime interest type related to?
What is the prime interest type related to?
Which type of interest is charged on the principal amount as well as any accumulated interest?
Which type of interest is charged on the principal amount as well as any accumulated interest?
What is the main characteristic of straight commission?
What is the main characteristic of straight commission?
Which type of commission includes a basic or fixed salary plus a commission?
Which type of commission includes a basic or fixed salary plus a commission?
What is public interest concerned with?
What is public interest concerned with?
In which type of commission is the total earning of the sales agent based on commission rates for different levels of sales?
In which type of commission is the total earning of the sales agent based on commission rates for different levels of sales?
What is the additional commission paid to a sales supervisor or head of department based on store sales or the sales of the representatives who work under the supervisor?
What is the additional commission paid to a sales supervisor or head of department based on store sales or the sales of the representatives who work under the supervisor?
Which type of commission is usually at a fixed percentage?
Which type of commission is usually at a fixed percentage?
