Repayment Methods Quiz
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Repayment Methods Quiz

Created by
@AffectionateIndicolite

Questions and Answers

What is the purpose of the repayment method?

  • To determine the interest rate
  • To specify the borrower's credit score
  • To calculate the loan origination fee
  • To outline how the borrowed amount will be paid back (correct)
  • What does the repayment method typically include?

  • Borrower's employment history
  • Real estate market trends
  • Credit card payment options
  • Repayment schedule and interest details (correct)
  • Why is understanding the repayment method important for borrowers?

  • To avoid defaulting on the loan (correct)
  • To understand real estate market trends
  • To increase the loan origination fee
  • To negotiate the interest rate
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