32. A type of loan in which the mortgage rate floa...

NY Real Estate Practice Exam Questions Quiz

Question Number 32

32. A type of loan in which the mortgage rate floats based on the fluctuations of a standard index is called a(n):

a. adjustable rate mortgage

b. straight term mortgage

c. fixed rate mortgage

d. fluctuating mortgage

✔ Correct Answer:

a. adjustable rate mortgage

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NY Real Estate Practice Exam Questions Quiz

Question Number 32

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