Real Estate Maryland-Real-Estate-Salesperson Question Answer
What is the term for paying off a loan over time?
A.
Amortization
B.
Installment
C.
Loan
D.
Mortgage
The Answer Is:
A
This question includes an explanation.
Explanation:
Amortization is the process of systematically paying down a loan balance over time through periodic payments that cover interest and principal, according to an amortization schedule.
Installment refers to a single periodic payment, not the full process.
Loan is the debt itself.
Mortgage is the security instrument (lien) that pledges property as collateral for the loan.
References (Maryland Pre-Licensing Core Content):
Maryland 60-Hour Course: “Real Estate Financing” (amortization schedules; principal vs. interest; fully vs. partially amortized loans).
Basic finance terminology as standardized across pre-licensing materials.
Maryland-Real-Estate-Salesperson PDF/Engine
Printable Format
Value of Money
100% Pass Assurance
Verified Answers
Researched by Industry Experts
Based on Real Exams Scenarios
100% Real Questions
Get 65% Discount on All Products,
Use Coupon: "ac4s65"