Chapter 9 Quiz Sample Solutions

Chapter 9 Quiz Sample Solutions - 1 Answer Key 1 2 3 4 5 6...

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Answer Key 1. C 2. D 3. C 4. B 5. A 6. C 7. D 8. A 9. C 10. C 11. D 12. B 13. B 14. C 15. D
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Answer Key with Explanations Question #1 Answer: C Explanation: A security agreement is the security instrument used to secure a loan for the purchase of personal property. A bill of sale is the instrument that actually transfers title to personal property. Question #2 Answer: D Explanation: To create a tight money market, the Federal Reserve would take actions that reduce the amount of funds available to lend. It would do so by raising key interest rates (the discount rate and the federal funds rate), raising reserve requirements, and selling bonds. Question #3 Answer: C Explanation: A purchase money mortgage is any loan taken out to finance the purchase of real property that will be secured by that property. Therefore, it can't take priority over liens that were previously recorded (unless they had a subordination clause) or over tax liens. Question #4
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This note was uploaded on 01/26/2012 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

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Chapter 9 Quiz Sample Solutions - 1 Answer Key 1 2 3 4 5 6...

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