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ARMa questions and answers verified 2024 $13.89   Add to cart
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ARMa questions and answers verified 2024
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ARMa questions and answers verified 2024

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  • October 1, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • arma questions and answers verified 2024

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  • ARM
  • ARM

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ARM's -- MLO Exam
ARM - correct answer ✔Adjustable Rate Mortgage's


Terms with ARM's - correct answer ✔1) Index
2) Margin [spread]
- Index + Margin = Fully Index Rate


Define "index". - correct answer ✔Cost of money


Define "margin/spread". - correct answer ✔Profit margin


Other terms? - correct answer ✔Promo / Discount / Teaser / Start Rate all
just mean the "starting rate"


How do you describe the years in an ARM? - correct answer ✔- 1/1: this is a
regular adj. rate mortgage
- 3/1: Hybrid ARM loan
- 5/1: Hybrid ARM loan
- 7/1: Hybrid ARM loan
- 10/1: Hybrid ARM loan


-and Caps


How to understand the Hybrid ARM loan? - correct answer ✔-a loan where
interest rate does not change for a set number of years and then it adjusts
once a year every year after that.

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