Question：
The type of residential mortgage least likely to contain a "balloon" payment is a(n):
A. fully amortizing mortgage.
B. interest-only mortgage.
C. partially amortizing mortgage.
Answer = A
A fully amortizing mortgage is least likely to contain a balloon payment because the sum of all the scheduled principal repayments during the mortgage's life is such that when the last mortgage payment is made the loan is paid in full.
CFA Level I
"Introduction to Asset-Backed Securities", Frank J. Fabozzi
Section 4.3
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19年12月-22年6月考季的考生，助力通过金融第一考 |
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权威名师倾情打造，助力通过金融第一考 |
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