American_Bankers_Association
CTFA · Question #313
These are additional charges you may owe if you decide to pay off your loan prior to maturity. What are these?
The correct answer is A. Prepayment penalty. See the full explanation below for the reasoning.
Question
These are additional charges you may owe if you decide to pay off your loan prior to maturity. What are these?
Options
- APrepayment penalty
- BLoan rollover
- CLoan disclosure
- DLoan repayment
How the community answered
(26 responses)- A81% (21)
- B12% (3)
- C4% (1)
- D4% (1)
Community Discussion
No community discussion yet for this question.