31. Which of the following is NOT a type of mortgage loan?
a) Fixed-rate mortgage
b) Adjustable-rate mortgage
c) Balloon mortgage
d) Personal loan
32. What is the purpose of a business term loan?
a) To save for short-term expenses
b) To make online purchases
c) To provide funding for higher education expenses
d) To provide a lump sum of funds for business needs
33. Which of the following is NOT a type of insurance policy?
a) Life insurance policy
b) Health insurance policy
c) Auto insurance policy
d) Interest rate insurance policy
34. What is the purpose of a commercial real estate loan?
a) To finance the purchase of residential properties
b) To refinance an existing mortgage
c) To provide funding for home renovations and repairs
d) To finance the purchase of commercial properties
35. Which of the following is a characteristic of a jumbo mortgage loan?
a) It is a type of government-backed loan
b) It is typically used to finance properties in rural areas
c) It is available for borrowers with low credit scores
d) It is used to finance high-priced properties
