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AAFM Exam CWM_LEVEL_2 Topic 6 Question 86 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 86
Topic #: 6
[All CWM_LEVEL_2 Questions]

Section A (1 Mark)

A(n)____________________________________________ is where the customer can use the difference between some percentage of the appraised value of their home and the mortgage remaining to secure a loan. This loan can be used to fund a college education, pay for a vacation or pay for home improvements.

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Suggested Answer: B

by Mitsue at Sep 07, 2024, 04:29 AM

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Diane
4 days ago
This is definitely a Home Equity Loan. I remember learning about those in my personal finance class. Seems like a useful option if you need some extra funds.
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Trinidad
6 days ago
I think it's gotta be Home Equity Loan. That's the one where you can tap into the value of your home to get some extra cash.
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Hana
10 days ago
I agree with Alyce, A) Home Equity Loan makes the most sense in this scenario.
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Juan
15 days ago
Home Equity Loan sounds like the right answer here. It allows you to use the equity in your home to secure a loan for other expenses.
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Alyce
20 days ago
I think it's A) Home Equity Loan because it mentions using the appraised value of the home to secure a loan.
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Melynda
24 days ago
A) Home Equity Loan
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