What is the full form of "ARM"?
A. Adjustable Rate Mortgage
B. Annual Report Margin
C. Account Record Management
D. Average Retail Margin
Answer: Option A
Solution (By Examveda Team)
An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. With an adjustable-rate mortgage, the initial interest rate is fixed for a period of time. After that, the interest rate resets periodically, at yearly or even monthly intervals.This Question Belongs to Abbreviations >> Finance Abbreviations
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