Free CTFA Exam Braindumps
Certified Trust and Financial Advisor (CTFA) Questions 221–225 (page: 46)

Updated On: 9-Feb-2026

Advantages of leasing are all of the following EXCEPT:

  1. Better car for less money
  2. A new car every few years
  3. No trade in hassle at the end of the lease
  4. No mileage penalty

Answer(s): D



Disadvantages of leasing are all of the following EXCEPT:

  1. When interest rates are low, owning makes more financial sense than leasing
  2. No mileage penalty
  3. Increased flexibility
  4. No trade

Answer(s): D



A form of direct ownership f an individual unit in a multi-unit project in which lobbies, swimming pools, and other common areas are jointly owned by all property owners in t project.

  1. Condominium
  2. Single family homes
  3. Cooperative apartment
  4. Rental units

Answer(s): A



An apartment in a building in which each tenant owns a share of nonprofit cooperation that owns the building.

  1. Cooperative Apartment
  2. Rental contract
  3. Rent-or-buy
  4. None of these

Answer(s): A



A rental contract:

  1. A legal instrument that protects both the lesser and the lessee from an adverse action by the other party
  2. It specifies the amount of monthly payment
  3. It specifies the length of the lease agreement
  4. All of these

Answer(s): D



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