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What is the full form of "ARM"? - Practice (Bengali) - ObjectiveMcq

HomePracticeAbbreviationsBasicsWhat is the full form of "ARM"?...

Basics AbbreviationsMedium

What is the full form of "ARM"?

Correct Answer: D — Adjustable Rate Mortgage

Explanation:

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.

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