Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

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How often are payments made in a biweekly loan?

  1. Once a week

  2. Once a month

  3. Every two weeks

  4. Twice a year

The correct answer is: Every two weeks

A biweekly loan means payments are made every two weeks, which is equivalent to 26 payments in a year, rather than the usual 12 monthly payments. This is different from the other options because -A) Once a week is too frequent for a biweekly loan -B) Once a month is not often enough for a biweekly loan -D) Twice a year is also not often enough for a biweekly loan, as it would only result in 2 payments in a year instead of 26.

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