1. Home equity loans typically:

a. Are fixed-rate, fixed-term loans.

b. Are first mortgage loans.

c. Are originated by mortgage bankers.

d. Have tax-deductible interest charges.

2. A simple but durable method of determining whether to refinance is to use:

a. Net benefit analysis.

b. Cost of borrowing.

c. An interest rate spread rule.

d. APR.