Final answer:
A Semi-monthly payment schedule is true for making payments twice a month. Frequency and period are concepts describing how often these payments are made within a certain time frame.
Step-by-step explanation:
The answer to your question is True. A Semi-monthly payment schedule does indeed involve making payments two times per month.
In terms of frequency and period, when we say that the frequency of payment is two per month, it means you receive or make payments twice a month. Conversely, the period between these payments is half a month, as the month is divided into two even periods. This concept is important in understanding how regular transactions or income occurs over time.