QFA LOANS
Don't worry, you'll bounce back!
QFA LOANS SAMPLE PAPER 1
Your time: 1 min.
QUESTIONS WITH CORRECT
ANSWERS
Correct 0
0%
Incorrect 100
Your answers
1 of 100
Term
A housing loan lender MUST:
A retain a publicly accessible register of all mortgage intermediaries
to whom they have issued a current appointment.
B publish in a national newspaper on a monthly basis a list of all the
mortgage intermediaries to whom they have issued a current
appointment on an annual basis.
C publish in a national newspaper on a yearly basis the names and
addresses of any mortgage intermediary that they have removed
from their register.
D seek approval from the Central Bank of Ireland if they wish to
remove a mortgage intermediary from their register.
Give this one a go later!
D
D
, 8.10 - Mabs (Money Advice and 4.3.3 - Affordability/Stress-Testing
Budgeting Service)
C A
2.3.6 - Rebuilding Ireland Home 6.1.5 - Obligation on public
Loan registers
Don't know?
2 of 100
Term
Ruth has arranged her own household insurance in relation to her
housing loan as required by Grand Bank. Grand Bank's interest is
noted on the insurance policy.
If Ruth makes a claim on the insurance for flood damage, to whom
will the settlement cheque be made payable?
A Ruth only.
B Grand Bank only.
C Ruth and Grand Bank.
D The contractor with whom Ruth has arranged to repair the flood
damage.
Give this one a go later!
C D
2.4.2 - Personal Guarantee 2.7.3 - Tenants in common
C A
, 5.5.1 - Household Insurance 2.5.1 - Freehold Estate
Don't know?
3 of 100
Term
The Code of Conduct on Mortgage Arrears offers protection to:
(i) owner occupiers who are in arrears.
(ii) property owners of any residential property.
(iii) owner occupiers, whilst not yet experiencing financial difficulty,
are in danger of going into arrears.
A (i) only.
B (ii) only.
C (i) and (iii) only.
D (i), (ii) and (iii).
Give this one a go later!
C
B
8.1.5 - Code of Conduct on
Mortgage Arrears (CCMA), 6.1.1 - Consumer Credit Act, 1995
2013
B
B
8.13 - Non-judicial debt resolution
6.1.5- Obligation for Public Registers
process
, Don't know?
4 of 100
Term
Janice has a loan of €3,000 on a variable interest rate from Sofas-R-
Us. Janice decides to repay her outstanding obligations early under
this credit agreement.
As a result Sofas-R-Us should :
A report Janice to the Irish Credit Bureau.
B allow Janice a reduction in the total cost of the credit.
C refund all initial charges related to granting the credit.
D seek reasonable compensation for early repayment.
Give this one a go later!
C B
7.2.2 - Cost of Credit 9.9 - Early Repayment
A C
9.5 - Consumer Credit Agreements 2.5 Ownership of Land
Don't know?
5 of 100
Term
Don't worry, you'll bounce back!
QFA LOANS SAMPLE PAPER 1
Your time: 1 min.
QUESTIONS WITH CORRECT
ANSWERS
Correct 0
0%
Incorrect 100
Your answers
1 of 100
Term
A housing loan lender MUST:
A retain a publicly accessible register of all mortgage intermediaries
to whom they have issued a current appointment.
B publish in a national newspaper on a monthly basis a list of all the
mortgage intermediaries to whom they have issued a current
appointment on an annual basis.
C publish in a national newspaper on a yearly basis the names and
addresses of any mortgage intermediary that they have removed
from their register.
D seek approval from the Central Bank of Ireland if they wish to
remove a mortgage intermediary from their register.
Give this one a go later!
D
D
, 8.10 - Mabs (Money Advice and 4.3.3 - Affordability/Stress-Testing
Budgeting Service)
C A
2.3.6 - Rebuilding Ireland Home 6.1.5 - Obligation on public
Loan registers
Don't know?
2 of 100
Term
Ruth has arranged her own household insurance in relation to her
housing loan as required by Grand Bank. Grand Bank's interest is
noted on the insurance policy.
If Ruth makes a claim on the insurance for flood damage, to whom
will the settlement cheque be made payable?
A Ruth only.
B Grand Bank only.
C Ruth and Grand Bank.
D The contractor with whom Ruth has arranged to repair the flood
damage.
Give this one a go later!
C D
2.4.2 - Personal Guarantee 2.7.3 - Tenants in common
C A
, 5.5.1 - Household Insurance 2.5.1 - Freehold Estate
Don't know?
3 of 100
Term
The Code of Conduct on Mortgage Arrears offers protection to:
(i) owner occupiers who are in arrears.
(ii) property owners of any residential property.
(iii) owner occupiers, whilst not yet experiencing financial difficulty,
are in danger of going into arrears.
A (i) only.
B (ii) only.
C (i) and (iii) only.
D (i), (ii) and (iii).
Give this one a go later!
C
B
8.1.5 - Code of Conduct on
Mortgage Arrears (CCMA), 6.1.1 - Consumer Credit Act, 1995
2013
B
B
8.13 - Non-judicial debt resolution
6.1.5- Obligation for Public Registers
process
, Don't know?
4 of 100
Term
Janice has a loan of €3,000 on a variable interest rate from Sofas-R-
Us. Janice decides to repay her outstanding obligations early under
this credit agreement.
As a result Sofas-R-Us should :
A report Janice to the Irish Credit Bureau.
B allow Janice a reduction in the total cost of the credit.
C refund all initial charges related to granting the credit.
D seek reasonable compensation for early repayment.
Give this one a go later!
C B
7.2.2 - Cost of Credit 9.9 - Early Repayment
A C
9.5 - Consumer Credit Agreements 2.5 Ownership of Land
Don't know?
5 of 100
Term
