QFA Loans Sample Paper 2 – Accurate Answers To
All Questions
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Terms in this set (100)
A lifetime loan is where: B the loan is repaid from the sale proceeds of the
property.
A a property is jointly owned by the
lender and
borrower.
B the loan is repaid from the sale
proceeds of the property.
C the borrower pays a notional rent for
use of the property during their
lifetime.
D a property is sold to the financial
institution at a discounted value by a
borrower in arrears.
,A hire purchase agreement is where a D agrees to hire goods from a finance company over
consumer: a particular period with the option to purchase at the
end of the period.
A purchases goods now from a retailer
with the aid of a loan provided by a
finance company.
B agrees to hire goods from a finance
company over a particular period by
paying a monthly fee, and must return
the goods to the finance company at
the end of the specified time.
C agrees to hire goods from a finance
company over a particular period with
the goods transferring automatically to
the consumer at the end of the period.
D agrees to hire goods from a finance
company over a particular period with
the option to purchase at the end of
the period.
The Financial Services and Pensions C an individual who has not gone through the internal
Ombudsman CANNOT in any complaints procedure of the financial services
circumstances investigate complaints provider.
about a regulated financial services
provider received from:
A an individual who has a complaint
relating to a matter which occurred
more than three years ago.
B a limited company with a turnover
under €3 million.
C an individual who has not gone
through the internal complaints
procedure of the financial services
provider.
D a charity, club or partnership.
,Under the Family Home Protection Act, A A non-owning spouse.
1976, whose interest is primarily
protected?
A A non-owning spouse.
B The mortgage lender.
C A registered property owner.
D The children of the registered
property owner.
John is offered a housing loan by Nore D no capital is repaid during this period.
Bank whereby interest only is payable
for the first three years, after which
John will have to make capital and
interest payments.
John is at increased risk of negative
equity during the first three years
because:
A interest rates could rise during this
period.
B interest rates could fall during this
period.
C John's net income will fall at the end
of this period.
D no capital is repaid during this
period.
, Which of the following statements C (ii) and (iii) only.
about Pension Mortgages are
accurate; (i) No payments are made to
the pension policy throughout the
term of the agreement. (ii) Interest only
repayments are made to the mortgage
during the term of the agreement. (iii)
There is a risk that the value of the
pension policy will not be sufficient to
clear the outstanding capital on the
expiry date of the mortgage?
A (ii) only.
B (i) and (ii) only.
C (ii) and (iii) only.
D (i), (ii) and (iii).
To be eligible for a Rebuilding Ireland C a self-employed applicant must submit two years
Home loan: certified accounts.
A it is sufficient for one party in a joint
application to be a first-time buyer.
B an applicant must be in continuous
employment for one year as the
primary applicant.
C a self-employed applicant must
submit two years certified accounts.
D a single appliacnt must earn a
minimum of €75,000 per annum.
All Questions
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Match Blocks Charms NEW
Terms in this set (100)
A lifetime loan is where: B the loan is repaid from the sale proceeds of the
property.
A a property is jointly owned by the
lender and
borrower.
B the loan is repaid from the sale
proceeds of the property.
C the borrower pays a notional rent for
use of the property during their
lifetime.
D a property is sold to the financial
institution at a discounted value by a
borrower in arrears.
,A hire purchase agreement is where a D agrees to hire goods from a finance company over
consumer: a particular period with the option to purchase at the
end of the period.
A purchases goods now from a retailer
with the aid of a loan provided by a
finance company.
B agrees to hire goods from a finance
company over a particular period by
paying a monthly fee, and must return
the goods to the finance company at
the end of the specified time.
C agrees to hire goods from a finance
company over a particular period with
the goods transferring automatically to
the consumer at the end of the period.
D agrees to hire goods from a finance
company over a particular period with
the option to purchase at the end of
the period.
The Financial Services and Pensions C an individual who has not gone through the internal
Ombudsman CANNOT in any complaints procedure of the financial services
circumstances investigate complaints provider.
about a regulated financial services
provider received from:
A an individual who has a complaint
relating to a matter which occurred
more than three years ago.
B a limited company with a turnover
under €3 million.
C an individual who has not gone
through the internal complaints
procedure of the financial services
provider.
D a charity, club or partnership.
,Under the Family Home Protection Act, A A non-owning spouse.
1976, whose interest is primarily
protected?
A A non-owning spouse.
B The mortgage lender.
C A registered property owner.
D The children of the registered
property owner.
John is offered a housing loan by Nore D no capital is repaid during this period.
Bank whereby interest only is payable
for the first three years, after which
John will have to make capital and
interest payments.
John is at increased risk of negative
equity during the first three years
because:
A interest rates could rise during this
period.
B interest rates could fall during this
period.
C John's net income will fall at the end
of this period.
D no capital is repaid during this
period.
, Which of the following statements C (ii) and (iii) only.
about Pension Mortgages are
accurate; (i) No payments are made to
the pension policy throughout the
term of the agreement. (ii) Interest only
repayments are made to the mortgage
during the term of the agreement. (iii)
There is a risk that the value of the
pension policy will not be sufficient to
clear the outstanding capital on the
expiry date of the mortgage?
A (ii) only.
B (i) and (ii) only.
C (ii) and (iii) only.
D (i), (ii) and (iii).
To be eligible for a Rebuilding Ireland C a self-employed applicant must submit two years
Home loan: certified accounts.
A it is sufficient for one party in a joint
application to be a first-time buyer.
B an applicant must be in continuous
employment for one year as the
primary applicant.
C a self-employed applicant must
submit two years certified accounts.
D a single appliacnt must earn a
minimum of €75,000 per annum.
