Glb Samenvattingen, Aantekeningen en Examens

Michigan Variable Annuities Exam Questions and Correct Answers 2024 Other names for pure life settlement - Answer --life income -life annuity What annuity settlement option produces the largest monthly income guaranteed for life? - Answer - pure life settlement option second life contingency option - Answer -life with period certain (ie. 10 years) so even if the annuitant does or does not die within that timeframe, insurer guarantees to continue the annuity payments to a named beneficiar...

USAA Auto Insurance Exam With 100% Correct Answers Terrorism Risk Insurance Act (TRIA) - answerIn 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen - answerIn 2005 legislation was modified and coverage was extended by the Terrorism Risk Insurance Extension Act FCRA- when, what, and what it stands for - answerIn 1970 the Fair Cred...

Prequalification an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lenders standards USDA ratio 29/41 FHA ratio 31/43 Asset based loan -loans based on borrowers equity -bad when lenders fail to consider ability to repay High Cost Loan Reg Z - Sec. 1026.32 -APR will exceed by more than 6.5% for first lien loans or by more than 8.5% for subordinate -APOR - average prime offer rate 1. 5% 2. 6.5% 3. 8.5% RE...

This document is for the first part of the course (until the midterms) as a preparation for the midterm exam.

Which household does NOT qualify as a protected class under the familial status clause of the Fair Housing Act? Seniors Ralph and Alice are thinking about getting an HECM reverse mortgage. If they choose the tenure payment option, they will receive their money as equal monthly payments for as long as they staying in the home. 00:04 01:15 Department of Housing and Urban Development Approves lender that want to make FHA loans and enforces Fair Housing Act The Fin...

NMLS Texas Exam 2023 Front End Ratio Formula (Mortgage to income/Housing expense ratio) - ANSWER-Monthly PITI/ gross monthly income Federal Housing Finance Authority - ANSWER-Ensures GSEs have adequate practices and capital to engage in mortgage business. LTV Formula - ANSWER-Loan amount/value of property LTV % required to avoid PMI - ANSWER-Less than 80% A VA loan called IRRRL stands for - ANSWER-Interest rate reduction refinance loan Underwriters Review of capital deals wit...

GLBA Reg P. Questions and answers, rated A+ Which of the following is not a requirement of GLBA's Title V and Regulation P? A. Establish a privacy policy B. Establish a social media policy C. Give customers and other consumers the right to prohibit information sharing in certain circumstances D. Provide written notices of the bank's privacy practices - -B GLBA applies to nonpublic information about business entities. - -False- GLBA applies to nonpublic personal information about in...

What is an example of corporate social responsibility (CSR)? A. The CEO of an internet provider takes a large end-of-year bonus while shareholders lose money on the dwindling stock value. B. A software company outsources its production facility to another location to take advantage of a tax loophole. C. A large technology company dumps old electronic waste in impoverished third-world countries. D. A local IT firm invests in green energy by partnering with a small business to install solar pa...

Unfair practices related to loan modification programs and scams perpetrated by mortgage relief companies led to the enactment of Correct Answer: FTC MARS Rule. Your Answer: GLB Safeguards Rule. Your Answer: FTC Red Flag Rules. Your Answer: Dodd-Frank Ability to Repay Rule. These predatory activities led to the enactment of the MARS Rules. A lender is obligated to provide a borrower with a Closing Disclosure, how many business days prior to the loan closing if requested to do so? Corr...

Reg B - ANSWER ECOA Reg C - ANSWER HMDA Reg G - ANSWER SAFE - registered Reg H - ANSWER SAFE - licensed Reg N - ANSWER MAP Rule Reg P - ANSWER GLB Act Reg V - ANSWER FCRA Reg X - ANSWER RESPA Reg Z - ANSWER TILA LE - ANSWER Requires business days to include all days open Does count for business days for CD include Saturdays? - ANSWER No - requires business days to include all but Sun/Holidays Elements of a Completed Application - ANSWER Name Address Subject pro...