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![HECM Test Exam Questions And Revised Correct Answers updated](/docpics/5332030/6646f1b6a9ea2_5332030_121_171.jpeg)
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HECM Test Exam Questions And Revised Correct Answers updated
- Exam (elaborations) • 19 pages • 2024
-
- $14.99
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HECM Test Exam Questions And Revised Correct Answers 
updated 
A Counseling Agency's failure to follow all basic requirements required by HUD could 
result in which of the following: 
A. Termination of agency's HUD approval 
B. Suspension of agency's HUD approval 
C. Forfeiture of remaining federal grant funds 
D. Fines and or imprisonment 
E. a , b , and c 
F. all of the above - ANSWERS E. 
Termination of agency's HUD approval 
Suspension of agency's HUD approval 
Forfeiture of remaining ...
![HECM Test Exam Questions And Revised Correct Answers 2024](/docpics/5332024/6646f175425b1_5332024_121_171.jpeg)
-
HECM Test Exam Questions And Revised Correct Answers 2024
- Exam (elaborations) • 19 pages • 2024
-
- $13.99
- + learn more
HECM Test Exam Questions And Revised Correct 
Answers 2024 
A borrower got her HECM loan many years ago when the lending limit for her county 
was $600,000. Her home is appraised for $800,000. What is the most her repayment of 
the loan could be? 
A. $600,000 
B. $800,000 
C. 75% of appraised value 
D. Net proceeds from selling the home - ANSWERS D 
A borrower has a $200,000 home value. What is the likely upfront cost added to the 
loan balance at closing? (Revisit. Where is the formula?) 
A...
![HECM S-271 final exam questions and correct answers 2024](/docpics/5332015/6646f10862bee_5332015_121_171.jpeg)
-
HECM S-271 final exam questions and correct answers 2024
- Exam (elaborations) • 7 pages • 2024
- Available in package deal
-
- $13.49
- + learn more
HECM S-271 final exam questions and correct 
answers 2024 
List three items of information or materials that you need for an assignment? - 
ANSWERS line pack 
ppe 
irpg 
list 3 items on a resource order? - ANSWERS incident name 
reporting location 
charge code 
what are the two most important parts of the check-in process? - ANSWERS locate and 
chec- in at icp 
receive initial briefing from supervisor/helibase manager 
list 5 items of information you should receive in your initial briefing fro...
![HECM Practice exam questions and answers](/docpics/5332001/6646f0c5de6d5_5332001_121_171.jpeg)
-
HECM Practice exam questions and answers
- Exam (elaborations) • 17 pages • 2024
- Available in package deal
-
- $13.49
- + learn more
HECM Practice exam questions and 
answers 
The HECM Saver was introduced as an option to lower the upfront cost of a HECM by 
reducing the upfront mortgage insurance premium to: 
a. 0. 
b. 0.01% of the Maximum Claim Amount. 
c. 1% of the Maximum Claim Amount. 
d. 1.25% of the Maximum Claim Amount. - ANSWERS b 
If repairs are required but can be completed after closing, the lender will create a repair 
set-aside in the amount of: 
a. 15% of the maximum claim amount. 
b. 100% of the actual cos...
![HECM Exam questions and correct answers](/docpics/5331992/6646f04dcf75b_5331992_121_171.jpeg)
-
HECM Exam questions and correct answers
- Exam (elaborations) • 14 pages • 2024
- Available in package deal
-
- $13.99
- + learn more
HECM Exam questions and correct answers 
A reverse mortgage is... - ANSWERS a loan against the value of a home that provides 
cash advances to a borrower, requiring no repayment until a future time. 
A reverse mortgage is different from a home equity loan because - ANSWERS You do 
not have to make monthly repayments on a reverse mortgage 
A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, 
sells, or permanently moves away 
The purpose of a reverse mortgage is mo...
![HECM Test Exam Questions And Revised Correct Answers updated](/docpics/5331725/6646e2f4a9a8f_5331725_121_171.jpeg)
-
HECM Test Exam Questions And Revised Correct Answers updated
- Exam (elaborations) • 19 pages • 2024
-
- $16.49
- + learn more
HECM Test Exam Questions And Revised Correct Answers 
updated 
A Counseling Agency's failure to follow all basic requirements required by HUD could 
result in which of the following: 
A. Termination of agency's HUD approval 
B. Suspension of agency's HUD approval 
C. Forfeiture of remaining federal grant funds 
D. Fines and or imprisonment 
E. a , b , and c 
F. all of the above - ANSWERS E. 
Termination of agency's HUD approval 
Suspension of agency's HUD approval 
Forfeiture of remaining ...
![HECM Test Exam Questions And Revised Correct Answers 2024](/docpics/5331722/6646e2b2b32c2_5331722_121_171.jpeg)
-
HECM Test Exam Questions And Revised Correct Answers 2024
- Exam (elaborations) • 19 pages • 2024
-
- $16.49
- + learn more
HECM Test Exam Questions And Revised Correct 
Answers 2024 
A borrower got her HECM loan many years ago when the lending limit for her county 
was $600,000. Her home is appraised for $800,000. What is the most her repayment of 
the loan could be? 
A. $600,000 
B. $800,000 
C. 75% of appraised value 
D. Net proceeds from selling the home - ANSWERS D 
A borrower has a $200,000 home value. What is the likely upfront cost added to the 
loan balance at closing? (Revisit. Where is the formula?) 
A...
![HECM S-271 final exam questions and correct answers 2024](/docpics/5331713/6646e23b2a089_5331713_121_171.jpeg)
-
HECM S-271 final exam questions and correct answers 2024
- Exam (elaborations) • 7 pages • 2024
- Available in package deal
-
- $12.49
- + learn more
HECM S-271 final exam questions and correct 
answers 2024 
List three items of information or materials that you need for an assignment? - 
ANSWERS line pack 
ppe 
irpg 
list 3 items on a resource order? - ANSWERS incident name 
reporting location 
charge code 
what are the two most important parts of the check-in process? - ANSWERS locate and 
chec- in at icp 
receive initial briefing from supervisor/helibase manager 
list 5 items of information you should receive in your initial briefing fro...
![HECM Practice exam questions and answers](/docpics/5331703/6646e1c8bd7fd_5331703_121_171.jpeg)
-
HECM Practice exam questions and answers
- Exam (elaborations) • 17 pages • 2024
- Available in package deal
-
- $14.99
- + learn more
HECM Practice exam questions and 
answers 
The HECM Saver was introduced as an option to lower the upfront cost of a HECM by 
reducing the upfront mortgage insurance premium to: 
a. 0. 
b. 0.01% of the Maximum Claim Amount. 
c. 1% of the Maximum Claim Amount. 
d. 1.25% of the Maximum Claim Amount. - ANSWERS b 
If repairs are required but can be completed after closing, the lender will create a repair 
set-aside in the amount of: 
a. 15% of the maximum claim amount. 
b. 100% of the actual cos...
![HECM Exam questions and correct answers](/docpics/5331695/6646e19052a5e_5331695_121_171.jpeg)
-
HECM Exam questions and correct answers
- Exam (elaborations) • 14 pages • 2024
- Available in package deal
-
- $13.99
- + learn more
HECM Exam questions and correct answers 
A reverse mortgage is... - ANSWERS a loan against the value of a home that provides 
cash advances to a borrower, requiring no repayment until a future time. 
A reverse mortgage is different from a home equity loan because - ANSWERS You do 
not have to make monthly repayments on a reverse mortgage 
A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, 
sells, or permanently moves away 
The purpose of a reverse mortgage is mo...
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