Financing and settlement Study guides, Revision notes & Summaries

Unit 6 Exam Financing and Settlement 2024 Questions and Answers Complete

Real Estate Financing and Settlement Exam Questions with Correct Answers Graded A+ On a real estate closing transaction involving an exclusive right-to-sell listing, the commission is a debit to the seller; The commission is a seller's obligation (debit) and is never a credit. Which lender uses its own funds to fund loans that will be sold in the secondary mortgage market? Mortgage banker; Mortgage brokers seldom use their own funds. The VA only guarantees loans. A buyer would have ...

Unit 6 Exam Financing and Settlement Exam Questions and Answers 100% An amortized loan ____. Which of the following is correct?1. Is the same as a budget loan if it includes taxes and insurance 2. Allows the borrower to "re-borrow" the remaining principal each year at the established interest rate until there is no principal left to borrow 3. Has a fixed monthly payment 4. All of the above are correct. All of the following are correct Comparing a mortgage and deed of trust as financin...

The rules were that what you borrowed, plus interest, must be paid back the next year or at some other agreed upon time. This is called a _______. correct answers Term Loan A word that literally means to kill off. Each payment is an ___________ partially pays off BOTH principal and interest. correct answers Amortize. Amortized Loan. A borrower's personal promise to repay a debt according to the agreed terms. correct answers Promissory Notes. Secured by a Deed of Trust. In some states, ...

Mutually owned co-operative financial institutions offering benefits to members through a trust-like structure" describes which type of Insurer/Fund Manager? - Answer- Friendly Society Which is the decision-making process of framing? - Answer- To remove the 'noise' from an issue to allow us to see the problem for what it is Under the RG271 what is the maximum timeframes for IDR response for a Superannuation trustee complaints? - Answer- 45 days after receiving the complaint In the se...

Unit 6 Exam Financing and Settlement | with complete solution | Latest 2024/2025

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

Conduct and Practices Handbook (CPH) Exam 136 Questions with Answers Duty of care - CORRECT ANSWER This refers to obligation #3 of registered representative (RR) about acting honestly, in good faith, and in a professional manner. This is a requirement to provide advice to clients with those attributes in mind along with the proper skills and knowledge to do so. It is important to note that the standard of care provided is not a standard of perfection. RRs are usually held to this standard muc...

Instructor Solution Manual for Law for Business 15th Edition Barnes Chapter 1-47. PART ONE: Introduction to the Law Chapter 1: Law and Legal Reasoning Chapter 2: Dispute Settlement Chapter 3: Business Ethics and Corporate Social Responsibility Chapter 4: Business and the Constitution Chapter 5: Criminal Law and Procedure Chapter 6: Intentional Torts Chapter 7: Negligence and Strict Liability Chapter 8: Intellectual Property PART TWO: Contracts Chapter 9: The Nature and Origins of Contracts Chapt...