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Accuracy - The way things actually are All reasoning contains _____ by which one reaches conclusions and gives meaning to_______ - inferences and information All reasoning has ______ and _______ - implications and consequences All reasoning has a - purpose All reasoning is based on - assumptions All reasoning is shaped by and expression through - concepts All reasoning occurs from some - point of view All reasoning seeks to settle some - question Breadth - Considers the issue at hand fr...

Confidence in Reason - Proceeds from the belief that both the individual's and society's higher interests are best served by unfettered reason Critical thinking comprises three interlinking dimensions - Analyzing, evaluating, and improving Critical thinking is characteristically - self-directed, self-disciplined, self-monitored, and selfcorrective Egocentrism - the tendency to view everything in relationship to oneself Fair mindedness - The commitment to consider al relevant opinions equa...

accuracy - how things actually are assumptions - beliefs that are taken for granted bias - uncritical preference for some particular point of view breadth - issues from all relevant viewpoints clarity - clearness in thought or expression concepts - categorizing information depth - deep thinking that addresses the complexities and details facts and opinion - To achieve objectivity, one must distinguish between_____________________ Fair-Minded Critical Persons - Reject manipulation and con...

A city located in the western United States has been experiencing drought conditions for the past 10 years, but this year the area received record levels of precipitation. The city council has called for studies to be done on water levels, and the evidence shows that, while the ground water tables are up considerably, lake levels in the state are lower than their highest year, which occurred 12 years ago. The city has decided to implement water rationing policies at the beginning of the summ...

Confidence in Reason - Proceeds from the belief that both the individual's and society's higher interests are best served by unfettered reason. Opposite of Distrust of Reason. Egocentrism - The tendency to view everything in relationship to oneself and to regard one's own opinions, values, or interests as most important. Fair-mindedness - The commitment to consider all relevant opinions equally without regard to one's own sentiments or selfish interests. Bringing an unbiased and unpreju...

BLAW EXAM PACKAGE DEAL WITH COMPLETE SOLUTIONS.

3 types of law - constitution statute case law (common law) actual authority - when an agent is directly appointed by the principle apparent authority - by communication to the third party, orally or in writing, (indirectly authorize) can partnerships be oral? - yes case law - used purely to decide a case in controversy to explain the constitution collecting bargaining - negotiation of wages DBAs - doing business as, form that must be filed in order to become a sole propriotoship dispo...

(open terms of a contract) Payment - due when the good is picked up (open terms of a contract) Place of Delivery - if unspecified, the buyer picks up the good from the sellers place of business (open terms of a contract) Price - Reasonable price, determined by the market of the good (open terms of a contract) Time - reasonable amount of time, dependent on the good 2 instances Stolen goods - -stolen by force or theft -stolen by fraud 2 Parties in a Promissory Note - -Maker: the party who i...

3 personal defense - mental illness, breach of warrantee and bankruptcy Accept goods-buyer - verbally, resell or alter the goods, obtain the goods, delay the rejection of goods Accommodation Party - someone who lends his name to someone Additional terms - only applies to contract to contracts between merchants, one party asks unimportant terms to the contract those terms become apart of the contract unless the other party objects article 2 - does not cover the sale or lease of real proper...

Adverse Possession - A person takes possession & use of a property belonging to another. Possession must be open, notorious, hostile & uninterrupted for a certain period of time. APA - American Psychological Association arbitrary and capricious - a judgment or decision, by an administrative agency or judge, which is without basis in fact or in law. Such a decision is often referred to as being without a rational basis. at-will employment - employment which can be terminated at will by the e...

A draft is an ______written order by one party (drawer) that directs the 2nd party, the drawee, to pay a 3rd party, the payee. - unconditional Additional terms to a contract - (ONLY APPLIES TO A CONTRACT BETWEEN MERCHANTS) in a contract between merchants where one party adds unimportant terms in a contract, those terms become apart of the contract unless the other party objects in a reasonable time Article 2 - Law of Sales Bailee - Person given goods with the intention of returning them B...

3 strikes rule - Statute of frauds, if all 3 requirements are met, you cannot raise statute of frauds 3rd Party Beneficiary - Ensures a 3rd party will receive the benefits of a contract A promise to charity is/isn't enforceable even without consideration - is Acceptance - Must be definite and unconditional, can only accept an offer made to YOU Offeror can request acceptance be made in a certain way After acceptance, even with death, it is/is not still a binding offer - is Age Discriminati...

NMLS Bundled Exams New Versions Updated 2024/2025 Fully Solved 100%

(FCRA) Fair Credit Reporting Act - Regulation V - Gives consumers access to the same information about themselves that lenders use when making credit decisions Entitles consumers to free credit report upon adverse action or identity theft (Not Credit Score) allows consumers to dispute credit report Provides additional rights for identity theft victims and active duty military personnel (FCRA) Fair Credit Reporting Act - Regulation V Disclosures - A one-time written notice of derogatory inf...

"E-Sign Act" is short for: A. The Electronic Signatures Legitimization Act B. The Electronic Signatures in Global and National Commerce Act C. The Electronic Safety of Giving Net Authorization Act D. The Electronic Safety in Global and National Transactions Act - B. The Electronic Signatures in Global and National Commerce Act "Equity" is defined as: A. The difference between the fair market value of a property and the current balances of any liens B. The difference between the appra...

"Integration" is - depositing cahs and then using that cahs to purchase real estate folowed by using that real estate as collateral on a loan which is paid back with large cash payments "Placement" is - the process of introducing unlawful proceeds into the financial system a 100k loan has a 7.5% payment cap and a current monthly payment of 1k At the next adjustment payment could not be increased more than - 1075% bc the 7.5% cap is on the payment not the mortgage a 2/1 buydown - reduce...

5 rights under FACRA - 1. Right to adverse action notice 2. Free copy of credit report 3. Request credit score 4. The right to dispute incomplete or inaccurate information 5. Limit prescreened offers A registered LO means any individual who is an employee of ... - *a depository institution *A subsidiary that is- *owned and controlled by a depository institution and *regulated by a Federal Banking agency;or *An institution regulated by the Farm Credit Administration *And is registered and ...

A - The mortgage loan originator's role involves all of the following EXCEPT: A. Loyalty is owed to the party paying the mortgage loan originator's compensation. B. Ensuring the loan program is suitable for the borrower's needs. C. Qualifying the borrower's financial ability to meet the loan obligations. D. Helping the borrower compile a complete and accurate application. A - Which of the following statements is true about the SAFE Act? A. Requires states to set minimum net worth or su...

________ are non-conforming loans because they exceed the FNMA loan limit of $____________ - Jumbo loans, $417,000 ________ backs all government loans (FHA, VA, USDA) - Government National Mortgage Association (Ginnie Mae/GNMA) ________ loans are loans that 'conform' to FNMA, FHLMC standards - Conforming A borrower must make a 10% down payment on a purchase transaction to qualify for the loan. The borrower made a $1,000 good faith deposit at the time of acceptance of the offer to purchas...

A required, standardized Good Faith Estimate (GFE) does this: - Facilitates shopping among settlement service providers and improves disclosure of settlement costs and interest rate related terms. A revised GFE must be issued: - Within three business days of the loan originator becoming aware of information that constitutes changed circumstances. Borrower Credit: - "yield spread premium" (YSP), the borrower credit is a fee paid to the loan originator or mortgage broker by the lender when ...