which statement is not true about a straight loan?

Interim financing and construction loan Which of the following statements about VA-guaranteed loans is TRUE? Four weeks after contract b. d. there are a large number of buyers and sellers. This means that if you die earlier, your beneficiaries will receive more money than if you were to die later in life. C. If an ad discloses only the APR, additional disclosures are not required. 7% 1 of 10 - Which statement is not true about a Real Estate Investment Trust? c. $126,000. a. seller retains legal title to the real estate. d. conventional loan. B. For each year, compute the revenue, expense, and gross profit reported assuming revenue is recognized over time using a. B. Entails entering into two agreements simultaneously. a. growing equity mortgage. b. satisfaction of mortgage. All FHA-insured and VA-guaranteed loans are assumable. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. Which of the following statements is NOT TRUE regarding the secondary mortgage 7% This is because the insurer has to pay for a large-scale investment portfolio, which will require a larger initial investment and thus a higher premium. Is this statement true or false? 34. b. d. The seller delivers legal title to the buyer at settlement. b. the creditworthiness of the borrower. 8. A homebuyer financed his home five years ago with a high loan-to-value, fixed-rate loan. d. Take-out loan and construction loan. c. Pass-through loan and assumption loan When he wants to retain favorable low-interest financing on the property. c. $978.54 Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. b. title insurance. 6-7 & \underline{\qquad8\qquad} & \underline{\qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad} & \underline{\qquad \qquad \qquad \qquad} \\ Typical Monthly Rent (Zillow Observed Rent Index) $1,970. Get your troublesome papers finished by our competent writers now! March1March3March5March10March20March30Beginninginventory2,000litersatacostof60cperliter.Purchased2,500litersatacostof65cperliter.Sold2,300litersfor$1.05perliter.Purchased4,000litersatacostof72cperliter.Purchased2,500litersatacostof80cperliter.Sold5,200litersfor$1.25perliter., Prepare partial income statements through gross profit, and calculate the value of ending inventory that would be reported on the balance sheet, under each of the following cost flow assumptions. \text{March 10} & \text{Purchased 4,000 liters at a cost of 72c per liter. Select one: A. the lender is the mortgagee. If the Suppose that we wish to determine whether the number of errors can be described by a Poisson distribution with mean =4.5\mu=4.5=4.5. If you do not like the idea of paying premiums over a long period of time and want to take out loans or surrender them for cash value when necessary, term life is likely your best bet. The pledging of property as security for payment of a loan is a. d. a savings and loan association. B. Published by Boni on August 12, 2022August 12, 2022. a. alienation clause. d. 8%, c b. a reconveyance deed. Promo code: SAVE20. 2019 \hspace{30pt} & 125 & \hspace{50pt} \$ 65,000 \\ a. wraparound mortgage. 6. d. provides insurance for FHA loans. 35. b. requires that a rejected credit applicant be told why credit was denied. a. b. power of sale foreclosure. 201920202021TotalNumberofemployees12520075400Developmentandtrainingcostsincurred$65,00080,00030,000$175,000. c. Establishment c. purchase money mortgage. The simple annual rate must be no more conspicuous than the APR. ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Qurate Retail, Inc. ("Qurate Retail") (Nasdaq: QRTEA, QRTEB, QRTEP) today reported fourth quarter and year end 2022 results (1). 4 of 11 - Which statement is true? 7% According to the humanistic approach, what is the role of self and free choice in shaping human behavior? b. paying real estate taxes from escrow accounts. Funds may be broadly categorised into operating (or working) capital (difference between current assets and current liabilities), and ownership (or investment) capital. d. Stress makes us more resistant to infection and heart disease e. Anxiety, irritation, and guilt all prompt very different physiological responses. Which of the following statements is not true about mortgages? Purchased4,000litersatacostof72cperliter. b. a power of sale clause. b. prepay the property taxes by January 31 of each year to satisfy the tax liability for Neither the offer nor the escrow instructions mentioned: (a) the broker as the agent, or (b) terms for payment of a commission. Black & White History Vault | The Derby scorers. b. a straight loan. c. restrict the borrower's use of the property. The loan is paid off at the end of the payment schedule. c. personally responsible for paying the principal balance. \text{March 30} & \text{Sold 5,200 liters for \$1.25 per liter. a. A construction loan (also known as a "self-build loan") is a short-term loan used to finance the building of a home or another real estate project. c. use of mortgages versus the use of deeds of trust. Which of the following best defines target premium in a universal life policy? c. an assumption. Salesperson Practice Questions/Terms&Definitions, Salesperson CompuTrainer Master Examinations Questions. BThe recommended amount to keep the policy in force throughout its lifetime. 10 of 10 - What is the foremost reason people invest in property? This means that any emergency expenses that can come up suddenly, may affect your finances and make paying the insurance premium impossible. It is the way funds used to be distributed to the builder; however, now all funds are released upfront. a. VA loan. According to Regulation Z, all of the following would be a triggering term that would require additional disclosures in an ad, except: D. Pay only $1200 per month principal and interest. True or False: SBA loans are available for businesses and nonprofits of any size. According to Regulation Z, if an ad states 100% VA financing available, which of the following is true: A. Its like saying no down payment, so it triggers other disclosures. No principal payments are being made. C. While you conduct business in a manner reflecting honesty and integrity, you have no control over those with whom you do business. Definition Amortization is the process of spreading out a loan into a series of fixed payments. Once developed, the custom training materials will belong to Elliot Company, but Philbrick does not consider them to be a separate performance obligation. $63,000. $213,500 LV 0.055 An extension of credit from a seller to a buyer to allow the buyer to complete the Term life is the simplest form of life insurance. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. c. Ginnie Mae is associated with conventional loans. A. These policies guarantee that the cash value will be at least the sum insured upon surrender and in most cases, the cash value can grow for as long as you have the policy. A straight loan is fully amortized. A. All of the following are true regarding a construction mortgage, except: A. a. private mortgage insurance. Welcome to the Capital Access Financial System (CAFS). A straight loan (also known as an interest only loan or straight term mortgage) is a loan in which the borrower is only required to pay interest payments until the maturity date of the loan, when the entire principal balance is due. 9 of 11 - Lenders can charge all of the following except which fee when a borrower gets a loan? d. A veteran can use a VA loan only once in their lifetime. D. Has a payment cap. $65,988 B. C. Never pressure any provider of goods, services, or facilities to circumvent industry professional standards. $2,250 Interested in becoming a contributor? The interest rate changes on a Variable Balance Mortgage (VBM). b. a deficiency judgment. Which of the following is the true statement about a Reduction Option Mortgage: A. the number of employees trained as a measure of the value provided to the customer. c. federal savings and loans. A friendly foreclosure enables a grantor to prevent the trustee from taking the property by b. the insurer can make policy charges without difficulty. b. real estate sales agreements. According to Regulation Z, if an ad is for credit secured by a dwelling, no other rate but APR can be stated in the ad, except: 45. 40. transaction is called a with lending practices is the B. a. C. Market interest rates must decline at least 2% before the borrower can reduce the rate. D. Any financial interest an MLO has in a property that was received as part of an inheritance in the family estate does not have to be disclosed. d. strict foreclosure. c. loan modifications. b. the principal's refusal of an offer to purchase that was presented in the name of a third party. A statement is true if what it asserts is the case, and it is false if what it asserts is not the case. What is the annual rate of interest? c. reversion. Material management, as other management branches employees the basic fund management b. Materia l should be managed before, during and after the process. b. FHA loan. d. a certificate of sale clause. A straight loan (also known as an interest only loan or straight term mortgage) is a loan in which the borrower is only required to pay interest payments until the maturity date of the loan, when the entire principal balance is due. This is false in Auckland. Non-performing loans occur when borrowers run out of money to make repayments or get into situations that make it difficult for them to continue making repayments towards the loan. a. is subject to a purchase money mortgage agreement. Lending Act? If the loan is VA guaranteed, no down payment is required. B. c. $17,250 Read more, Critical thinking means making judgments based on ________________. \hline \text { Happiness } & \text { Age } \\ Regulation Z applies to d. the satisfaction of mortgage is recorded. a. a. payment cap. Which of the following statements is TRUE? 7 of 10 - Which figure represents the amount of income available as a return to an investor? B. a. the Federal Housing Administration. D. The construction mortgage usually involves extended rate locks. Gudwriter is your best source of custom research and term papers. The Equal Credit Opportunity Act Its premium steadily decreases over time, in response to its growing cash value. According to the Code of Ethics of the National Association of Mortgage Brokers (NAMB), all of the following are true regarding confidentiality of customers information, except: A. 5 of 10 - Examining the economic soundness of a property means looking at all of the following except which? D. Its like saying no down payment, so it does not trigger other disclosures. Typical Home Value (Zillow Home Value Index) $329,542. HappinessAge624966517269\begin{array}{|c|c|} According to the Code of Ethics of the National Association of Mortgage Brokers (NAMB), all of the following are true regarding the disclosure of financial interests, except: A. MLOs must avoid all conflict of interest between your self interest and your professional duty. $75,600. The construction mortgage is an interim loan. Of the following statements, which is incorrect? c. subordination agreement. Never claim expertise where you have no special training or skills. $84,000, his monthly recurring debt is $746, his estimated monthly taxes and insurance b. purchasing existing mortgage loans. The veteran may not buy another house using a VA loan until the first loan is paid off. c. the paid mortgage is returned to the lender. Funds (or capital) is a collective term applied to the assortment of productive inputs that have been produced. An FHA-insured mortgage loan would be obtained from DRE Statutory Sponsor No. d. graduated-payment mortgage. b. This form, which is under . All of the statements regarding straight loans are correct, except: A buyer obtained a 30-year fixed-rate loan for $72,000 at a 5% annual interest rate. Handling the escrow procedures A. If the proceeds from the sale of a foreclosed property are less than the amount required to Principal is paid all at one time. b. open-end mortgage. 2020 & 200 & 80,000 \\ Which of the following statements is false regarding interest only loans: A. A non-performing loan (NPL) is a loan in which the borrower is in default and has not paid the monthly principal and interest repayments for a specified period. \end{array} 28. D. A blanket mortgage allows some of the lots of a subdivision to be released and no longer be encumbered. A) emotion Are your assignments troubling you? Which of the following would generally be characteristic of easy-qualifier loans: 13. Construction loan and variable rate loan Which statement is true? recover the $11,000 the borrower still owes? c. The buyer obtains a mortgage loan from a traditional lender. c. any qualified lending institution. D. Obligatory advances refer to a builder paying subcontractors at the appropriate time. C. Personal and confidential information provided by the customer must be used only for the business purposes for which it was intended. B. . It covers your life for a chosen period of time, during which only the death of the insured will pay out any benefit. If you are unable to pay $40 a month, you will not be able to cover your policy. 10. Exclusive net agency listing The truth is, it should not be a life policy. c. forfeiture clause. 1. If a buyer obtains a $150,000 mortgage at 7% annual interest with one and one-half d. $1,174.25, c a. C. Obligatory advances occur when the builder makes payments on the construction loan. b. an accelerated mortgage. b. Whatever assignment you have, our qualified writers will save you time and grade. Personal and confidential information provided by the customer must be kept confidential. b. c. negotiating with the seller to reduce the sales price $3,000. d. a partial release agreement. answer choices You cannot repay your federal student loan during the grace period, because it will interfere with the repayment schedule The grace period starts six months after a student receives a federal student loan deposited in escrow, and the buyer obtained a new loan for the balance of the purchase d. Total amount financed. d Underwriting guidelines are principles lenders use to evaluate the risk of making real estate loans. What type of loan is this? d. $22,500, If the yield on a 30-year fixed-rate loan is 7% and a mortgage lender charges one point, Jordan has many years in content creation specifically geared for c sold at auction as part of a Estates for years. a. blanket mortgage. C. Offers high yields to customers. What is the commonality of retail space, office space, and hospitality properties. Down payment in the amount of $15,000 was , dictum vitae odio. B. B. It is the same as a loan modification. $84,000 12 mos. The advertiser must clearly tell the whole story of the financing. d. personal credit transactions less than $25,000. b. a. $31,190 All of the following statements about Regulation Z-required disclosures are true, except: A. $500/12 months = $41.67/mo., interest only payment. the year. Any ad that uses the APR does not have to disclosure other terms. A borrower would MOST likely obtain a residential real estate mortgage loan from Lenders usually require private mortgage insurance: If the borrower has less than a 20% down payment, lenders usually require private mortgage insurance. A mortgage document contains no covenants on the part of the borrower. a. FHA and VA mortgages. 2 of 10 - When all members have unlimited liability for debts and obligations of the group, the organization is a: 33. c. insuring residential mortgage loans. Consider a constant payment mortgage of . 11. b. market prices adjust rapidly to reflect new information. c. additions to residential properties. Estates for life; 3. Happiness626672Age495169. Economics is insightful and with a pool of skilled economics experts, we can write quality papers on different topics with ease. Eyewitness testimony is vulnerable to the power of suggestion. d. the borrower credit score. C. The mortgage may last for a longer or shorter period of time than what is stated in the note. D. Easy to qualify for. Get your troublesome papers finished by our competent writers now! Monthly payments are interest only. 31. At the end of the loan term, the balance of the loan is due in a single lump-sum payment. Lorem ipsum dolor sit amet, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. B. It is a Fannie Mae approved program with an option to reduce the interest rate one time between the 13th and 59th month of the 30-year loan. }\\ total PI payments - $72,000 LV = statements not known to be untrue at the time they are made, and usually carry no criminal liability for an agent. An eligible veteran is under contract to purchase a home for $80,000 that he wants to Airline Demand," in the Journal of Economics and Business (January-February 2005). Theres no need to worry about it anymore. answer The correct answer is B. B. Equity Participation Mortgages are done primarily on which of the following kinds of projects: 16. Have you ever struggled to answer the question which statement is not true regarding a straight life policy in relation to the concept of Insurance? Federal National Mortgage Association. 5 of 11 - Which of the following is a low loan-to-value ratio? b. the Department of Housing and Urban Development. In a title theory state, a borrower's default could result in the collateral property being b. b. conventional mortgages. c. deed in lieu of foreclosure. When he doesnt want to refinance an existing low-interest loan. The major participants in the secondary mortgage market are the Federal National Mortgage Association, Federal Agricultural Mortgage Corporation. d. Open listing, Retail Chapter 1: Marketing All Around Us - GT, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Alexander Holmes, Barbara Illowsky, Susan Dean, Don Herrmann, J. David Spiceland, Wayne Thomas, NUR 318 Pathophysiology Chapter 11: Innate an. LOANS Section 3.2 RMS Manual of Examination Policies 3.2-3 Loans (11-20) Federal Deposit Insurance Corporation INTRODUCTION Section 39 of the Federal Deposit Insurance Act, Standards for Safety and Soundness, requires each federal banking agency to establish safety and soundness standards for all Which of the following are true for a coupon bond? All of the following make up the big three credit reporting agencies except: Which of the following is an example of derived demand? All of the following statements are true about a partially amortized loan, except: A. b. While not identical, ASC 810-10-45-1 specifies that consolidation involves eliminating intra-entity balances and transactions including any open account balances, security holdings, sales and purchases, interest, dividends, etc. Annual percentage rate What must the lender do to A. straight term loan. a. What do you conclude about whether the number of errors can be described by a Poisson distribution with =4.5\mu=4.5=4.5 ? Covers more than one piece of property. c. forfeiture clause. B. An agent who represents both the buyer and the seller in a transaction is known as a: What must occur before a broker decides to exercise an option during an option listing? A d. an amortized loan. Lease with option to buy 27. A mortgage loan requires monthly debt service payments of $675.75 for 20 years and a 0.06 = $210,000 LV. EXCEPT A borrower who can afford to make higher payments. . formation, a certificate of reasonable value (CRV) for $77,000 was issued for the www.sec.gov and click Company Filings Search under Filings.. Change a fixed-rate loan to an adjustable. 7 of 11 - Which loan covers the period of time between the end of one mortgage and the beginning of another? c. Total of all finance charges Of the following statements, which is incorrect? not to approve a borrower's mortgage loan application EXCEPT If you pay the full premium for a life insurance policy and are unable to continue paying it, you can surrender the policy or take out a loan to cover your payment. b. a pension fund. 98 OT TUV Which statement is not true about a straight loan? What is the probability of flipping a head on your next coin flip? b. equity. a. d. evidence of insurability is required with any change in premium. A real estate loan payable in periodic installments that are sufficient to pay the principal atement is not true about a straight Payments are typically higher than with other loans. d. is a state banking law that regulates mortgage lender practices. \text{March 1} & \text{Beginning inventory 2,000 liters at a cost of 60c per liter. means that part of the monthly payment is used to pay interest on the loan and part is used to reduce the amount of the loan. C) The face value of the policy is paid to the insured at age 100. c. Seek a judgment by default VA loans: Eligible service members, veterans and surviving spouses can obtain a VA-backed mortgage with no money down. The unpaid \text{March 5} & \text{Sold 2,300 liters for \$1.05 per liter. d. A promissory note has to be in writing to be enforceable, but it is not normally $386.64 360 months = $139,190 c. A deed of trust is typically conveyed by the trustor to the beneficiary. C) The face value of the policy is paid to the insured at age 100. associations. market prices adjust rapidly to reflect new information. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. a. for the highest amount. The clause in a deed of trust or mortgage that permits the lender to declare the entire unpaid balance immediately due and payable upon default by the borrower is the a. alienation clause. A straight note is also called an interest-only loan or a bullet loan. $2,000 What is the probability of flipping a head on your tenth toss? D. The ad must state credit terms that could be arranged or offered by the creditor. Suppose you are flipping a fair coin in a coin-flipping contest and have flipped eight heads in a row. b. that was recorded first. 42. points, how much will the lender charge for the points at settlement? b. commercial purposes. The purpose of a deed of trust is to statutory means. }\\ General and limited partnerships are the two types of typical partnerships. The Knicks equaled a franchise record with 14 first-half 3-pointers, shot a robust 60 percent from the field and annihilated the crumbling Nets, 142-118, at a joyous and sold-out Garden for their . The type of real estate loan that allows the lender to increase the outstanding balance of a a. 1,000 = $235,601 max on debt ratio. Straight life insurance policies have fixed premiums and therefore offer cash flow predictability. a. a deed in lieu of foreclosure. agent (real estate broker), and C. It is based on multiplying the interest rate by the loan amount and dividing by 12. B. Straight life insurance policies cannot be cashed in if you want to take out a loan or make other necessary changes to your life. 50. What is Priceline.coms dividend policy? principal (buyer or seller), d. federal banks. Straight life insurance policies are not for short-term goals. the principal's refusal of an offer to purchase that was presented in the name of a third party. c. $3,000 b. redemption. A building was sold for $115,000. Which of the following is a way to create an agency relationship? Asset depletion loans: If you have no income but significant assets, a. It could involve cash out to the borrower, or not. C. A blanket mortgage usually includes a full release clause. A blanket mortgage covers more than one parcel of land or lot. = $4,950 annual int. d. any qualified insuring institution. B. B) Its premium steadily decreases over time, in response to its growing cash value. c. prevent many individuals from owning homes. The limited partners have a passive role and their liability is limited only to the amount of capital invested. D. The loan must be repaid before the borrower's death. The designation will be void/. Special offer! What is the maximum loan for which a borrower can qualify if his annual income is \end{array} loan up to the original sum in the note while advancing additional funds is the All of the following would be true in a Refinance Mortgage, except: A. a. legal title. listings. Is there a charge for an eStatement subscription? The financial interest in a property held by the owner in excess of any liens against it is Exclusive agency listing In this situation, the veteran may consider any of the following options c. 7% satisfy the outstanding mortgage loan debt and legal expenses, the grantor may be B. mortgage loan by a new purchaser is An eStatement is an electronic version of your statement. 6 of 11 - Mark gets a home loan and the lender will charge him 3 points at closing. Donec aliquet. At the end of the term, the loan balance will be negative. An unusual characteristic of a Variable Balance Mortgage (VBM) is which of the following: A. 0217 | NMLS Course Provider #1400953 | BREA Course Provider #CP346803. Professional conduct in the mortgage profession involves which of the following: A. Get your troublesome papers finished by our competent writers now! Critical thinking means making judgments based on ________________. }\\ True or False: SBA loans are available for businesses and nonprofits of any size. Which of the following is a unique feature of credit unions? B. If the monthly interest payment at 6% is $1,050, the principal amount of the loan is 21. $1,050 12 mos. Suppose that the number of employees in a new company is expected to grow, with the number of employees modeled by N=N=N= 1000(0.01)0.5t1000(0.01)^{0.5^t}1000(0.01)0.5t, where t is the number of years after the company was formed.

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