87 In connection with a varlable-rateapplication, a lender must provide which of thefollowing documents?A) An initial escrow statementB) A variable-rate periodic statement disclosureC) A list of Federal Housing Administration (FHA)home equity conversion mortgage counselorsD) A booklet entitled "Consumer Handbook onAdjustable-Rate Mortgages"

In connection with a variable-rate loan application, a lender must provide the borrower with a…

Answered: 87 In connection with a varlable-rate…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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In Georgia, which of the following pieces of information about a sellers loan should not be obtained from the lender by the brokerage engagement salesperson? Any current shortage on the taxes or insurance reserves in the trust account Whether the seller's loan has a pre-payment penalty The date the most recent payment was made The percentage of the sellers income used to make the monthly principal/ interest payment
Test- National Component with Uniform State Content] Session 1- Question 25 of 120 par*) Reviewing All Questions Betvents Test Which of the following describes the margin in an ARM? AO The one-year Secured Overnight Financing Rate The number of percentage points added to index CO The benchmark interest rate, reflecting general market conditions, that is used for the loan DO The initial period of a loan when the interest rate stays the same before it begins to periodically adjust Exit
1. How do companies primarily fund themselves, through issuing debt or equity? Select one: a. Debt. b. Equity c. Neither 2. What is a shelf registration? a. A shelf registration means that an offering of securities is delayed. b. A shelf registration means that the issuer will receive extra scrutiny by the SEC. c. A shelf registration means that companies are allowed to skip a lot of filing requirements when issuing a security.
V Recording Which of the following statements is CORRECT about the Life and Health Insurance Guaranty A O A. It guarantees that anyone can buy life and health insurance. O B. It is funded by insurance companies through assessments. It guarantees that premiums will not be increased. It is limited to guarantees or policies of $1,000,000 or more. O C. O D. Cbat
For each of the following, journalize the necessary adjusting entry: (a) A business pays weekly salaries of $22,000 on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the fiscal period, assuming that
only option not explain Which one is not the step of accounting cycle? Screening Recording Analyzing
Which of the following statements is true If only the APR on a standard, 30-year, fied-rate loan transaction increases after the Closing Disciosure has bean issued? A) A revised Closing Disclosure is required at the time of consummation, regardless of arry APR changes. B) A revised Closing Disclosure is required at consummation only if the APR is not more than one eighth of one percentage point above or below the actual APR. C) A revised Closing Disclosure is required at consummation only if the APR is not more than one fourth of one percentage point above or below the actual APR. D) A revised Closing Disclosure is required if the APR increases or decreases by any amount and the finance charges increased by more than $500
Give the options or list that can be inappropriate for the the client in lending and explain both.
Economics When Best Bikes advertises and other bike producers don't, what happens in the market for bikes?A. The demand for the advertised bike becomes more elastic.B. Best Bikes' average cost of producing a small quantity of bikes rises, but the average total cost of producing a large quantity might fall.C. Best Bikes' economic profit increases.D. Best Bike's profit-maximizing quantity decreases because total fixed costs increase.
The following is a partial audit program for the audit of salestransactions.1. Foot the sales journal for one month and trace the postings to the general ledger.2. Review the sales journal for any large or unusual transactions.3. Examine sales order for evidence of credit approval prior to shipment.4. Vouch entries in sales journal to sales invoice and shipping document.5. Examine evidence on sales invoice that the prices were agreed to the approvedprice list.6. Recompute extensions of price and quantities on the sales invoice.7. Trace entries in sales journal to entry in accounts receivable master file.a. Identify which audit procedures can be tested by using attributes sampling.b. What is the appropriate sampling unit for the tests in part a.?c. List the attributes for testing in part a.d. Assume an ARO of 5% and a TER of 6% for tests of controls and 5% for substantivetests of transactions. The EPER for tests of controls is 1.0%, and for substantive testsof transactions it is 0.5%.…
During the audit of Albert Eistein, what relevant assertion should be used to record loans receivable net of an allowance for loan losses when allowance should adequately cover any estimated losses inherent in the loan portfolio but not excessive losses? a. Existence or occurrenceb. Valuation or allocationc. Cutoffd. Rights or obligations
37) From the given option, which reflects the operational position of the firm during a particular period? a. Statement of Equity b. Income Statement c. Balance Sheet d. None of the options

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