99 If a borrower reports that there is an error ontheir credit era moroade oan originaror shouldtake which of the following actionsA) File a Suspicious Activity ReportB) Remove the report from the applicationC) Call the creditor to ask that the error beremovedD) Ask the borrower for written documentationto dispute the error

The answer to the question is D. Ask the borrower for written documentation to dispute the error

Answered: 99 If a borrower reports that there is…

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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D) The title company decides which index type the ARM will use when an applicant closes the loan, and the index type generally will change after loan closing. A Loan Estimate is considered expired and is permitted to be revised by the creditor without additional justification if the consumer indicates an intent to proceed with the transaction more than: A) 1 business day after the Loan Estimate was provided. B) business days after the Loan Estimate was provided. C) 7 business days after the Loan Estimate was provided. D) 10 business days after the Loan Estimate was provided.
Elay for Revi Recording The Misstatement of Age provision in an Accident and Health policy allows an insurance company to take which of the following actions if an feared has understated the insured's age on the policy application? OA SOB. SO C. O D. Increase the premium Adjust the benefits Lapse the coverage Cancel the policy Webcas
81 a situation where a borrower receives gift funds for a down payment and closing costs, Which of the following additional documentation must be presided by the borrower? A) A credit report on the donor B) A notarized letter from the donor C) Updated credit report on the borrower D) A letter slaned by the donor Indicating that no repayment is expected
82 Upon receipt of commission earned from a closed purchase loan, the mortgage loan originator sends the realtor a bottle of wine and a gift card to a local restaurant which of the the following regulations does this action violate? A) Violation of the Fair Housing Act B) Violation of the Truth in Lending Act (TILA) C) Violation of the Equal Credit Opportunity Act (ECOA) D) Violation of the Real Estate Settlement Procedures Act (RESPA)
1.) which of the following statements is incorrect about life settlement and variables A) the life insurance policy sold to a third party B) the purchase price equals all premiums paid up to the time of the sale C) the cash surrender value is always less than the purchase price D) the proceeds from the sale may be subject to taxes
Recon Which of the following information is included in the Consideration cause in an Accident and Health policy? O A. Description of the coverage provided OB. OC. O D. Explanation of the Contestable periods Duration of the Grace Period Schedule and amount of premium payments
Explain the auditor’s responsibility for discovering materialmisstatements due to fraud orerror, and the need to maintainprofessional skepticism whenconducting the audit.
Statement 1: A warranty is a written guarantee issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary, within a specified period of time. Statement 2: Estimated warranty liabilities can be accounted for under accrual and expense as incurred approach. Both statements are correct. Only the second statement is correct. Neither of the statement is correct. Only the first statement is correct.
87 In connection with a varlable-rate application, a lender must provide which of the following documents? A) An initial escrow statement B) A variable-rate periodic statement disclosure C) A list of Federal Housing Administration (FHA) home equity conversion mortgage counselors D) A booklet entitled "Consumer Handbook on Adjustable-Rate Mortgages"
Which one (1) of the following types of loss or expense is covered under Section I of the Tenants Comprehensive policy? OA) Assessments levied by the landlord to pay for damage caused by tenants to those areas of the premises which they all use. OB) At the insured's option, damage to the portion of the dwelling occupied by the insured as a private residence caused by theft or attempted theft. OC) Fire damage to the dwelling caused by another tenant. OD) Moving expenses incurred by cancellation of the lease agreement resulting from the occurrence of one of the insured perils.
12 The appraiser valuation Independence obligates appraisers to perform their duties in a manner free from outside influence through which of the actions. A) Encouraging a target value B) withholding payment from an appraiser C) Asking the appraiser to substantiate a value D) Communication directly between the loan officer and the appraiser
Scaffold Equipment manufactures and sells scaffolds and ladders that are used by construction firms. The products are sold directly to independent retailers in the United States. The company's risk manager knows that the company could be sued if a scaffold or ladder is defective, and someone is injured. Because the cost of products liability insurance has increased, the risk manager is considering other techniques to treat the company's loss exposures.a. Describe the steps in the risk management process.b. For each of the following risk management techniques, describe a specific action using that technique that may be helpful in dealing with the company's products liability exposure.1. Avoidance2. Loss prevention3. Loss reduction4. Noninsurance transfers

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