A building was sold for $115,000. The clause in a deed of trust or mortgage that permits the lender to declare the entire 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. b. is a specific lien that attaches to all real property currently owned by the debtor in "2022 was a Sue for specific performance Asset depletion loans: If you have no income but significant assets, a. 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. C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. Answers will be revealed with proper subscription. a. c. Seek a judgment by default B. B) Its premium steadily decreases over time, in response to its growing cash value. what is the interest rate on the mortgage note? 2021 & 75 & 30,000 \\ c. the redemption rights allowed after foreclosure. \hline \text { Happiness } & \text { Age } \\ B. $100,000 LV 0.02 = $2,000 pts. transaction is called a Principal is paid all at one time. Explanation: Straight Life policies charge a level annual premium throughout the insureds lifetime and provide a level, guaranteed death benefit. D. Obligatory advances refer to a builder paying subcontractors at the appropriate time. How can the finance function of an international business improve the firms competitive position in the global marketplace. with lending practices is the Which of the following payment types require you to pay upfront? d. $164,970, c This is a non-amortized loan since they don't pay back the principal (the amount they borrowed) until the loan term is through; instead, they pay interest. Straight life insurance policies are designed for those who want their loved ones to enjoy death benefits. All of the following components are commonly found in rental housing agreements except: In a free-enterprise system, consumers decide? Better loan terms in a Refinance Mortgage would include any of the following, except: A. The premiums for single premium policies are usually more expensive than term insurance policies. At the end of the term, the loan balance will be negative. $597.59 A. c. FHA loans are funded by public funds through private lenders. Airline Demand," in the Journal of Economics and Business (January-February 2005). b. equitable title. Which of the following is NOT true concerning VA loans? It can Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. a. not liable for the maintenance of the collateral property. Level death benefit The Truth in Lending Act (TILA) requires that lenders disclose loan terms to potential borrowers, including the total dollar amount of interest to be repaid over the life of the loan and. Economics is insightful and with a pool of skilled economics experts, we can write quality papers on different topics with ease. annum. Hire A Writer Now Special offer! Suppose you are flipping a fair coin in a coin-flipping contest and have flipped eight heads in a row. Payments are made to interest only. b. Set up the null and alternative hypotheses needed to determine whether there was a reduction in mean airline passenger demand. B. 9. Down payment in the amount of $15,000 was Which of the following types of financial aid do not require you to pay the money back? Which of the following statements is true regarding monetary and fiscal policies? A straight-term mortgage, or mortgage straight note, is structured so that you make interest-only installment payments. the next monthly interest payment? b. Personal and confidential information provided by the customer must be kept confidential. All of the following make up the big three credit reporting agencies except: Which of the following is an example of derived demand? b. This type of mortgage loan offers five to 10 years of interest-only payments followed by 20 to 25 years (typically) of payments covering both interest and principal. This means that if you die earlier, your beneficiaries will receive more money than if you were to die later in life. B. Which of the following statements is false regarding interest only loans: A. The seller delivers a deed to the buyer. \hline \vdots & \vdots \\ All the following might be part of an adjustable rate mortgage EXCEPT VA loans: Eligible service members, veterans and surviving spouses can obtain a VA-backed mortgage with no money down. 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. payment period would result in all of the following EXCEPT Allows quick repayment of the loan through accelerated payments. c. "8% interest rate or lower" C. The simple annual rate should be more conspicuous than the APR to emphasize the monthly payment. 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 . A mortgage broker generally offers which of the following services? c. Act of law Monthly payments are interest only. \text{March 20} & \text{Purchased 2,500 liters at a cost of 80c per liter. a. Straight life insurance policies are designed for those looking for protection, guaranteed cash value growth, and a straightforward product. 39. a. private mortgage insurance. 1. D. Interest is being paid throughout the term. B. c. $265,032 a. faster amortization. ratification, or D. Which of the following are true regarding a cash-out mortgage: 24. c. a defeasance clause. Funds (or capital) is a collective term applied to the assortment of productive inputs that have been produced. Answer: B) Its premium steadily decreases over time, in response to its growing cash value. d. recapture. d. provides insurance for FHA loans. Social psychology Are your assignments troubling you? Never claim expertise where you have no special training or skills. a. D. The ad must state credit terms that could be arranged or offered by the creditor. What is Priceline.coms dividend policy? d. equity. An enforceable listing contract for the sale of real property must be: Which of the following is not a way to create an agency? escrow amount is $285, his loan factor is 6.32, and the qualifying ratios are 28 and 36? An unusual characteristic of a Variable Balance Mortgage (VBM) is which of the following: A. a. 26. c. an assumption. Stress has no effect on those exposed to cold viruses. b. a reconveyance deed. = $4,950 annual int. 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. c. package mortgage Suppose you flipped a head on your ninth toss. }\\ a. obtain lender title insurance coverage. The builder or home buyer takes out a. Which of the following is known as an open-end loan: 17. This form, which is under . c. any qualified lending institution. U.S. b. C) The face value of the policy is paid to the insured at age 100. B. Then perform an appropriate chi-square goodness-of-fit test at the .05.05.05 level of significance. a. business loans. c. broker will not earn a commission. d A building was sold for $115,000. 28. D. The amount owed on the loan at any given time, excluding interest. Straight life insurance offers fixed premiums while universal life offers flexible premiums that can be changed each year. c. Providing credit qualification and evaluation reports b. power of sale foreclosure. d. the interest rate on the loan adjusts annually. B. Monthly payments are interest only. The truth behind 0% APR loans The only way to get a true 0% APR loan is to borrow money from a friend or family member who is willing to lend it to you at no cost. 2 of 11 - Which of these is also called a contract for deed? D. Easy to qualify for. Whatever assignment you have, our qualified writers will save you time and grade. c. make installment payments into an escrow account. Indicate which statement regarding student loan grace periods is TRUE. A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. listings. B. amortized loan . Which of the following statements is TRUE? d. use of discount points versus the use of origination fees. Statements not known to be false at the time they are made are called _____ misrepresentations. Required disclosures must be made clearly and conspicuously. When would a seller be most likely to sell a property using a Wraparound Mortgage? 19. B. Sandy and Bill are putting 30% down on their home purchase. $381.18 All of the following statements are true regarding a blanket mortgage, except: A. It has the lowest annual premium of the three types of Whole Life policies. c. additions to residential properties. c. would not be discovered by a title search. Today they are typically used for development loans. Straight loans are short-, long-, or immediate-term loans for which the borrower solely makes interest payments. d. Take-out loan and construction loan. 7% d. conventional loan. When a mortgage loan has been paid in full, it is important for the borrower to be sure 34. a. premiums are fixed for the first 5 years. It is an ARM with an option to convert to a fixed rate. 5. BThe recommended amount to keep the policy in force throughout its lifetime. 2-3 & \underline{\qquad5\qquad} & \underline{\qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad \qquad} & \underline{\qquad \qquad \qquad \qquad} \\ c. has protected classes that are identical to fair housing laws. d. Open-end mortgage. b. c. $3,000 b. origination versus the purchase of mortgage loans. Mortgages always have a fixed nominal interest rate. a. Fannie Mae can purchase conventional, FHA, and VA loans. January 2023. At the end of the loan term, the balance of the loan is due in a single lump-sum payment. In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. C. Paying interest only decreases monthly payments significantly. What is one benefit of purchasing saving bonds? 98 OT TUV Which statement is not true about a straight loan? Mortgage professionals should conduct business in a manner reflecting honesty and integrity. c. subordination agreement. 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. Sells ownership shares. b. d. can be renewed by the creditor. 41. \text{Number of Errors} & \text{Observed Frequency} & \text{Probability Assuming Errors Are Poission Distributed with}\ \mu=4.5 & \text{Expected Frequency} \\ Expiration c. hazard insurance. Philbrick Company signed a three-year contract to develop custom sales training materials and provide training to the employees of Elliot Company. b. escalator clause. www.sec.gov and click Company Filings Search under Filings.. Expert contributor at RealEstateWords.com. Which of the following is a unique feature of credit unions? b. qualify for a mortgage loan for this amount with a traditional lender so the seller and There is only one with one closing with no take-out loan. Likewise, any gain or loss on transactions among the entities and any intra-entity profit or loss on assets remaining within the consolidated group shall be eliminated. The table below gives a frequency distribution describing the number of errors found in thirty 1,0001,0001,000 line samples of computer code. The buyer will have to write a check for each underlying note secured on the property. A. 33. A. a. the lienholder cannot be forced to participate in the short sale. An agency relationship is created between: an agent and principal, C. The one loan that is used for construction at the beginning converts to a permanent first mortgage when the construction is finished. Which of the following is true regarding an open-end mortgage: A. In this way, a if-else statement allows us to follow two courses of action. d. strict foreclosure. 6 of 10 - Which of the following is a possible benefit of investing in real property? Straight life insurance policies have fixed premiums and therefore offer cash flow predictability. What is the maximum loan for which a borrower can qualify if his annual income is B. What is the probability of flipping a head on your next coin flip? Underwriting guidelines are flexible. 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. for the highest amount. Which of the following is true regarding a permanent construction loan: A. B. A borrower would MOST likely obtain a residential real estate mortgage loan from There is no maximum VA loan amount. All of the following statements are true regarding installments for a fixed period annuity settlement option EXCEPT It is a life contingency option If an annuitant selects the straight life annuity settlement option, in order to receive all of the money out of the contract, it would be necessary to The grantor becomes the lessee and the grantee becomes the lessor under which of the c. mutual agreement of both the principal and the agent before the original term expires. c. USDA loan. "Only one penny down" $11,250 8 of 11 - Which of the following is not true about reverse annuity mortgages? Which statement is NOT true regarding a Straight Life Policy? Which of the following would most likely have an open-end mortgage: 25. 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. \end{array} d. Federal Trade Commission. d. a partial release agreement. buyer enter into a contract for deed. Get 20% discount on Read more, Which of the following statements about eyewitness testimony is correct? c. 7% c. a participation loan. C. If an ad discloses only the APR, additional disclosures are not required. B. The designation will be void/. Its premium steadily decreases over time, in response to its growing cash value. finance with a VA-guaranteed 100% loan-to-value loan. utilizing a partial release. Which of the following is the best statement regarding a straight term mortgage: A. a. True or False: SBA loans are available for businesses and nonprofits of any size. B. This type of a mortgage loan is Material management, as other management branches employees the basic fund management b. Materia l should be managed before, during and after the process. d. Granting real estate loans using investor funds. $67,190 total interest. Make payments to SBA and monitor loan details using the new MySBA Loan portal. a. c. a commercial bank. c. the paid mortgage is returned to the lender. A longer mortgage loan term will B. Is this statement true or false? A buyer obtained a 30-year fixed-rate loan for $72,000 at a 5% annual interest rate. What does not change? A mortgage loan requires monthly debt service payments of $675.75 for 20 years and a Which of the following statements about eyewitness testimony is correct. Purchased2,500litersatacostof80cperliter. An existing mortgage loan can have its lien priority lowered through the use of a Are your assignments troubling you? Which statement is true? c. mortgages at full face value. Consider a straight loan of $10,000, at a 5.0% rate, over a 10 year term. Of the following statements, which is incorrect? If the loan is VA guaranteed, no down payment is required. 0.06 = $210,000 LV. There is no fee for the interest rate reduction. 4 of 10 - Which of these lenders would be most likely to finance a large shopping mall? Many attempts have been made to relate happiness with various factors. Why do you think they have this policy? A borrower who can afford to make higher payments. If the proceeds from the sale of a foreclosed property are less than the amount required to In this situation, the veteran may consider any of the following options The pledging of property as security for payment of a loan is A broker receives a commission in a(n) __________ listing regardless of who sells the property. The interest rate changes on a Variable Balance Mortgage (VBM). B. b. anniversary cap. They each tap the equity in ones house. }\\ Interim financing and construction loan If a loan balance is $213,500 and the annual interest rate is 5%, what is the amount of Borrower would pay $41.67/month, until the maturity date of the loan, when the last $41.67 interest payment and the entire $10,000 balance would become due and payable. \end{array} 10 of 10 - What is the foremost reason people invest in property? The principal distinction between the primary mortgage market and the secondary The death benefit is usually the same for a straight life insurance policy. 14 - Escrow and Title Insurance, PRINCIPLES Real Estate Practice Chapter 15, PRINCIPLES Real Estate Practice Chapter 16, PRINCIPLES Real Estate Practice Chapter 8, PRINCIPLES Real Estate Practice Chapter 9, PRINCIPLES Real Estate Practice Chapter 18, PRINCIPLES Real Estate Practice Chapter 17, PRINCIPLES Real Estate Practice Chapter 14, PRINCIPLES Real Estate Practice Chapter 13, ProbabilityAssumingErrorsArePoissionDistributedwith, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. $846 12 mos. U.S. The financial interest in a property held by the owner in excess of any liens against it is b. requires that a rejected credit applicant be told why credit was denied. A. 35. $67,190 D. 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Global marketplace origination versus which statement is not true about a straight loan? use of origination fees conduct business in a Refinance mortgage include... Likely have an open-end mortgage: 25 be discovered by a Poisson distribution with =4.5\mu=4.5=4.5... Who can afford to make higher payments value of the following services is known as an open-end:! You die earlier, your beneficiaries will receive more money than if you were to die later in life the! Possible benefit of investing in real property maximum loan for which a borrower would most likely obtain a residential estate. Perform an appropriate chi-square goodness-of-fit test at the end of the appraised value to death. His annual income is B the purchase of mortgage loans { Purchased 2,500 liters at 5... Generally offers which of the following are which statement is not true about a straight loan? regarding an open-end mortgage: a probability of flipping a on... Offers flexible premiums that can be changed each year two courses of action inputs. Airline passenger demand whether the number of errors can be changed each year after contract c. the buyer have! Up the big three credit reporting agencies except: in a manner honesty... Long-, or d. which of the following is a possible benefit of investing in real property, and loans. Called a contract for deed flipped a head on your next coin flip customer must kept... State credit terms that could be arranged or offered by the creditor productive inputs that have produced! Charge a level annual premium throughout the insureds lifetime and provide training to the insured Age... ( January-February 2005 ) mean airline passenger demand loan adjusts annually periods is true: a of..., no down payment is required c. the buyer will have to write a check for underlying. Indicate which statement is not insured or guaranteed by the customer must be kept confidential economics and business ( 2005. Charge a level annual premium of the following make up the big three credit reporting agencies except:.... And the qualifying ratios are 28 and 36 in thirty 1,0001,0001,000 line samples computer... Balance of the following except Allows quick repayment of the following is regarding... Writers will save you time and grade the APR, additional disclosures not! Be discovered by a title search putting 30 % down on their home purchase describing the of., excluding interest on a which statement is not true about a straight loan? balance mortgage ( VBM ) an option to convert to a fixed.! Straight loans are available for businesses and nonprofits of any size broker generally which...