Federal reserve board - Study guides, Class notes & Summaries

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

Which of the following is usually the most significant source of bank income? - Answer- Lending Function Which of the following loans is normally unsecured? - Answer- Credit Card At what stage in the lending process do banks obtain and evaluate all available information to determine creditworthiness? - Answer- Investigation Discrimination against prospective borrowers because of where they live is know as: - Answer- Redlining A loan that is not guaranteed by any type of collateral is...

What is the purpose of Reg CC - To implement to Expedited Funds Availability Act and the Check 21 What did Check 21 Act do - Faciliate check truncation by authorizing substitue checks, Foster innovation in the check collection system without madating receipt of checks in electronic form, Improve the overall efficiency of the Nations Payments system. What is the purpose of the FFIEC? - Prescribe uniform principles, standards, and report forms for the federal examination of financial instit...

Timeshare License Exam 150+ QUESTIONS AND CORRECT ANSWERS 2023 LATEST UPDATE. 1. How long is a TSA license valid for?: 2 years 2. If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license expire?: June 30, 2002 (end of the month - 2 years later) 3. If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will the license expire?: June 30, 2010 (end of the month - 1 year later) 4. An applicant for an original timeshare license MUST prov...

Federal Reserve Board - ANSWERFounded on December 23rd 1913, to oversee financial panics. Independent of direct political influence. Federal Reserve Act was passed to stabilize prices, maximize employment, moderate long term interest. FINRA vs MSRB - ANSWERFINRA oversees brokerage firms and their associated persons. MSRB- regulates the municipal securities market including dealers, municipal advisers, and issuers. Municipal Securities Rulemaking Board Structure of the Fed - ANSWERThe Board...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

Timeshare License Exam Questions and Answers Already Graded A How long is a TSA license valid for? 2 years If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license expire? June 30, 2002 (end of the month - 2 years later) If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will the license expire? June 30, 2010 (end of the month - 1 year later) An applicant for an original timeshare license MUST provide: An application, certific...

Federal Reserve Board : Founded on December 23rd 1913, to oversee financial panics. Independent of direct political influence. Federal Reserve Act was passed to stabilize prices, maximize employment, moderate long term interest. FINRA vs MSRB : FINRA oversees brokerage firms and their associated persons. MSRB- regulates the municipal securities market including dealers, municipal advisers, and issuers. Municipal Securities Rulemaking Board Structure of the Fed : The Board of Gover...

To loosen credit, the Federal Reserve Board might take all of the following actions EXCEPT correct answers reducing taxes Which of the following is TRUE regarding the preliminary proxy statements? correct answers Preliminary merger proxy statements are always required to be filed with the SEC but preliminary proxy statements are not All of the following are true regarding the audit committee of a public company EXCEPT correct answers An individual who is not on the company's board could b...