Depository - Study guides, Class notes & Summaries

money Ans- medium of exchange, which means thaht it is generally accepted in exchange for goods and services. acceptable as means of payment / IS NOT made up of notes and coins held by individuals and businesses a problem with using a commodity as money is Ans- commodity value can change over time main components of money in canada Ans- currency and deposits at banks and other depository institutions official measures of money are Ans- M1 and M2 m1 Ans- currency outside banks perso...

Depository Institution - ANSWERAny bank or savings association covered by the Federal Deposit Insurance Act. Bank--someone who has credit cards Immediate Family Member - ANSWERThis includes parent, child, spouse, sibling, grandparent, grandchild, adoptive relationships, stepchild and stepparent. No aunts, uncles and cousins. Mortgage Loan Originator - ANSWERAn individual who helps a consumer obtain or apply for a residential mortgage loan. By definition, the mortgage loan originator expect...

Champions Real Estate Finance graded A+ already passed 2023Loan-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 ...

f a borrower is required to pay alimony or child support, it must be included as a(n): - Asset - Liability - Qualifier - Mitigating circumstance - Answer-Liability. Alimony and child support must be included in a borrower's liabilities if they are required to pay. A lender who refuses to originate loans in a particular neighborhood or ZIP code because of the perceived creditworthiness of consumers living in the area is in violation of: - FCRA - ECOA - HOEPA - RESPA - Answer-ECOA. Re...

SIE exam caril: complete study guide Q-bank answered latest spring 2023. What type of risk is unique to a specific industry, business enterprise, or investment type? - Under which of the following circumstances is an investor in a position to acquire stock? - Options- a premium - Options- strike price A customer believes that ABC's price will go up but does not have the money to buy 100 shares right now. How could the customer use options to profit from an increase in the sto...

GEB1011 Test 2 Questions with All Correct Answers What is a convertible security? - Answer- Issuing bonds or preferred stock that contains a conversion feature What is the primary market? - Answer- Financial market in which firms and governments issue securities and sell them initially to the general public What is an initial public offering (IPO)? - Answer- When a company offers stock for sale to the general public for the 1st time What is a secondary market? - Answer- Collection o...

Texas All Lines Adjuster License Study Guide Exam Questions & Answers 2024 Staff Adjuster - ANSWERSAdjusters who work exclusively for an insurance company Independent adjuster - ANSWERSAn individual who is employed as an independent contractor to an adjusting / staffing company and handles claims for an insurance company Public adjuster - ANSWERSAdjusters that represent the insured by negotiating claims with the insurance company. Insurer - ANSWERSAny insurance company or self-insu...

A company or individual that has been authorized by the Receiver to initiate either a credit or debit ACH entry to their account. - correct answer Originator A financial institution that receives payment instructions from Originators and forwards the entries to the ACH Operator. - correct answer Originating Depository Financial Institution (ODFI) ACH Payment Transaction are accumulated throughout the day, sent to the ACH Operator, sorted by destination, and transmitted in groups at speci...

WGU D076 Quiz Bank (Latest 2024/ 2025 Update) Finance Skills for Managers| Questions and Verified Answers| 100% Correct| Grade A Q: Hannah is the financial manager of a firm. A project that she has recommended has been approved and will cost $5 million. Since the company does not have enough cash on reserve, Hannah must figure out how to raise enough money to start the project. She can choose whether to issue new bonds, new stocks, a mortgage loan, or some combination of those options. What...

SAFE Act/ Uniform State Test (UST) Latest Update Graded A+ SAFE Act purpose is to create uniform regulation of mortgage loan originators in every state Secure and Fair Enforcement for Mortgage Licensing Act of 2008 SAFE Act Regulation H for state licensed Regulation G for Federal Depository Institutions Before the crash of 2007, there was very little regulation of... Loan Originators HERA was created... The Housing and Economic Recovery Act was created to regulate those who ori...