Finance charges - Study guides, Class notes & Summaries

Under RESPA, the servicer may require a borrower to pay into an escrow account to cover disbursements that are unanticipated or disbursements made before the borrower's monthly payments are available in the account, a cushion or reserve that must be no greater than _____ of the estimated total annual disbursements from the escrow account. - One half - One third - One sixth - One twelfth - One sixth. Under RESPA, a lender may require the borrower to establish an escrow account at closing...

Test Bank for Fiscal Administration,11e 11th Edition by John Mikesell. Complete chapters (Chap 1 to 15) are included with answers. Complete Guide and Latest Edition 1. Fundamental Principles of Public Finance. 2. The Logic of the Budget Process. 3. Budget Methods and Practices. 4. Federal Budget Structures and Institutions. 5. State and Local Budgets. 6. Budget System Reforms: Trying to Make Better Choices. 7. Capital Budgeting, Time Value of Money, and Cost-Benefit Analysis: Process, S...

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 ...

FINANCE CHARGES 2024 QUESTIONS WITH COMPLETE ANSWERS ALREADY PASSED

OLERE Questions and Answers Graded A+ What is the primary purpose of the Oklahoma Ethics Commission? The primary purpose of the Oklahoma Ethics Commission is to oversee and enforce laws regarding campaign finance, lobbying, and public officials' conduct to promote transparency and integrity in government. What is considered a conflict of interest under Oklahoma law? A conflict of interest occurs when a public official's personal interests or relationships interfere with the...

Champions Real Estate Finance Exam Review (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: Monetary inflation When there is an excess of money supply in the market. Q: Demand Pull Inflation Answer: created when there is more money in the market & less goods for sale. Q: cost-plus inflation Answer: when the cost of production & offering services increase thereby causing manufacturers and trades people/vendors to raise their prices ac...

Champions Real Estate Finance Study Guide (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: Supply and Demand an economic concept that states that the price of a good rises and falls depending on how many people want it and depending on how much of the good is available. Q: Funding Answer: The process of transferring funds to a title or escrow company for disbursement Q: The Safe Act Answer: Designed to enhance consumer protection ...

CUCE - Consumer lending regulations UPDATED Actual Exam Questions and CORRECT Answers If you discover an unintentional error in complying with reg Z requirements, what corrective action must you take? - CORRECT ANSWER- You must: notify the affected member, and make appropriate adjustments within 60 days after discovering the error and before any legal action has begun or any member gives written notice of the error. Reg Z defines "finance charge" as the cost of consumer credit in a ...

Payments for qualified mortgages must be based on - Answer the maximum interest rate that will apply during the first five years after the date of the first payment. Which of the following fees is not included in the calculation of the finance charge for a mortgage? - Answer fees charged by an unaffiliated appraiser. Finance charges always include fees charged by the creditor, charges by an affiliate of the creditor, and fees charged by a third-party provider required by the creditor. Fees ...

Superior School of Real Estate Exam| Questions and Verified Answers| 100% Correct| Grade A (Latest 2024/ 2025 Update) Q: Which of the following scenarios best illustrates first substantial contact? Answer: Seller states that she must relocate by the end of the year. Q: Liens, restrictive covenants, easements, and encroachments are all examples of... Answer: Encumbrances. Q: A detached workshop extends over the property line onto the neighboring lot by six inches. T...