Reg business law - Study guides, Class notes & Summaries

Which of the following specify the requirements for reserves that a depository institution must maintain at a federal reserve bank? - correct answer Reg D Which of the following specifically addresses national banks and their need to evaluate a large dollar payment system network risks and requires reporting this to top management and maintaining agreements with all parties that they do business with? - correct answer OCC Banking Circular 235 Which of the following payment systems is r...

NMLS TEST-Affinity Questions and Answers, Graded A+ What law deals with credit, APR & Advertising of consumer loans? TILA Which regulation prohibits kickbacks? RESPA Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? RESPA Regulation X i...

Champions School of Real Estate - Real Estate Finance Exam || Questions & Answers (100% Verified) Champions School of Real Estate - Real Estate Finance Exam || Questions & Answers (100% Verified) A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - ANSWER - Non-Conforming Loan VA - ANSWER - Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - ANSWER - Cash price minus the loan balance A clause of...

Champions School Of Real Estate ( Real Estate Finance) 2024 Tested A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - CORRECT ANSWER-Non-Conforming Loan VA - CORRECT ANSWER-Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - CORRECT ANSWER-Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required ...

Define Bilateral contract - correct answer A bilateral contract is a promise in exchange for a promise creating a contract. Define executory contract - correct answer An executory contract is one not fully performed. What are four requirements for a *valid contract*? - correct answer offer and acceptance, consideration (computer for $400), nothing to indicate either party...

Gold Coast Chapter 2 questions n answers 2024/2025 Caveat Emptor - correct answer Let the Buyer Beware (on property defects - before statutory law) Florida Real Estate License Law - correct answer F.S. 475 FREC - correct answer The Florida Real Estate Commission "The Commission" DBPR - correct answer The Department of Business and Professional Regulation (DBPR) DRE - correct answer The Division of Real Estate "The Division" License - correct answer Refers to any permit,...

Payroll Concept Workers Status - Form SS8 is the IRS determination of EE or IC status. Reasonal Basis Test aka Safe Harbor Rules Sec 530-Alls ee to be treated like a IC for specific reasons such as a court order, IRS audit results, Attorney or CPA advisement, or long standing industry standard for that job role. Common Law Test- see chart for example EE is required to comply with ER instructions about when where and how to work. IC sets own hours determines own sequence of work. Form W9 req...

NMLS Test Outline Questions and Answers Already Passed RESPA disclosures? due dates? 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Statement (sen...

AARMR stands for - American Association of Residential Mortgage Regulations AML - Anti-Money Laundering Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling them that a certain people of a certain race, national origin or religion are moving into the area, and thus profiting by reselling at a higher price CC&R - covenants, conditions, and restrictions CFPB - The Consumer Financial Protective Bureau - an independent federal agency that holds pr...

Ethics & Responsibilities/Business Law for REG CPA Exam Q&A 100% Pass Attorneys, Agents, and Enrolled Agents - those who can practice before the IRS Preparing and filing documents, corresponding with the IRS, rendering written tax advice, or representing client at hearings - what constitutes practice before the IRS Form 2848 - power of attorney form to allow an individual to represent a taxpayer before the IRS Subpart A of Circular 230 - addresses authority to practice before the IRS ...