Mortgage broker canada - Study guides, Class notes & Summaries

Real Estate Marketing: Commercial Real Estate (SAE), Champions Commercial Real Estate- SAE General Lien (also Statatory) - CORRECT ANSWER attaches to all the property of the debtor, not exempt from forced sale (Example: a judgment or IRS lien) Diplomacy - CORRECT ANSWER the ability to handle clients and situations in a sensitive and effective way - is critical in commercial real estate, and a lack of it can expose you immediately as a beginner. DTPA - CORRECT ANSWER The Deceptive Trade ...

The purposes of RECA according to the Act is the following... - Answer- 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - Answer- 1: Rules are a set of instructions to be followed by all industry pro...

TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) An asset's liquidity is determined by how readily the asset can be converted to an appropriate amount of cash. Answer: True False 2) The principal reason for excluding many intangible assets from the balance sheet is that they are difficult to value. Answer: True False 3) Based on generally accepted accounting principles, assets are recorded on the balance at their current market value. Answer: Tr...

The purposes of RECA according to the Act is the following... - ANSWER 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - ANSWER 1: Rules are a set of instructions to be followed by all industry profe...

Fiduciary Representation - Answer- - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - Answer- 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - Answer- - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and provide proof of undertan...

Define in pure insurance terms "risk." - Answer- The chance of financial loss to which an object of insurance is exposed. List the three categories of risk generally faced by people. - Answer- Personal - loss of health/life Property - objects Liability - negligent actions result in injury/damage State 4 possible options people can chose to deal with risk and give a brief explanation and example of each. - Answer- Avoidance - all chance of financial loss has been eliminated Controlling...

Ethic Mock Exam 5 Questions and Answers 2023 Tony delivers an individual policy to his client, Ron. The policy was issued by the insurer five days ago. Ron signs the acceptance forms but is having second thoughts about the policy. How many days does Ron have to take a "free look" at the policy? a) 10 days from policy issue date b) 15 days from policy issue date c) 15 days from application date d) 10 days from the policy delivery date (correct) 10 days from the policy deliv...

TEST BANK for Macroeconomics in Modules, 3rd Edition by Paul Krugman, Robin Wells. All Chapters (Complete download). 1248 Pages Test Bank for Macroeconomics in Modules, 3e Paul Krugman, Robin Wells (All Chapters) Chapter 1 1. Scarcity in economics means: *a. we do not have sufficient resources to produce all the goods and services we want. b. the wants of people are limited. c. there must be poor people in rich countries. d. shortages exist in nearly all markets. 2. If resources ar...

Chattels - ANSWER moveable items or personal property consumer price index - ANSWER an economic indicator that measures the change in consumer prices,experienced by canadians Industry Member - ANSWER someone authorized by RECA to trade in real estate,deal in mortgages or provide real estate appraisal services in accordance with the real estate act. industry professional - ANSWER someone authorized by RECA to trade in real estate,deal in mortgages or provide real estate appraisal service...