Prequalification Study guides, Class notes & Summaries

Lansing Construction Company completed major jobs including road grading, bridges, and base and paving work. Which one of the following types of contractors is Lansing? · Heavy and highway construction · General Engineering contractor · General Building contractor · Design/build contractor - Heavy and highway construction The project owner for a new shopping plaza being built in Highville is the Highville Municipal Property Company. The role of the project owner at the beginning of an...

AFSB 151 Final Exam A surety bond is a written document in which one party guarantees a second party's - Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? - Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bond production? - A power of attorney Wh...

SAFE Mortgage Loan Originator Test Latest Update Graded A+ Prequalification an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lenders standards USDA ratio 29/41 FHA ratio 31/43 Asset based loan -loans based on borrowers equity -bad when lenders fail to consider ability to repay High Cost Loan Reg Z - Sec. 1026.32 -APR will exceed by more than 6.5% for first lien loans or by more than 8.5% for subordinate -APOR - average prime ...

Prequalification correct answers an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lenders standards USDA ratio correct answers 29/41 FHA ratio correct answers 31/43 Asset based loan correct answers -loans based on borrowers equity -bad when lenders fail to consider ability to repay High Cost Loan correct answers Reg Z - Sec. 1026.32 -APR will exceed by more than 6.5% for first lien loans or by more than 8.5% for subordinate -APOR - ...

When working as the client's agent and a change order for additional electrical receptacles is issued, who is responsible for approval? -The designer and the contractor -The designer and the owner -The electrical consultant and the contractor -The owner and the subcontractor - Answer- -The designer and the owner To promote effective project decision-making at weekly job meetings, who should attend the meetings? -Senior management of the client company, construction project manager, desi...

AFSB 151 Final Exam Questions & Answers 100% CorrectAFSB 151 Final Exam Questions & Answers 100% CorrectAFSB 151 Final Exam Questions & Answers 100% CorrectAFSB 151 Final Exam Questions & Answers 100% Correct A surety bond is a written document in which one party guarantees a second party's - ANSWERPerformance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the...

When one uses more than 20% of one's take-home income to pay off consumer debt, it is one of the signs that one may be headed towards serious credit problems: T/F - correct answer -True A credit report is routinely used to predict creditworthiness: T/F - correct answer -True Which of the following is an improper use of credit? A. Buying a home B. Purchasing a big ticket item C. Meeting a financial emergency D. Buying consumable goods - correct answer -D. Buying consumable goods Y...

AFSB 151 Final Exam Questions and Answers A surety bond is a written document in which one party guarantees a second party's - Answer-Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? -Answer-Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bond production...

A surety bond is a written document in which one party guarantees a second party's - correct answer Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? - correct answer Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bond production? - correct answer A powe...

Colibri Real Estate. Ch. 14-23 Questions and Answers 2024 Ch. 14: Financing Practice (p. 177) Prequalification informal process of determining how much a potential homebuyer might be eligible to borrow doesn't guarantee approval, not binding on lender Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:08 / 0:15 Full screen Brainpower Read More Preapproval lender determines if potential borrowers can be financed through lender & for what amoun...