Non recourse debt Study guides, Class notes & Summaries

HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS HOME EQUITY - Answer- HOME VALUE MINUS LIENS ON THE HOME PURPOSE OF A REVERSE MORTGAGE - Answer- GENERATE CASH FORWARD MORTGAGE PURPOSE - Answer- THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME FORWARD MORTGAGE - Answer- BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER REVERSE MORTGAGE - Answer- RISING DEBT FALLING EQUITY TRANSACTIONS HECM BASIC FEATURES - Answer- THE BORROWE...

CLFP Terms 4 Questions and Answers Latest Update | Graded A+. What information is reported on the income statement? correct answerIts a presentation of revenues and expenses for a specific time period (month, quarter, year). What information is reported on the statement of cash flows? correct answerIt shows cash receipts and payments during a specific period and includes non-cash expenses like depreciation and amortization. Equation for cash flow correct answer[net income + non-cash expense...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

Mortgage Debt - Answer A loan secured by a lien on real property Why mortgages are the best debt - Answer Secured by the place where the borrower lives, so more secure (lower interest rates due to lower default risk), longer loan terms, all of which leads to lower payments. Also, tax favored (deductible interest, lower effective interest rate) Promissory Note - Answer Promise to repay (the legal obligation), terms of repayment (interest, frequency, duration), negotiable instrument (holder ...

CPA Exam – FAR. Top Exam Questions and answers. VERIFIED. Cash - -Money that is FREE and CLEAR and available to be spend in current operations. Not Cash: - -Security deposits & bond sinking funds Three-Month Rule - -Highly liquid securities with ORIGINAL maturity dates of three months or less are treated as cash. Bad Debts - Direct Write-Off Method - -- No entry for bad debts until customer actually defaults. - At default, the cutomer's account is written off. - Theoretically ...

NATIONAL FINANCE EXAM PREP | questions and answers 2023/24 Advantages of Real Estate Investment: (3 things) - Above average rate of return Tax benefits Land can never be depreciated. Disadvantages of Real Estate Investment: (3 things) - Not highly liquid The purchaser of investment property must be prepared to "invest" for the long haul Market conditions are changing all the time. What is the total amount of money remaining after all expenditures have been paid including taxes, oper...

NATIONAL REAL ESTATE EXAM In most cases, broker compensation, as a percentage of home price, falls somewhere between: - ANSWER 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - ANSWER Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? - ANSWER The tenant re...

In most cases, broker compensation, as a percentage of home price, falls somewhere between: - 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? - The tenant removes their trade fixtures and takes them upon m...

HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS HOME EQUITY - Answer- HOME VALUE MINUS LIENS ON THE HOME PURPOSE OF A REVERSE MORTGAGE - Answer- GENERATE CASH FORWARD MORTGAGE PURPOSE - Answer- THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME FORWARD MORTGAGE - Answer- BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER REVERSE MORTGAGE - Answer- RISING DEBT FALLING EQUITY TRANSACTIONS HECM BASIC FEATURES - Answer- THE BORROWE...

WFG Certification Exam - Questions and Answers (Complete Solutions) An insurer enters into a contract with a third party to insure itself against losses from insurance policies it issues. What is this agreement called? Reinsurance An insurer owned by its policyholders is called a Mutual insurer AAA insurance company has transferred a portion of its loss exposure to BBB insurance company. In this reinsurance transaction, what is AAA insurance called Primary insurers Which of the following contr...