Recourse debt Study guides, Class notes & Summaries
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CPWA Exam Questions And Answers 2024
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IRS forms - correct answer-1040 Individuals 
1065 partnerships 
Schedule A itemized deductions 
Schedule K-1 partnership distributions 
 
AGI - correct answer-Wages, salaries 
+ ordinary dividends 
+ rental real estate income= total income 
- Qualified plan/IRA contribution= AGI 
 
AGI Self Employed - correct answer-LLC Income + other income = total income 
-(SUBTRACT) HSA, half self-employment tax paid, SEP contribution, self-employed health insurance deduction = AGI 
 
Above the line deductio...
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NATIONAL REAL ESTATE EXAM PRACTICE TEST 100% SOLVED 2024
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NATIONAL REAL ESTATE EXAM PRACTICE 
TEST 100% SOLVED 2024 
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...
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NATIONAL REAL ESTATE EXAM 2023 WITH 100% CORRECT ANSWERS
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In most cases, broker compensation, as a percentage of home price, falls somewhere between: - correct 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? - correct 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? - correct answer -The tenant re...
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HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS
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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...
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HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS
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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...
Too much month left at the end of the money?
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ACG 3131 Exam 3 Questions and Correct Answers
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When buying receivables without recourse the purchaser assumes the risk of collectibility and absorbs any credit loss. 
In the gross method, sales discounts are reported as a deduction from sales 
For receivables sold with recourse the seller guarantees payment to the purchaser if they debtor fails to pay. 
The net amount reported for short-term receivables is not affected when a specific account receivable is determined to be uncollectible. 
bank balance vs cash account bank balance- deposits i...
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CPA Exam – FAR. Top Exam Questions and answers. VERIFIED.
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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 ...
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CLFP Terms 4 Questions and Answers Latest Update 2024-2025 | Graded A+.
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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...
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Principles of Real Estate Exam 3 Questions With Correct Answers
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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 ...
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HECM Exam questions and correct answers
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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...
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