Refunded back - Study guides, Class notes & Summaries

Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? - policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? - policy was returned with the "free look" period, premium will be fully refunded Which of the...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...

Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? - policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? - policy was returned with the "free look" period, premium will be fully refunded Which of the...

2024 Newest| HECM Exam| UPDATE|COMPREHENSIVE FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED ANSWERS|GET IT 100% ACCURATE A reverse mortgage is... - ANSWER-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 - ANSWER-You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWER-When the last eligible borrower die...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

Texas Promulgated Contract Forms & Addenda Final Exams Verified 100% Correct! Which of the following is an example of a Bilateral contract? - answerA Promise in exchange for a promise - Purchase Contract. Unilateral Contracts - Listing Agreement, Buyer's Rep, Option Contract Who is responsible for filling in the effective date, who, when & what? - answerBroker. Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parti...

1.An escrow closed on May 16, 2002. Property taxes for the fiscal year 2002-03 are: (A) Seller's personal responsibility; (B) Buyer's personal responsibility; (C) A lien on the property; (D) None of the above c 2.On June 10, a prospective buyer gave broker and signed the usual form of an offer to deposit to a purchase property. The deposit form included the statement, This offer is irrevocable for five days. On June 11, and before the offer had been accepted by the seller, the buyer contac...

A broker is aware that the public road in front of her listing is scheduled to be widened to a four-lane divided highway next year. The listing agent must volunteer the information to all prospective buyers The illegal and discriminatory practice of soliciting listings by making statements intended to cause alarm in current property owners about the entry or possible entry of minority residents into the neighbor is called blockbusting. According to the North Carolina Real Estate Commission's Re...

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...

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...