Loan receipt - Study guides, Class notes & Summaries

Bookkeeping Final Exam review with Complete Solutions What is the purpose of maintaining a fixed asset register? A fixed asset register tracks details about a company's long-term assets, including their purchase price, depreciation, and current value, helping manage and account for these assets effectively. How should a company record the receipt of a loan? When a company receives a loan, it debits the cash account to increase its balance and credits the loans payable account to...

PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM ALREADY PASSED Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter a...

SC Life Insurance Exam Questions and Answers 100% Pass If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? The balance of the loan will be taken out of the death benefit An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Inspection Report The clause that protects the proceeds of a life insurance policy from creditors after the death of the ...

Afsb 151 Basics Test Questions And Answers 100% Solved statutory bonds ️️a bond required by regulation or ordinance statutes of frauds ️️law originating in English Parliament requiring that, to be enforceable, certain contracts must be in writing and signed. Surety's promise to an obligee derives from statutes of frauds power of attorney ️️agreement authorizing one person to act as another's agent or attorney surety and insurance commonalities ️️assumption of risk, re...

1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - ANSWER-The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT - ANSWER-EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 3 All of the following are to be specified in an insurance policy EXCEPT - ANSWER-EXCEPT the financial rating of the insured...

Escrow Sample Test Questions and Answers Rated A An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...

Copyright © 2022 WILEY Kieso, Intermediate Accounting, 18/e, Solutions Manual (For Instructor Use Only) 5-1-1 Complete Solution Manual and Instructor Resource for Intermediate Accounting, 18th Edition 18th Edition, by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield. ISBN- Chapter 1 Financial Accounting and Accounting Standards Assignment Classification Table (By Topic) Topics Questions Brief Exercises Exercises Critical Thinking 1. Environment of accounting, principles, ...

"Integration" is - depositing cahs and then using that cahs to purchase real estate folowed by using that real estate as collateral on a loan which is paid back with large cash payments "Placement" is - the process of introducing unlawful proceeds into the financial system a 100k loan has a 7.5% payment cap and a current monthly payment of 1k At the next adjustment payment could not be increased more than - 1075% bc the 7.5% cap is on the payment not the mortgage a 2/1 buydown - reduce...

An Appraisal made by a Certified appraiser is REQUIRED? - WHEN THE BUYER IS USING A FHA LOAN TO PURCHASE Greatest advantage of using FHA financing when buyer plans to occupy? - THE REQUIRED DOWN PAYMENT MAY BE LOWER THAN CONVENTIONAL LOANS What should buyer put in purchase offer to make sure they would NOT have to purchase, if they CANNOT obtain financing? - Contingency Conditions does NOT create stigmatized property that may or may not be disclosed under the law of some state? - THE OWNER OF...

Name Clas Dat : s: e: CHAPTER 01—THE BUSINESS OF BANKING 1. A bank is a not-for-profit organization. a. b. True False False 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 ANSWER: POINTS: LEARNING OBJECTIVES: 2. All federally chartered banks must be corporations. a. True ANSWER: POINTS: LEARNING OBJECTIVES: b. False True 1 BNKG.CFFT.3.LO: 1.1.1 - LO: 1.1.1 3. Commercial banks offer their services only to businesses. ANSWER: POINTS: LEARNING OBJECTIVES: 5. Issuing credit cards is ...