Va business exam 2024 - Study guides, Class notes & Summaries

NMLS Texas Exam | Questions and Correct Solutions Latest Update | 2024/2025 | Graded A+ Front End Ratio Formula (Mortgage to income/Housing expense ratio) - Answer - Monthly PITI/ gross monthly income Federal Housing Finance Authority - Answer - Ensures GSEs have adequate practices and capital to engage in mortgage business. LTV Formula - Answer - Loan amount/value of property LTV % required to avoid PMI - Answer - Less than 80% A VA loan called IRRRL stands for - Answer - Interest rate...

NATIONAL REAL ESTATE EXAM QUESTIONS AND ANSWERS| 100% CORRECT 2024 Escrow and trust account must be ______ - answerseparate from checking account Written disclosure is required who the licensee represents in a brokerage relationship - when? - answerupon first substantive discussions about properties/specific properties or preforming any real estate services for client Print advertising - answerMust disclose licensee name and firm name For sale and lease signs - answermust have firm name ...

A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? - ANSWER-4. Activate with a VA licensed broker. The purpose of the VA real estate license law and Board related rules and regulations is to... - ANSWER-Protect the public interest Two brokers are involved in a dispute over a commission split. Which of the following could become involved in the settlement dispute? - ANSWER-A court having jurisdiction over the brokers. If the Board...

45 Hour Post License Florida Exam Questions and Answers Latest 2024/2025 |100% Correct Answers. A residential transaction os defined in F.S. 475 as the sale of any: correct answers - Duplex - improved residential property of four units or fewer, including condominium units -unimproved property intended for four units or fewer - agricultural properties of ten acres or less - leases with options to purchase all or a portion of improved property of four or fewer residential units - dispositio...

NMLS UST Mortgage Exam Questions With Verified Answers A consumer calls to ask about a loan product. How does TILA require you to quote an interest rate to him? - answerThe APR and the interest rate A wraparound mortgage: - answerOccurs when a new mortgage plus an existing mortgage is structured as a single obligation Which of the following is true of an FHA borrower? - answerOnly 75% of rental income counts as qualifying income A mortgage on personal property is a(n): - answerChattel Mo...

NMLS 2024 Exam Questions with Correct A What law deals with credit, APR & advertising of consumer loans? - Answer- TILA/REGULATION Z Which regulation prohibits kickbacks? - Answer-RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - Answer-HPA - Homeowners Protection Act Which regulation prohibits fee splitting? - Answer-RESPA Regulation X is the letter used to describe which Law? - Answer-RESPA RESPA is the acronym used to describe which law...

A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? - ANSWER-4. Activate with a VA licensed broker. The purpose of the VA real estate license law and Board related rules and regulations is to... - ANSWER-Protect the public interest Two brokers are involved in a dispute over a commission split. Which of the following could become involved in the settlement dispute? - ANSWER-A court having jurisdiction over the brokers. If the Board...

NMLS SAFE EXAM QUESTIONS AND ANSWERS | LATEST VERSION | 2024/2025 | GRADED A+ ________ are mortgages that do not fully amortize due to repayment terms of the loan. A. Reverse annuity mortgages. B. Balloon mortgages. C. Graduated payment mortgages. D. Home equity line of credit. B. Balloon mortgages ________ must be reported to borrowers on the truth in lending disclosure. A. Note rates. B. Finance charges C. Payment address D. Servicer's name B. Finance charges - 100% Finan...

NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+. A lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclo...

VA Contractors: General Exam Questions and Answers 2024 Which of the following estimating methods is typically used by the architect rather than the contractor? - CORRECT ANSWER-Conceptual estimate An agreement that calls for a contractor to be paid actual costs for labor and materials plus a fixed fee for the contractor's overhead and profit is called a... - CORRECT ANSWER-cost plus contract Equipment needs for a project are BEST estimated by... - CORRECT ANSWERCalculating the numb...