Recourse debt Study guides, Class notes & Summaries

CPWA EXAM 2023

Tax Shelter - Wealthy taxpayers in high income tax bracket invest in opportunities where they can collect a loss and bring down their taxable income - focused around non recourse financing - obligation where borrower isn't personally liable - Previous investment strategy before laws put in place - Used to avoid/defer taxes = offset income from other source How does tax shelter benefit the investor? - - Tax savings that pay for itself (pay partial amount for larger taxable income savings) ...

The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: a. 0. b. 0.01% of the Maximum Claim Amount. c. 1% of the Maximum Claim Amount. d. 1.25% of the Maximum Claim Amount. - ANSWER-b If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: a. 15% of the maximum claim amount. b. 100% of the actual cost of repairs. c. 100% of the estimated cost of...

NATIONAL REAL ESTATE EXAM PRACTICE TEST ALREADY PASSED 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 remo...

CPWA Exam Questions & Answers 2023/2024 IRS forms - ANSWER-1040 Individuals 1065 partnerships Schedule A itemized deductions Schedule K-1 partnership distributions AGI - ANSWER-Wages, salaries + ordinary dividends + rental real estate income= total income - Qualified plan/IRA contribution= AGI AGI Self Employed - ANSWER-LLC Income + other income = total income -(SUBTRACT) HSA, half self-employment tax paid, SEP contribution, self-employed health insurance deduction = AGI Ab...

SAFE EXAM FINAL STUDY GUIDE QUESTIONS & ANSWERS 2023/2024 ECOA affords consumer protections from a) the time the loan is originated to the closing b) consumer contact through loan servicing c) advertising to application d) the application to the closing - ANSWER-consumer contact through loan servicing To generate leads, if you advertise a loan product or interest rate which you do not intend to make generally avaialable it is?a) Bait advertising b) A legal and ethical transaction c...

NATIONAL REAL ESTATE EXAM PRACTICE TEST LATEST UPDATE GRADED A+ 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 pro...

COLORADO REAL ESTATE NATIONAL EXAM PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. which of these is a correct formula for calculations related to income-producing property? - -rate of return x value = net operating income an optioner and optionee entered into an option contract for an industrial building. the optionee decided not to purchase the property. the optioner sued the optionee for breach of contract. assuming the optioner received an option fee, what damages w...

HECM Practice exam questions and answers The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: a. 0. b. 0.01% of the Maximum Claim Amount. c. 1% of the Maximum Claim Amount. d. 1.25% of the Maximum Claim Amount. - ANSWERS b If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: a. 15% of the maximum claim amount. b. 100% of the actual cos...

CON 127 Questions and Answers with Verified Solutions According to the course material, factors influencing the degree of contract administration include the nature of the work, the type of contract awarded, and: The experience and commitment of the personnel involved A __ is a contractor's request to liquidate the debt against existing unpaid bills due the credit invoice According the FAR 32.6, what can the government collect by offsetting the amount against any payment due the...