Non recourse debt Study guides, Class notes & Summaries
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NMLS Practice Test Questions and Answers latest updated 2024
- Exam (elaborations) • 5 pages • 2024
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NMLS Practice Test Questions and Answers latest updated 2024 
1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days 
•90 days 
 
 
 
2) A COFI index is defined as? 
 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance 
cost of fund index 
 
 
 
 
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3) Subordinate financing relates to 
 
...
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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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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 Exam questions and correct answers
- Exam (elaborations) • 14 pages • 2024
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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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HECM Practice exam questions and answers
- Exam (elaborations) • 17 pages • 2024
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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...
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HECM Practice exam questions and answers
- Exam (elaborations) • 17 pages • 2024
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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...
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NATIONAL REAL ESTATE EXAM PRACTICE TEST 100% SOLVED 2024
- Exam (elaborations) • 17 pages • 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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CPWA Exam Questions And Answers 2024
- Exam (elaborations) • 6 pages • 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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SAFE EXAM FINAL STUDY GUIDE QUESTIONS & ANSWERS 2023/2024
- Exam (elaborations) • 44 pages • 2023
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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...
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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...