Pls help ASAP on both Monique, a mortgage broker, is doing her first private mortgage with aninexperienced private investor, Christine, and is now at the stage of preparing theappropriate disclosure documents for presentation to Christine. She's spoken todifferent agents and brokers about how they present this information to theirinvestors, and based on their recommendations she has decide on a course ofaction. Given the following options, which one should Monique choose?Select one:a. Email the investor the disclosure documents and respond to any questionsby emailb. Meet with the investor, give the documents to her and answer any generalquestionsc. Email the investor the disclosure documents and meet with her to havethem signedd. Meet with the investor and explain, in detail, the disclosure documents Felicia, a private investor, is asking you about the risks associated with the power ofsale process. Out of the following list, what would you tell Felicia is the mostcommon risk?Select one:a. Fraudulent documentationb. Property being sold above market valuec. Straw buyerd. Outstanding balance after the property is sold

The most appropriate option for Monique in this scenario would be:b. Meet with the investor, give…

Answered: Monique, a mortgage broker, is doing…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions

Section: Chapter Questions

Problem 8DQ

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II. Case Application. Answer the following situations by applying what you have learned from the previous discussions. A customer says, "Insurance is a waste of money. If and when I suffer a financial loss because of an accident or some other event, I can pay for it from my savings account." As an insurance agent your primary goal is to change this kind of mindset, how would you persuade this person to purchase insurance? Design a strategy. At 30, Alyssa Valdez invested P50,000 in a time deposit which earns 3% per annum. With the same interest rate, how much would her earnings be at age 35 if she reinvests the interest with the principal. Show your solution
. Dean advises his Broker that he has completed renovations in his basement. He will be renting the basement to two separate families but does not want his rate to increase.Dean has been a long term client and refers a lot of business to the Brokerage. What should the Broker do? Inform the client of a likely premium increase and advise the insurance company of the change. Add a note to the client's file and save the changes for a renewal date. Work on quotes with other markets at renewal time. Leave the policy as is since the basement is still vacant.
Assume: You are a financial adviser and are approached by a married couple, Tom, and Rita Brown. Both are 71 years old and Australian citizens by birth. While they live in Melbourne, their only son who is financially independent lives in Canberra. The following information is an extract of data you gathered as part of the fact-finding exercise during an initial client consultation with them: The couple has approached you to find out if they are eligible for age pension. list of assets for the current financial year Assets Amounts Income Home (Principal Residence) $700,000.00 Home Contents and Cars $57,000.00 Investment Property- net rental income of $7,000 $255,000.00 17,000.00 Bank account- interest Rate of 2% 50,000.00 1,000.00 Shares Portfolio 341,000.00 11,935.00 You are required to provide calculations for the means test (asset and the Income test) and use this to suggest old age pension…
Stanley recently moved back to Ontario after living abroad for two years. He purchased a vehicle and is asking his Broker for insurance quotes. One insurance company's quote is favourable but the company prefers not to insure Stanley because of the gap in his insurance history. What should the Broker do to act within the scope of his agreement with the insurance company? Obtain approval for the risk from the Principal Broker for approval and then submit the completed application to the insurer.• Discuss the risk with the insurer's underwriter for binding approval and then submit the completed application to the insurer.•Discuss the risk with colleagues first and then submit the completed application to the insurer.•Submit the application without the driving gap as this will get Stanley the best rate.
Micah asks his girlfriend Brandi if he can borrow her car. Brandi agrees to allow Micah to use her car for the day. Multiple Choice A leasehold has been created. An easement has been created. A fee simple defeasible has been created. A bailment has been created. If a transaction is unsecured what might a creditor request in exchange for offering a line of credit? Multiple Choice A recorded security A perfected security interest A legal guaranty A personal guaranty The court cannot force creditors to agree to a reorganization plan even if it is fair, equitable, and feasible. True False
Mr. and Mrs. George enter into a written, signed agreement to buy a house owned by Samantha Jones. In the contract, it says that the sale will go forward if the Georges obtain financing for the mortgage. What kind of condition is this? Explain.Now, assume that the Georges successfully obtained the financing; but, and Samantha Jones is now refusing to sell them the house. Do the Georges have any recourse? Explain in detail.
Case, Part 1: Velma, a 59-year-old minority woman who works as a teacher, contacts you about getting a loan to purchase a condominium. As you’re chatting, she indicates that she’s hoping to retire from teaching in three years. You take her financial and personal information and see that you should be able to get her the amount she needs to purchase the home, and now you need to discuss terms. You share some loan options with her and she insists that she’s only interested in an adjustable rate mortgage, because she wants the lower monthly payments to start and is convinced the interest rates will stay low or go down even further. 1. What should you share with Velma about an ARM loan given her situation? Are you obligated to help her apply for the loan she wants?
You have a friend, Icahn Betitall, who just started a small business. He ispaying a hefty premium for insurance. Icahn’s insurance agent told himthat he is insuring against the risk of loss on fire, theft, liability, and businessinterruption. Icahn also has policies for life, health, and automobiles. Icahnis planning a trip to Las Vegas. He plans to contact his agent and obtain apolicy on the risk of losing his money at the blackjack table.a. What should you tell Icahn about being able to purchase such a policy?b. What are several methods that Icahn can choose to manage his risk exposurein Las Vegas?
Personally Established Retirement Accounts These days, almost anyone can open personal, tax-sheltered retirement accounts whether or not they're enrolled in a plan at work. Terms and provisions vary among plans, so it pays to do some homework before deciding which is best for your circumstances and goals. To help you focus on the aspects of different plans, answer the following questions. Madeline is a sole proprietor. She wants to create a retirement plan that requires the least amount of setup and maintenance effort. What type of plan is Madeline most likely going to open? SEP-IRA О Кеogh Chun is a small-business owner. She wants to create a profit-sharing or money-purchase retirement plan. What type of plan is Chun most likely going to open? SEP-IRA О Кеogh Alison is 58 years old and opened a traditional IRA when she was 53. Alison earns less than $100,000 per year. Her contribution for this year is $7,000. This contribution is made entirely with: pretax dollars. O after-tax…
All senior officers of ABC Bank are entitled to obtain a housing loan. X is an Executive Vice President for Operations of ABC Bank. She obtained a housing loan with the bank. It is now argued that the loan is a DOSRI loan and must therefore be approved by the Board of Directors of the bank. Is the argument correct?
18 When negotiating with homeowners in foreclosure, what must you do before discussing the numbers? A O Contact the lender to open negotiations on a short sale. Tour the property with the homeowners. Get copies of their loan documents and notices from the lender. DO Build their motivation.
Ghislaine has bought a house. She borrowed most of the price of the house from Monster Bank, which holds a fixed charge over the house as its securityWhich of the following descriptions of the legal relationship between Ghislaine and Monster Bank is accurate? A. Ghislaine is the bank's receivable (debtor) and Monster Bank is Ghislaine's mortgageeB. Ghislaine is the bank's payable (creditor) and Monster Bank is Ghislaine's mortgagorC. Ghislaine is the bank's bailor and Monster Bank is Ghislaine's mortgageeD. Ghislaine is the bank's receivable (debtor) and Monster Bank is Ghislaine's ballee

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