Upon becoming employed by a state-licensed mortgage company, an individual who works for a depository institution as a mortgage loan originator (MLO) shall not be deamed to have tamporary suthority to act as an MLO in an application state if which of the following events has occurred? A) The individual has been a witness in a trial where the defendant was convicted of felony fraud. B) The individual has been subject to a court order for payment of child support. C) The individual had an application for an MLO license denied or an MLO license revoked or suspended in any governmental jurisdiction. D) The individual has submitted an application to be a state-licensed MLO in the application state and was registered in the NMLS as an MLO by the prior omplover

Upon becoming employed by a state-licensed mortgage company, an individual who works for a depository institution as a mortgage loan originator (MLO) shall not be deamed to have tamporary suthority to act as an MLO in an application state if which of the following events has occurred? A) The individual has been a witness in a trial where the defendant was convicted of felony fraud. B) The individual has been subject to a court order for payment of child support. C) The individual had an application for an MLO license denied or an MLO license revoked or suspended in any governmental jurisdiction. D) The individual has submitted an application to be a state-licensed MLO in the application state and was registered in the NMLS as an MLO by the prior omplover

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Upon becoming employed by a state-licensed mortgage company, an individual who works for a depository institution as a mortgage loan originator (MO) shall not be desmed to have temporary authority to set as an MLO in an application state if which of the following events has occurred? A) The individual has been a witness in a trial where the defendant was convicted of felony fraud. B) The individual has been subject to a court order for payment of child support. C) The individual had an application for an MLO license denied or an MLO license revoked or suspended in any governmental jurisdiction. D) The individual has submitted an application to be a state-licensed MLO in the application state and was registered in the MLS as an MLO
Upon becoming employed by a state-licensed mortgage company, an individual who works for a depository institution as a mortgage loan originator (MO) shall not be desmed to have temporary authority to set as an MLO in an application state if which of the following events has occurred? A) The individual has been a witness in a trial where the defendant was convicted of felony fraud. B) The individual has been subject to a court order for payment of child support. C) The individual had an application for an MLO license denied or an MLO license revoked or suspended in any governmental jurisdiction. D) The individual has submitted an application to be a state-licensed MLO in the application state and was registered in the MLS as an MLO by the prior employer.
114 The Real Estate Settlement Procedures Act (RESPA) requires lenders, mortgage brokers or servicers of home loans to provide borrowers with pertinent and timely disclosures regarding: A) the nature and costs associated with the settlement process. B) the right to receive a copy of their appraisal before the settlement process. C) their right to cancel the private mortgage Insurance (PMt) on their loan at time of settiement. D) whom to contact if they belleve they have been discriminated against during the settlement process
51 Which of the following actions should a mortgage loan originator (MLO) take if she determines a borrowers failed to disclose a loan on a rental home is refinancing A) Decline the loan B) Report the existing mortgage to the local registry C) Report the loan to the underwriter and management D) Ignore it because the loan will show on the title report
As a student, how do you explain it? Section 6. (a) Any creditor who in connection with any credit transaction fails to disclose to any person any information in violation of this Act or any regulation issued thereunder shall be liable to such person in the amount of P100 or in an amount equal to twice the finance charged required by such creditor in connection with such transaction, whichever is the greater, except that such liability shall not exceed P2,000 on any credit transaction. Action to recover such penalty may be brought by such person within one year from the date of the occurrence of the violation, in any court of competent jurisdiction. In any action under this subsection in which any person is entitled to a recovery, the creditor shall be liable for reasonable attorney's fees and court costs as determined by the court. (b) Except as specified in subsection (a) of this section, nothing contained in this Act or any regulation contained in this Act or any regulation…
When a corporation wishes to issue certain securities, it must provide sufficient information for an unsophisticated investor to evaluate the financial risk involved. Specifically, the law imposes liability for making a false statement or omission that is "material." What sort of information would an investor consider "material" pursuant to the Securities Exchange Act of 1934? Be sure to explain the Act and provide two recent case examples where material representation or omission amounted to securities fraud in violation of SEC Rule 10b-5.
Which of the following matters cannot be taken into account in determining a taxpayer’s purpose in entering into or carrying out a scheme under Part IVA: (a) Manner in which the scheme is entered into and carried out. (b) Form and substance of the scheme. (c) Time the scheme is entered and length of period it is carried out. (d) Tax result achieved but for Part IVA. (e) Change in financial position of the taxpayer and any connected person. (f) Other consequences for the taxpayer and any connected person. (g) Nature of any connection between the taxpayer and any connected person. (h) A taxpayer’s actual subjective purpose. in entering into the scheme or carrying it out. Which of the following cannot be a general deduction for an employee: (a) Work union membership fees. (b) Work related travel (non-car) expenses. (c) Periodical subscriptions to trade or professional associations. (d) Periodical subscriptions to work related or professional books and manuals. (e) Technical or trade…
1. Reinstatement of a life insurance policy requires an insured to take all of the following actions EXCEPT: A. provide evidence of insurability B. make collateral assignment to the insurer C. pay back interest on any outstanding policy loa D. pay all past-due premiums
Which of the following statements about the Securities Act of 1933 is not true?(1) The third-party user does not have the burden of proof that she/he relied on thefinancial statements.(2) The third party has the burden of proof that the auditor was either negligent orfraudulent in doing the audit.(3) The third-party user does not have the burden of proof that the loss was causedby the misleading financial statements.(4) The auditor will not be liable if he or she can demonstrate due diligence inperforming the audit.
74 When a consumer has the right to rescind a mortgage loan transaction, which of the following definitions of the term A) All days, except Sundays and legal federal public holidays B) All days, except Saturdays, Sundays and lender holidays C) All days as deemed by the creditor's policies and procedures D) All days on which most creditors offices are open for business
7 which of the following statements is correct about an ordinary life policy A premium payment can be increased or decrease at the discretion of the premium payer B the beneficiary designation can be changed to another person only if that person a medical examination C the policy owner may borrow against the cash value of the policy D The named beneficiary must submit evidence of continuing insurable interest in the life of the insured
3. Regulation of private pension plans Which of the following are provided by federal regulations of private pension plans? Check all that apply. Insurance of all participants in private defined-benefit plans to receive their benefits upon retirement Transferability of vested pension funds upon a change of employment Insurance of only executive employees participating in private defined-benefit plans to receive their benefits upon retirement Insurance of all participants in private defined-contribution plans to receive their benefits upon retirement Tax benefits only for executive employees Which of the following are the characteristics of the Pension Benefit Guaranty Corporation (PBGC)? Check all that apply. Has no regulatory powers May act as the pension fund manager Affected by economic conditions Has vast regulatory powers