CLFP - CLASS REVIEW STUDY QUESTIONS WELL ANSWERED WITH A GUARANTEED PASS!
420 mal angesehen 6 käufe
Kurs
CLFP
Hochschule
CLFP
When should lessor register as foreign corp?
Within a state ...
Good - stock of them
Services offered
Inspection or repair of property
Office/employees
Negotiated contracts
What is dode of Hammurabi?
- 1750 BC
- Acknowledges leasing of personal property in his code of laws
- First rec...
clfp class review study questions well answered with a guaranteed pass
when should lessor register as foreign corp
what is dode of hammurabi
early examples of true lease
Schule, Studium & Fach
CLFP
Alle Dokumente für dieses Fach (181)
Verkäufer
Folgen
EvaTee
Deine Reviews
Inhaltsvorschau
CLFP - CLASS REVIEW STUDY
Are UCC 9 required for Leases? - Answer - No but good idea
- In the event transaction not found to be lease, secured creditor has rights to
equipment in BK
Define 'doing business in' another state - Answer - Visit often
- Agent present presence of agent
- Tax paid
- Office
Early examples of true lease? - Answer - Phoenicians shipping experts
- charters covered economic life of ships
- lessee to assume benefits and obligations of ownership
How are Partnership Tax Liabilities treated? - Answer income or losses of partnership
are divided among owners.
How can SWOT help marketing plan - Answer - help you take advantage of what you do
well
- avoid what you do not do well
- focus on biggest opportunities
- avoid risk
How does FASB 13 define an operating lease? - Answer B - bargin purchse option -
NOT
E - economic useful life > 75% - NOT
A - automatic title transfer - NOT
P - PV of payments (no resid) > 90% of FMV - NOT
How does IRS 55-540 define true lease? - Answer P - payment exceed FMV - NOT
A - automatic titletransfer - NOT
I - interest contained in payment - NOT
N - nominal purchase option - NOT
E - equity in lease - NOT
E - excessive lease payments - NOT
How is Outsourcing viewed in the leasing industry/ - Answer it is a good management
practice.
How is the selling process conducting porcess conducted across many different
companies? - Answer - all companies handle differently
- some buy lists, some cold call, some vendor, some broker etc.
How long is UCC good for? - Answer 5 years
,How many owners are required in a LLC? - Answer one (1)
In BK, lease or secured lender more likely to get equipment back? - Answer Lease
Key Elements of Lease Transaction? - Answer - lessee must sign
- lessor must sign
- paid invoice is transfer of ownership
- paid invoice is not transfer of title
Lease Intended As Security - Answer Transaction which is written in the form of a lease,
but the substance is a conditional sale contract or a loan with a security agreement on
the property.
Lessor can only pursue principal with respect to which types of entities? - Answer - sole
proprietor
- general partner
List Accounting Lease Classification - Answer Operating, Capital Loan
List Tax Lease Classification? - Answer Tax Lease (True Lease), Non Tax Lease (Non
True Lease) (aka conditional sale)
Name five forms of Vendor Fraud? - Answer - bunk lessee
- bunk equipment
- false sale leaseback
- bunk signature
- side agreements
- inflated prices
- used vs. new
Sales-Type Lease - Answer From the lessor's perspective - a capital lease that gives
rise to manufacturer's or dealer's profit to the lessor
To gain PMSI, how long do you have to file UCC? - Answer 20 days
To test a scenario in which a PMSI or Blanket Lien prevails, what needs to be
analyzed? - Answer - is secured transaction?
- UCC filed in 20 days?
- did lessor pay for majority of equipment?
What are advantages of Brokering? - Answer - requires little/no capital
- easiest
, - no servicing required
What are advantages of Discounting? - Answer - lower COF
- flexibility
- brand identity
- increased revenue
- retains customer
What are advantages of Equity/Debt funding? - Answer - retain long term economic
benefit
- control - underwriting, funding etc
What are advantages of Securitization? - Answer - low cost of funds
- potential off balance sheet (bk remote company)
- access to capital markets
What are characteristics of a strong sale person? - Answer - on time
- organized
- take initiative
- empathetic
- understands sales cycle
- knowledgeable
- works well with others
- team player
What are CLFP's thoughts on spiffs/rebates? - Answer CLFP frowns upon them
What are common reserve targets? - Answer 1.5 - 2 times annual losses
What are disadvantages of brokering? - Answer - limited profit
- lacks control
- loss long term relationship to funding source
What are disadvantages of Discounting? - Answer -significant reps and warranties
- retains some risk (i.e. residual)
- requires working capital
- potentially less upfront profit.
What are disadvantages of Equity/Debt funding? - Answer - risk
- limited capital
- large back-office requirements
What are disadvantages of Securitization? - Answer - requires expertise
- huge cost to conduct
- time consuming
- need uniformity in assets
Alle Vorteile der Zusammenfassungen von Stuvia auf einen Blick:
Garantiert gute Qualität durch Reviews
Stuvia Verkäufer haben mehr als 700.000 Zusammenfassungen beurteilt. Deshalb weißt du dass du das beste Dokument kaufst.
Schnell und einfach kaufen
Man bezahlt schnell und einfach mit iDeal, Kreditkarte oder Stuvia-Kredit für die Zusammenfassungen. Man braucht keine Mitgliedschaft.
Konzentration auf den Kern der Sache
Deine Mitstudenten schreiben die Zusammenfassungen. Deshalb enthalten die Zusammenfassungen immer aktuelle, zuverlässige und up-to-date Informationen. Damit kommst du schnell zum Kern der Sache.
Häufig gestellte Fragen
Was bekomme ich, wenn ich dieses Dokument kaufe?
Du erhältst eine PDF-Datei, die sofort nach dem Kauf verfügbar ist. Das gekaufte Dokument ist jederzeit, überall und unbegrenzt über dein Profil zugänglich.
Zufriedenheitsgarantie: Wie funktioniert das?
Unsere Zufriedenheitsgarantie sorgt dafür, dass du immer eine Lernunterlage findest, die zu dir passt. Du füllst ein Formular aus und unser Kundendienstteam kümmert sich um den Rest.
Wem kaufe ich diese Zusammenfassung ab?
Stuvia ist ein Marktplatz, du kaufst dieses Dokument also nicht von uns, sondern vom Verkäufer EvaTee. Stuvia erleichtert die Zahlung an den Verkäufer.
Werde ich an ein Abonnement gebunden sein?
Nein, du kaufst diese Zusammenfassung nur für 13,82 €. Du bist nach deinem Kauf an nichts gebunden.
