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AFSB 151 CH.5 EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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AFSB 151 CH.5 EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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AFSB 151 CH.5 EXAM 2024/2025 WITH 100%ACCURATE SOLUTIONS
The information that the surety underwriter organizes for the background
investigation of a principal includes - Precise Answer ✔✔Public information,
including the principal's legal filings, such as lawsuits, judgments, tax liens,
bankruptcies, reorganizations, and Uniform Commercial Code filings.
As a surety underwriter, Peter must evaluate documents and information that is
provided by the principal. Which one of the following documents could alert Peter
of questionable assets or cash flow problems? - Precise Answer ✔✔Age of
accounts reports
Johnny started baking and selling bread out of his home on weekends. His business
was doing well, so he decided to buy a truck and expand the business to include
deliveries to a few local restaurants. After two years, Johnny was struggling to stay
on top of his bills and needed to reorganize. Which one of the following chapters
of the Bankruptcy Reform Act allows small business owners to repay creditors
over a period of time and retain possession of their assets? - Precise Answer
✔✔Chapter 13
Regina's Rugs has a special credit arrangement. It purchases goods for resale to
third parties, and a bank finances the purchase price. The bank secures the loan
with a lien on the goods and, when each item is sold, Regina's Rugs pays the lender
the full amount due on that item. This arrangement is called - Precise Answer
✔✔A floor plan loan.
Which one of the following identifies a section of the Consumer Credit Protection
Act that applies to all credit transactions, commercial and personal, without regard
to the nature or type of credit or the creditor? - Precise Answer ✔✔Title VII, the
Equal Credit Opportunity Act, which prevents creditors from discriminating
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