Misrepresented - Study guides, Class notes & Summaries

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular com...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - ANSWER-Predatory Lending. RESPA-Real Estate Settlement Procedures Act - ANSWER-The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - ANSWER-Home sellers from requiring home buyers to purchase title insurance from...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. Predatory Lending. RESPA-Real Estate Settlement Procedures Act The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits Home sellers from requiring home buyers to purchase title insurance from a particular company pro...

Applicant Age - ANSWER-18 years or older How long do you have to wait to be eligible to retake an examination if you fail? - ANSWER-30 days The Commissioner will prescribe the form of the appraiser's license and it will contain: - ANSWER-Name of the appraiser Address of the appraiser's place of business Date of issuance and expiration date of license Any other information which the commissioner determines is necessary Experience and Fitness requirements for Licensing - ANSWER--A mi...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...

Contractual Capacity - correct answers Ability to understand that a contract is being made and to understand its general meaning Factors of Capacity - correct answers Age, mental incapacity, drugs/alcohol Age of Full Capacity - correct answers 18 years old; a minor can avoid a contract while they are a minor and for a reasonable amount of time after becoming an adult, unless they first ratify the contract - A minor can go through with a contract, but they can also choose to avoid it if th...

What does an agency gain by requiring their employees to behave ethically? CORRECT ANSWER-The agency can gain public trust and confidence, the ability to avoid government regulation, and increased credibility with all stakeholders. Identify two examples of actions that represent ethical breaches. CORRECT ANSWER-1. AM signed for Insured. 2. AM misrepresented a client's garaging address to obtain a better premium. Six Steps to Ethical Decision Making CORRECT ANSWER-1. Define the problem 2...

OLERE QUESTIONS AND ANSWERS OF 2023 7 The Oklahoma Licensed Professional Counselors Advisory Board consists of ____ members. State Commissioner of Health with the advice and consent of the State Board of Health The Oklahoma LPC Advisory board members are appointed by ______. 5 ___ of the members of the board are Licensed Professional Counselors. 2 ___ of the members of the board are lay persons. 4 Licensed Professional Counselors Advisory Board members are appoi...

Fraud, abuse, and waste results in CORRECT ANSWER Overutilization of services ! Increased costs for payers ! Corruption of medical decision making ! Unfair competition ! Harm to patient Fraud CORRECT ANSWER intentional deception or misrepresentation that a person makes to gain a benefit to which they are not entitled Abuse CORRECT ANSWER payment for items or services that the provider is not entitled to and for which the provider has not intentionally misrepresented facts to obtai...

Chapter 11 - Laws and Rules Questions and Answers 100% Pass the identity of the ____ must be made clear in every health insurance advertisement Governor insured insurer commissioner insurer Which of the following is NOT a requirement for soliciting insurance in Maryland? 1.Pass insurance examination 2.At least 21 years old 3. Good character 4.Appointed by an insurer At least 21 years old, age requirement is 18 The Commissioner must examine the financial affairs of each admitted insurer ...