FLORIDA MORTGAGE BROKER EXAMS COMPILATION BUNDLE 2024/2025|GUARANTEED SUCCESS

Financial Services Commission The governor and cabinet who select two officials to regulate banking, securities, and insurance Division of Finance Department responsible for licensing, examining and regulating non-depository financial services companies in Florida Bureau of Finance R...

Florida MLO State broker Test with complete verified solutions

Florida MLO State broker Test with complete verified solutions

What law prohibits a lender from requiring mortgage insurance through any agent or company? Anti - coercion law Who supervises all activities of the OFR? The director What are examples of prohibited practices under Chapter 494? Mostly fraud related activities Who can a fee or...

Which statement is TRUE concerning radon? Two homes next door to each other may have very different levels of radon. Hazel's brokerage firm has an annual expense budget of $162,000 that includes her own salary. She wants to make $20,000 profit. If she has seven sales associates, what must e...

ancial Regulation (OFR or the Office) Does what? oversees all financial institutions in the state of Florida. Within the Office, there are three Divisions What are the the three divisions in the OFR ? The Division of Finance, the Division of Financial Institutions, and the Division of Secur...

Brokerage Fee on closing disclosure debit seller only; page 2 Accrued depreciation using the age-life method Never depreciate a land, Sales Price, Appraisal, Survey, Title Insurance, Tangible Tax, Stamp Tax, = Add those, Don't add any Land Value. Only Building. Multiply say 80% building (2...

For a mortgage loan of $7,000, what is the maximum loan origination fee that may be charged? $950 The anti-coercion notice: Must be signed by the borrower and retained by the lender Contract loan processors: May work for more than one mortgage broker or mortgage lender at the same t...

Technical skills Skills that include time management, preparing Cmas, and completing contracts. Desk cost Dividing total office expenses by number of sales associates Institutional advertising Advertising that describes the firm, its personnel, and its services. Fixed expense...