Mortgage broker canada - Study guides, Class notes & Summaries

Which statement is TRUE concerning radon? - Answer 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 each sales associate generate in company dollars for Hazel to achieve her goal? - Answer The answer is $26,000. Required revenue is $182,000. ($20,000 + $162,000). Each sales associate must bring i...

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - Answer true which of the following coverages does an open peril policy provide? - Answer perils other than those specifically named as being excluded determine the actual cash value in the following situation: original price of office equiptment when purchased 8 years ago- 9,000. depreciated amount at time of fire...

Comparative Market Analysis - Answer What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers - Answer What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified to undertake any valuation and consulting assignment on dwellings containing not more than 4 self-contained family housing units or on residential dwelling sites. Accredited Appraiser Canadian Ins...

The purposes of RECA according to the Act is the following... - correct answer 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - correct answer 1: Rules are a set of instructions to be followed by a...

The purposes of RECA according to the Act is the following... 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws 1: Rules are a set of instructions to be followed by all industry professionals 2....

Humber Real Estate - Course 2, Module 11, Property Value and Listing Price Considerations Comparative Market Analysis - What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers - What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified to undertake any valuation and consulting assignment on dwellings containing not more than 4 self-contained family housing...

RECA Residential Exam with Verified Solutions Rated 100% Fiduciary Representation -ANS- - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity -ANS- 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing -ANS- - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship ...

Thad and Pierre made an appointment to view a condo for lease advertised in the newspaper. Thad phoned the landlord and set up a viewing for two hours later in the day. The couple thought the condo was perfect and informed the landlord they wanted to start the application process to lease the condo. The landlord then explained the condo had just been leased. The next Sunday in the classifieds, the condo was again advertised for lease. A friend of the couple phoned the landlord, pretending to be ...

The company got in trouble when security commission of Ontario accused many of the company officials for breaking the laws and sharing false information to the shareholders of the company in the management of around two years old issue that involves fabricating paperwork for a number of leases. The troubles began in July 2015, when the company announced it had severed relations with 45 mortgage brokers following an internal probe that indicated borrowers' income and job information had bee...

Land The ground & that which is beneath & above it Real estate land & fixed improvements to the land 00:35 01:34 Real property land, fixed improvements & intangible rights of ownership Personal Property Items that can be removed without damaging to the the property Surface rights Rights assoctiaed with physcial ground (top layer of land) Supply The quantity supplied is the amount of good or service the market can offer at a certain price. Produc...