Rescission - Study guides, Class notes & Summaries

A transactional exemption would be available when a sale is made in all of the following situations EXCEPT A) to a federally chartered credit union B) to a lawyer as an incidental part of his legal practice C) to a broker-dealer by a non-affiliated broker-dealer D) by a federal marshal to individual investors correct answers B The Uniform Securities Act provides for civil penalties in the event of improper activities of agents. Under the act, the maximum that a purchaser would be enti...

NMLS SAFE EXAM QUESTIONS AND ANSWERS 100% CORRECT NMLS SAFE EXAM QUESTIONS AND ANSWERS 100% CORRECT NMLS SAFE EXAM QUESTIONS AND ANSWERS 100% CORRECT NMLS SAFE EXAM QUESTIONS AND ANSWERS 100% CORRECT Primary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for ...

Ch 4 Pearson VUE Exam Questions and Answers 100% Pass 1. Mutual assent to a real estate contract is indicated by (page 98) A. attestation. B. offer and acceptance. C. acknowledgment. D. seals. - Answer- B ( This indicates a meeting of the minds.) 2. An example of an executory oral contract that is enforceable would be a (page 99) A. lease for six months starting in 6 months. B. sale of a lot for less than $500. C. lease for two weeks starting in 12 months. D. sale of drapes for $600....

AIC 301 2024 Exam Questions and Answers All Correct .What are the elements of a legally binding contract? - Answer-To be legally binding, contracts must: • Contain an agreement between all parties • Involve parties with the legal capacity to contract • Contain mutual assent • Involve consideration • Have a legal purpose • Be in the form prescribed by law What are the similarities and differences between bilateral and unilateral contracts? - Answer-In bilateral cont...

(virginia time share act) For an initial purchaser, there is a _________day right of rescission. Meanwhile, a buyer has a 5-day right of rescission in a time share resale. - 7 If VA license applicant has had a license suspended or revoked in any jurisdiction because of association with disciplinary action - A very detailed explanation of the event/circumstances must be included with his license application If there was a prior misdemeanor involving moral turpitude, sexual offense, drug dist...

Basic Contract Law for Paralegals Chapters 1-8 Exam Questions and Answers 2024 Legality -Answer-The condition of conformity with the law; lawfulness. Usury -Answer-Charging a rate of interest that exceeds the rate permitted by law. Surrogacy Contract -Answer-A situation where a woman who "hosts" the fertilized egg of another woman in her womb or who is artificially inseminated with the sperm of a man who is in a relationship with someone else agrees to assign her parental rights to the ...

Investment Advisor Brochure - Initial Delivery Requirements correct answers Investment Advisor must deliver Part 2A brochure & any Part 2B supplements to a prospective advisory client not later than entering into the advisory contract. If not delivered at least 48 hours earlier, then the penatly-free termination requirement is in effect (client has right to terminate contract w/out penalty for 5 business days) Investment Advisor Brochure - Annual Delivery Requirements correct answers within 1...

*C1: Constitutional Law - Law that is based on the U.S. Constitution and the constitutions of the various states. *C1: Statutory Law - The body of law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law). (Incl. Uniform Codes, Uniform Law, and Ordinances) Ordinances - A law passed by a local governing unit, such as a city or a county. *C1: Administrative Law / Regulations - The body of law created by administrative agencies (fed, state & local)...

CMB Exam – Study Questions With 100% Verified Answers According to federal law, which of the following transactions are subject to the three-day right of rescission? - answerPrimary residence for rate/term and/or cash-out refinance. What federal law governs right of rescission? - answerTruth in Lending Act What are 3 borrower qualifications unique to the VA loan product? - answer1. Certificate of Eligibility 2. Active or previous duty service w/ entitlement available 3. VA loans do not...

Basic Contract Law for Paralegals Chapters 1-8 Exam Questions and Answers 2024 Legality -Answer-The condition of conformity with the law; lawfulness. Usury -Answer-Charging a rate of interest that exceeds the rate permitted by law. Surrogacy Contract -Answer-A situation where a woman who "hosts" the fertilized egg of another woman in her womb or who is artificially inseminated with the sperm of a man who is in a relationship with someone else agrees to assign her parental rights to the ...