Mortgage broker canada - Study guides, Class notes & Summaries

Mortgage Broker Canada Exam Latest Update...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

Which of the following is part of RECA's commitment to consumer protection? - AnswerWhat are some benefits that mortgage brokerage trade associations offer their members? - Answer- Licensing Standards for mortgage industry members Which entity has the authority to amend the Act? - Answer- Provincial Legislators Which of the following represents an accountability mechanism that RECA must comply with under the Act? - Answer- Previous Fiscal year In addition to mortgage brokerage trade associ...

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 each sales associate generate in company dollars for Hazel to achieve her goal? The answer is $26,000. Required revenue is $182,000. ($20,000 + $162,000). Each sales associate must bring in at least $...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...

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 each sales associate generate in company dollars for Hazel to achieve her goal? The answer is $26,000. Required revenue is $182,000. ($20,000 + $162,000). Each sales associate must bring in at least $...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

Fundamentals of real estate exam prep questions and answers 2024 Land -Answer-The ground & that which is beneath & above it Real estate -Answer-land & fixed improvements to the land Real property -Answer-land, fixed improvements & intangible rights of ownership Personal Property -Answer-Items that can be removed without damaging to the the property Surface rights -Answer-Rights assoctiaed with physcial ground (top layer of land) Supply -Answer-The quantity supplied is the amount of good o...