Question 1

The ___________________________ Act prohibits lenders from asking certain questions to a customer,such as a customer's age or race.

Accepted Answer

Equal Cred

Question 2

A bank is considering making a loan to Sam Snape.Mr.Snape has $1,000 in the bank right now but generally keeps a balance of $4,500 most of the year.What aspect of evaluating a consumer loan application is this fact concerned with?

Accepted Answer

A) Character and purpose 
B) Income level 
C) Deposit balance 
D) Employment and residential stability 
E) Pyramiding of debt 
A) Character and purpose 
B) Income level 
C) Deposit balance 
D) Employment and residential stability 
E) Pyramiding of debt

Question 3

The law which was passed to curtail predatory lending is known as the:

Accepted Answer

A) Community Reinvestment Act. 
B) Home Ownership and Equity Protection Act. 
C) Equal Credit Opportunity Act. 
D) Fair Debt Collection Practices Act. 
E) None of the options is correct. 
A) Community Reinvestment Act. 
B) Home Ownership and Equity Protection Act. 
C) Equal Credit Opportunity Act. 
D) Fair Debt Collection Practices Act. 
E) None of the options is correct.

Question 4

The ______________________ Act requires that applicants for mortgage loans must be given a disclosure statement indicating whether the servicing rights could be transferred to another institution that borrowers will have to deal with during the loan tenure.

Accepted Answer

A) Equal Credit Opportunity 
B) National Bank 
C) Federal Lending 
D) National Affordable Housing 
E) Fair Credit Reporting 
A) Equal Credit Opportunity 
B) National Bank 
C) Federal Lending 
D) National Affordable Housing 
E) Fair Credit Reporting

Question 5

Real estate loans are smaller in size and shorter in maturity than most other types of bank loans.

Accepted Answer

A) True 
 B)False

Question 6

A bank is considering making a loan to Ron Weasley.Ron has a gross salary per month of $4,000 but has take-home pay of $2,800 per month.What aspect of evaluating a consumer loan application is this fact most concerned with?

Accepted Answer

A) Character and purpose 
B) Income level 
C) Deposit balance 
D) Employment and residential stability 
E) Pyramiding of debt 
A) Character and purpose 
B) Income level 
C) Deposit balance 
D) Employment and residential stability 
E) Pyramiding of debt

Question 7

Customers who apply for credit have the right to receive a written notice along with the reasons for denial if their loan request is turned down by a bank.

Accepted Answer

A) True 
 B)False

Question 8

An additional charge on a home mortgage loan that a borrower may be asked to pay up front is referred to as:

Accepted Answer

A) loan interest owed. 
B) points. 
C) loading. 
D) tax equity. 
E) None of the options is correct. 
A) loan interest owed. 
B) points. 
C) loading. 
D) tax equity. 
E) None of the options is correct.

Question 9

The "right of offset" allows a bank to auction a customer's property to the highest bidder to recover a loan in default.

Accepted Answer

A) True 
 B)False

Question 10

Short-term credit to finance the building of homes or other dwellings is called a _____________________.

Accepted Answer

The answer of Short-term credit to finance the building of...

Question 11

Credit cards offer convenience to customers plus a revolving line of credit.

Accepted Answer

A) True 
 B)False

Question 12

A loan officer asks a customer what race she belongs to.Which law prohibits the loan officer from asking such question?

Accepted Answer

A) The Truth in Lending Act 
B) The Equal Credit Opportunity Act 
C) The Community Reinvestment Act 
D) The Fair Debt Collection Practices Act 
E) None of the options is correct 
A) The Truth in Lending Act 
B) The Equal Credit Opportunity Act 
C) The Community Reinvestment Act 
D) The Fair Debt Collection Practices Act 
E) None of the options is correct

Question 13

The APR is the internal rate of return on a loan that equates total payments with the amount of the loan.

Accepted Answer

A) True 
 B)False

Question 14

According to a proposal under Dodd-Frank Wall Street Reform and Consumer Protection Act,lenders who are pooling and securitizing the mortgage loans they create and then selling them off should remain responsible for at least:

Accepted Answer

A) 10 percent of market risk attached to these loans. 
B) 5 percent of market risk attached to these loans. 
C) 10 percent of credit risk attached to these loans. 
D) 5 percent of credit risk attached to these loans. 
E) 50 percent of the credit risk attached to these loans. 
A) 10 percent of market risk attached to these loans. 
B) 5 percent of market risk attached to these loans. 
C) 10 percent of credit risk attached to these loans. 
D) 5 percent of credit risk attached to these loans. 
E) 50 percent of the credit risk attached to these loans.

Question 15

The principal task of the Consumer Financial Protection Bureau (CFPB)is to:

Accepted Answer

A) design the monetary policy. 
B) ensure safety and soundness of the banking system. 
C) write new rules to protect customers of the financial services industry. 
D) provide insurance to the investors' funds in the banks. 
E) ensure that the banks conform to the international banking regulations. 
A) design the monetary policy. 
B) ensure safety and soundness of the banking system. 
C) write new rules to protect customers of the financial services industry. 
D) provide insurance to the investors' funds in the banks. 
E) ensure that the banks conform to the international banking regulations.

The ___________________________ Act prohibits lenders from asking certain questions to a customer,such as a customer's age or race.

A bank is considering making a loan to Sam Snape.Mr.Snape has $1,000 in the bank right now but generally keeps a balance of $4,500 most of the year.What aspect of evaluating a consumer loan application is this fact concerned with?

The law which was passed to curtail predatory lending is known as the:

The ______________________ Act requires that applicants for mortgage loans must be given a disclosure statement indicating whether the servicing rights could be transferred to another institution that borrowers will have to deal with during the loan tenure.

Real estate loans are smaller in size and shorter in maturity than most other types of bank loans.

A bank is considering making a loan to Ron Weasley.Ron has a gross salary per month of $4,000 but has take-home pay of $2,800 per month.What aspect of evaluating a consumer loan application is this fact most concerned with?

Customers who apply for credit have the right to receive a written notice along with the reasons for denial if their loan request is turned down by a bank.

An additional charge on a home mortgage loan that a borrower may be asked to pay up front is referred to as:

The "right of offset" allows a bank to auction a customer's property to the highest bidder to recover a loan in default.

Short-term credit to finance the building of homes or other dwellings is called a _____________________.

Credit cards offer convenience to customers plus a revolving line of credit.

A loan officer asks a customer what race she belongs to.Which law prohibits the loan officer from asking such question?

The APR is the internal rate of return on a loan that equates total payments with the amount of the loan.

According to a proposal under Dodd-Frank Wall Street Reform and Consumer Protection Act,lenders who are pooling and securitizing the mortgage loans they create and then selling them off should remain responsible for at least:

The principal task of the Consumer Financial Protection Bureau (CFPB)is to:

An Overview of the Changing Financial-Services Sector

The Impact of Government Policy and Regulation on the Financial-Services Industry

The Organization and Structure of Banking and the Financial-Services Industry

Establishing New Banks, Branches, ATMs, Telephone Services, and Websites

The Financial Statements of Banks and Their Principal Competitors

Measuring and Evaluating the Performance of Banks and Their Principal Competitors

Risk Management for Changing Interest Rates: Asset-Liability Management and Duration Techniques

Investment Banking,Insurance,and Other Sources of Fee Income

Risk Management: Asset-Backed Securities, Loan Sales, Credit Standbys, and Credit Derivatives

The Investment Function in Financial-Services Management

Liquidity and Reserves Management: Strategies and Policies

Managing and Pricing Deposit Services

Managing Nondeposit Liabilities

Investment Banking, insurance, and Other Sources of Fee Income

The Management of Capital

Lending Policies and Procedures: Managing Credit Risk

Lending to Business Firms and Pricing Business Loans

Acquisitions and Mergers in Financial-Services Management

International Banking and the Future of Banking and Financial Services

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Exam 18: Consumer Loans, Credit Cards, and Real Estate Lending

The ___________________________ Act prohibits lenders from asking certain questions to a customer,such as a customer's age or race.

A bank is considering making a loan to Sam Snape.Mr.Snape has $1,000 in the bank right now but generally keeps a balance of $4,500 most of the year.What aspect of evaluating a consumer loan application is this fact concerned with?

The law which was passed to curtail predatory lending is known as the:

The ______________________ Act requires that applicants for mortgage loans must be given a disclosure statement indicating whether the servicing rights could be transferred to another institution that borrowers will have to deal with during the loan tenure.

Real estate loans are smaller in size and shorter in maturity than most other types of bank loans.

A bank is considering making a loan to Ron Weasley.Ron has a gross salary per month of $4,000 but has take-home pay of $2,800 per month.What aspect of evaluating a consumer loan application is this fact most concerned with?

Customers who apply for credit have the right to receive a written notice along with the reasons for denial if their loan request is turned down by a bank.

An additional charge on a home mortgage loan that a borrower may be asked to pay up front is referred to as:

The "right of offset" allows a bank to auction a customer's property to the highest bidder to recover a loan in default.

Short-term credit to finance the building of homes or other dwellings is called a _____________________.

Credit cards offer convenience to customers plus a revolving line of credit.

A loan officer asks a customer what race she belongs to.Which law prohibits the loan officer from asking such question?

The APR is the internal rate of return on a loan that equates total payments with the amount of the loan.

According to a proposal under Dodd-Frank Wall Street Reform and Consumer Protection Act,lenders who are pooling and securitizing the mortgage loans they create and then selling them off should remain responsible for at least:

The principal task of the Consumer Financial Protection Bureau (CFPB)is to:

An Overview of the Changing Financial-Services Sector

The Impact of Government Policy and Regulation on the Financial-Services Industry

The Organization and Structure of Banking and the Financial-Services Industry

Establishing New Banks, Branches, ATMs, Telephone Services, and Websites

The Financial Statements of Banks and Their Principal Competitors

Measuring and Evaluating the Performance of Banks and Their Principal Competitors

Risk Management for Changing Interest Rates: Asset-Liability Management and Duration Techniques

Investment Banking,Insurance,and Other Sources of Fee Income

Risk Management: Asset-Backed Securities, Loan Sales, Credit Standbys, and Credit Derivatives

The Investment Function in Financial-Services Management

Liquidity and Reserves Management: Strategies and Policies

Managing and Pricing Deposit Services

Managing Nondeposit Liabilities

Investment Banking, insurance, and Other Sources of Fee Income

The Management of Capital

Lending Policies and Procedures: Managing Credit Risk

Lending to Business Firms and Pricing Business Loans

Acquisitions and Mergers in Financial-Services Management

International Banking and the Future of Banking and Financial Services

Filters