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Course 171014- The Professional Financial Consultant: Commercial,
  Final Exam
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171014v - The Professional Financial Consultant: Commercial,

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Financial Planning
20 CPE Credit Hours

Final Exam
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Read 'Chapter 1: The Professional Loan Broker' & answer the following question(s):
1. Who does not use a Loan Broker’s service?
2. What type of loans cannot be classified as specialization?
3. Why does a broker request information about the client’s present negative financing?
4. _____________________ does not determine the fee charged for a loan?
Read 'Chapter 2: Loan Packaging' & answer the following question(s):
5. What is not a typical loan-packaging Service?
6. What is not a component of the five C’s?
7. Secured debt is considered to be?
8. Commercial finance can be divided into two main categories
9. Alternative methods to traditional bank financing are
10. What is not a basic factoring plan?
11. Factoring frees client management from
12. Equipment financing is composed of two categories
13. _________________ is not a leasing language
14. Most equipment leases can be described as
15. Leasing advantages do not include
16. A sale-leaseback is a financial transaction which provides a borrower with immediate cash and with the no tax-deductible benefits.
17. Sources of business capital do not include
18. Venture capitalists and individual investors typically will finance a significant portion of your capital needs, but in return they require around 10% annual return on their investment.
19. When dealing with venture capital (VC) firms, you must keep in mind the following suggestion(s) except
Read 'Chapter 3: Commercial Finance' & answer the following question(s):
20. For borrowing money, lenders look for secu­rity in your assets and cash flow regardless of your character.
21. Service Corps of Retired Executives is a commercial or­ganization of business mentors and counselors (
22. The Internet can help you simplify the first step in your search for equity or venture capital by getting your business plan in front of potential investors.
23. ______________________ is an example of personal property.
24. Underwriting a loan application is an objective analysis of evaluating the degree of risk inherent in a loan.
25. _________________________ is normally not included in the loan verification process
26. The federal law requires lenders to treat all loan applicants equally. The law is
27. As opposed to conventional loans, FHA/VA loans normally have
28. Lender/Agencies include all but
29. Which of the following is not considered a major secondary market?
30. Lenders normally offer their best terms for
Read 'Chapter 4: Factoring' & answer the following question(s):
31. ______________________ is not an objective of the HUD-FHA.
32. A FICO (an acronym for Fair, Isaac & Company), or credit score is a computer-generated numerical grade that predicts a lender’s risk in doing business with a borrower. This is used exclusive for mortgage loans.
33. Which one of the following is not a factor in determining FICO scores?
34. Lenders take a greater risk with special use property. But they do not insist on
35. Exhibits to be furnished for an apartment loan application do not require
36. The term lenders use to describe the relative amount of money they will loan on a given piece of property is the
37. For one seeking financing on construction, the best possible institutional source of financing would be
38. The most likely permanent construction loan source for office building would be
39. ________________ is not a basic type of financing.
40. A large residential tract builder seeking construction funds most likely would seek financing from
41. Regulating the loan policies of national banks is the
Read 'Chapter 5: Equipment Leasing' & answer the following question(s):
42. Usury occurs when the lender
43. The annual percentage rate (APR) is the annual cost of credit and is
44. Which of the following must be disclosed as a finance charge under Regulation Z?
45. Which of the following is commonly referred to as Regulation B?
46. With respect to credit reports, an applicant may
47. In order to prevent the practice of redlining and divestment in central city areas, Congress passed the ________________.
48. The Community Reinvestment Act Statement must contain
49. The largest source of funds for home loans comes from
50. Mortgage bankers may be involved in the following activities except
51. A loan for $645,500 would be considered a
52. Funds to finance Freddie Mac (FHLMAC) operations and mortgage purchase programs come from
53. Freddie Mac purchase loans from
54. A firm that specializes in the details of loan origination is known as what?
55. GNMA receives its funds from
56. Private mortgage insurance (PMI) typically needs to be carried
57. Ordinarily the best source for obtaining construction financing is the
58. The role of the FHA is to
59. The money in a VA loan comes from
60. In order to qualify for VA entitlement, a veteran needs to apply for
61. Private mortgage insurance claims are paid by
62. "Balloon payment" is a term commonly associated with
63. Standard home loans that are not insured or guaranteed by an agency of the U.S. government are referred to as what?
64. A wraparound mortgage
65. If the buyer of a home wanted to include in the terms of a mortgage the financing of such items as a stove, refrigerator and air-conditioning, the mortgage used would be a (an)
66. Which of the following statements is false about a participation mortgage?
67. Under ______________ the interest rate charged by the lender can vary according to some reference index not controlled by the lender, such as the interest rate on 1-year United States T-bills or the 11th District Cost of funds Index.
68. A type of mortgage where a buyer pays a seller monthly and the seller pays the lender is.
69. A note where payments are adjusted over time is most likely to be
70. In reverse mortgage, the homeowner has the option to receive
71. Which of the following is not a potential type of index interest rate used in an adjustable rate mortgage?
72. Under __________________, the homeowner has the option to receive monthly payments, a lump sum payout, a line of credit, or any combination.
73. Which of the following is an example of real assets?
74. A principal disadvantage of real estate is that it does not provide a hedge against
75. Using your credit to purchase an asset (such as property or stocks) of substantial appreciation is called
76. Current income is derived from income property by
77. The return on investment typically comes from two sources: __________ and current income.
78. An advantage to buying a home to the person who is to occupy it as his or her personal dwelling is its
79. Which of the following is not an advantage of buying over renting?
80. The home price should not exceed ___________________ your family’s annual gross income.
81. Reasons for investing in real property do not include
82. Depreciation taken as a deduction on annual income tax is a form of
83. Which of the following is a disadvantage of real estate investing?
84. Investment techniques that persons in high income brackets use for the purpose of reducing income tax liability through tax loss write-offs are known as
85. The market value of property less all liens and charges against the property is referred to as
86. Disadvantages of investing in real property do not include which of the following?
87. The principle of maximizing the use of other people's money (OPM), providing a large percentage of return on a relatively small outlay is called
88. _______________ is not a type of real estate investment property:
89. Real Estate Investment Trusts (REIT) are characterized as
90. ____________________ is not an advantage of a REIT.
91. REITs differ from other real estate investments because
92. The amount to be deducted from potential gross income to allow for vacancies should be
93. Specialists in marketing of income properties generally apply which of the following approaches to valuation?
94. If the capitalization rate is 9 percent and the net operating income is $150,000.00, the indicated value would be
95. Leverage is best illustrated by which of the following?
96. As the degree of risk increases, the income generated by a piece of property will be capitalized at a
97. A previously appraised building with a net income of $5,000 was valued at $50,000. What is the current estimate of value if the capitalization rate has increased by one percentage point?
98. Which of the following will result in a capitalization rate of 20%?
99. Certain terms used in real estate investments have applications similar to those used in security analysis. For example, the price-earnings (P/E) ratio found in the analysis of stocks is equivalent to _____________ in real estate investment analysis.
100. The ____________________ is the interest rate which is charged business borrowers having the highest credit rating.
Read 'Chapter 6: Estates' & answer the following question(s):
Read 'Chapter 7: Deeds' & answer the following question(s):
Read 'Chapter 8: Apartment Loan Underwriting Guidelines' & answer the following question(s):
Read 'Chapter 9: Shopping Centers' & answer the following question(s):
Read 'Chapter 10: Real Estate Financing And Investment' & answer the following question(s):
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