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lions [1.4K]
4 years ago
5

Lancaster salesperson Jamie Dafe has begun to branch out into mortgage brokering. She continues to show homes to clients, but ha

sn't been actively seeking out new listings. Instead, she acts as a loan broker by buying, selling, or exchanging loans. Which of the following statements applies to Jamie's current situation?A. Jamie may not act as a loan broker unless she is properly licensed as one, under the Mortgage Loan Broker Law, set forth under the California Business and Professions Code, Article 7.B. Jamie may act as a loan broker without receiving any special license, other than her active California real estate broker's license, as long as she follows the stipulations set forth under the Mortgage Loan Broker Law, under Article 7 of the California Business and Professions Code.C. In California, a licensed real estate broker MAY assist the buyer in filling out the loan application for a financial institution, but may NOT arrange for financing for the buyer, or broker loans herself. In Jamie's situation, she is acting out of the realm of her real estate broker's license, and can face monetary damages and/or prison time for violating the California Financial Code AND the California Businessand Professions Code, Article 5.D. In California, anyone who wishes to sell, buy, or exchange loans, must meet two requirements: (1) The person must be licensed as a real estate salesperson or broker in California; and (2) The person must first obtain a Commissioner's Permit to Broker Loans. Jamie needs to fulfill this second requirement before she may legally broker loans in California, under Article 5 of the California Business and Professions Code, which is known as the Mortgage Loan Broker Law.
Business
1 answer:
SSSSS [86.1K]4 years ago
6 0

Answer:

A) Jamie may not act as a loan broker unless she is properly licensed as one, under the Mortgage Loan Broker Law, set forth under the California Business and Professions Code, Article 7.

Explanation:

The loan application must include information regarding the real estate broker and must be signed by both the borrower and the broker.

Section 10241 (i) of the California Business and Professions Code, Article 7 requires:

<em>"A statement containing the name of the real estate broker negotiating the loan, his or her license number, and the address of his or her licensed place of business."</em>

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An entrepreneur is the owner of the company while the monitor and manager are employees.

<h3>Who is an Entrepreneur?</h3>

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The entrepreneur serves as an innovator, the manager helps to control the affairs of the company while the monitor oversees compliance.

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6 0
3 years ago
Axe company sponsors a 401(k) profit sharing plan with no employer match, but the company did make noncontributory employer cont
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Answer:

d. $30,000.

Explanation:

Jack is entitled to 100% of his own contributions = $9,000 + $4,000 = $13,000

The following is the least generous vesting schedule

Least-generous graded vesting schedule

Years of service            % vested

1                                             0%

2                                          20%

3                                          40%

4                                           60%

5                                          80%

6                                         100%

Since jack worked for 57 months, he is entitled to 100% of the employer's contributions = $12,000 + $5,000 = $17,000

Total account balance = $13,000 + $17,000 = $30,000

6 0
3 years ago
Ted Corporation expects to generate free-cash flows of $200,000 per year for the next five years. Beyond that time, free cash fl
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Answer:

The value of Ted stock is $2.43

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Free cash flow From Year 1 to 5 = $200000

Cash Flow Year 6 = 200000*1.05

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This cash flow is expected to grow forever, so the terminal value can be caluclated at Year 5 of the above perptuity by Gordon Growth model

Terminal Cash FLow Value at Year 5 = 210000/(15% - 5%)

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Present Value of above stream

= 200000*PVIFA(5 yr, 15%) + 2100000*PVIF(5 yr, 15%)

= $200000*3.352 + $2100000*0.497

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Value of equity = Present Value of Firm - Value of debt

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7 0
4 years ago
When selecting a media vehicle, a media planner calculates the total cost of using a particular medium at the ________.
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Hence, option c is correct

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4 years ago
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