When would the cost of credit life insurance be included in the finance charge and APR calculations for federal truth-in-lending disclosures?

Q: Which are the major problems facing a lender when reviewing a loan request made by a borrower?

A: Introduction: A loan agreement is nothing but an agreement between a lender and the borrower which…

Q: What interest rate is the bank required by law to report to potential borrowers? (I

A: Effective annual interest rate is also called annual rate of return . It is the real return…

Q: A taxpayer who purchase a series EE US savings bond must report the interest income increase in…

A: The taxpayer can report income from the savings bond either every year or at the time of maturity,…

Q: Describe the Repayment Plans Offered by the Lender?

A: Answer: A repayment plan is a method of repaying a debt over an extended period of time, usually by…

Q: tax applicable to Life Insurance Premiums.

A: Life Insurance Premium: Life insurance premiums are amount we have to pay for availing the life…

Q: How should discount on bonds payable be reported on the financial statements? Premium on bonds…

A: Concept: A premium on bonds occurs if, the bonds are issued at a high price than the face value. On…

Q: For a creditor; how is a loan impairment recorded?

A: Creditors:   They are the outside entities to whom the business owes money for any product or a…

Q: Medical Insurance, a pre-tax deduction? Thank you,

A: Payroll deductions are wages withheld from an employee’s total earnings for the purpose of paying…

Q: How long-term deposit accounts benefit borrowers

A: A deposit account is an account that is held by the customers of a bank and financial institutions…

Q: Assume you are working in public accounting and the client you are assisting has a question on the…

A: A bond discount expense has been incurred and being an employee for a Public Accounting what…

Q: w do yo

A: Introduction : A credit history can be understood as a history of a debtor's timely debt repayments.…

Q: What is the impact of annuity dues in consideration to business matter?

A: Annuity Due: It is the fixed amount of payment that is due immediately at the beginning of each…

Q: For what items may a lender require escrow accounts from a borrower?

A: Escrow account is the third party account in which securities or assets are kept until the…

Q: A deposit premium can be defined as The initial payment schedule required to institute a premium…

A: An insurance contract is a contract where the insured pays the insurer premiums for coverage…

Q: The FHA implements its programs with which of the following procedures?   Providing government…

A: Federal Housing Administration: The FHA's principal purpose was to protect home mortgage loans…

Q: Banks and other lenders are required to disclose a rate called the APR. What is this rate?Why did…

A: Introduction: Annual Percentage Rate (APR) is a rate at which specified rate of interest on the…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to accounting for…

A: Under IFRS, defined benefit plan assets are valued at fair value. Under U.S. GAAP, defined benefit…

Q: How does credit risk affect insurance companies

A: Credit risks affect insurance companies in a tangible and often direct manner.

Q: debt?

A: Introduction Deficit and Debt If the federal revenues and the government spending are equal in a…

Q: what are the legal provisions related to Taxable Income, Medicare Levy, and Medicare Levy surcharge?

A: Medicare Levy Medicare levy helps in funding the Australia's health system known medicare Medicate…

Q: What is the revolving credit arrangements in the exposure draft, Topic 470?

A: The FASB issued an Exposure draft titled debt (470) which aims at simplifying the classification of…

Q: Which of the following is a borrower's right provided by the Mortgage Bankers Association that is…

A: The mortgage bankers association (MBA) is referred to as the national association which mainly…

Q: On what factors do the interest rate and repayment terms for term loans based?

A: Loan refers to the lending of money  by one ore more individuals  or organizations . The recipient…

Q: Explain The Federal Home Loan Mortgage Corporation?

A: Federal Home Loan Mortgage Corporation is a private corporation which is established with the…

Q: Calculate rebate on bills discounted?

A: When a customer who has bills recievable is facing liquidity issue he can approach bank inroder to…

Q: Which task do all finance careers have in common, and which task is designed mainly for insurance…

A: Most Finance careers entail analyzing & reviewing financial information such as budgets, credit…

Q: How does compound interest affect the loans you undertake? For example, how would this  affect…

A: Interest is an additional value which is charged on borrowed or deposited amount. Interest can be an…

Q: How should a debt callable by the creditor be reported inthe debtor’s financial statements?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: What assumption about the future composite rate of interest on an adjustable-rate mortgage is made…

A: The federal truth-in-lending is legislation intended to protect the consumer rights. It protects…

Q: How to calculate the appropriate interest expense based on the amount of outstanding debt using…

A: When the company borrows funds from the people, it has to pay them a certain amount for the borrowed…

Q: Explain the term Loan Repayment Schedule?

A: Loan is a sum of money borrowed by an individual/organization from a bank or lender that has to be…

Q: Determine the effective interest rate to the borrower.

A: The effective interest rate to the borrower would be calculated using the nominal rate. The…

Q: Given the role of the loan originator in the securitization process of a mortgage loan described in…

A: Securitization: A process of combining various financial assets and then selling this pool to…

Q: Which are the subjects that should always be included in a printed form of mortgage instrument is…

A: Parties name, conditions for repayment, clause for the mortgage, condition of an insurer, mortgagors…

Q: Which of the following shows the timeline of the loan from the lender's perspective?

A: A lender is the one who lends to the other party. In return, the lender receives the sum with an…

Q: What does the disclosure note for debt includes?

A: Debt securities: The financial instruments which are bought by investors, or corporations, or mutual…