A real estate broker sent all of his title business to Wonderful Title Co. In appreciation of the business, the title company paid the broker $10 for each transaction. According to the Real Estate Settlement Procedures Act, "RESPA," this practice is:

A: Acceptable if both buyer and seller are told about it and approve;
B: Permissible if the seller is going to pay for the title services and is told about it and approves;
C: Permissible;
D: Forbidden.

Answer: D: Forbidden.

Business

You might also like to view...

One of the most striking recent example of Internet activism stemmed from ________

A) consumers who traveled via Alaska Airlines B) political activists throughout the Middle East who brought down dictators C) Ralph Nader's Unsafe at Any Speed D) Chinese anger about Coca-Cola translating to "bite the wax tadpole"

Business

Which of the following statements concerning the notes to the financial statements is true?

A. The notes to the financial statements are an integral part of the basic financial statements. B. The notes to the financial statements are considered to be required supplementary information. C. The auditor's opinion generally does not extend to the notes to the financial statements. D. The notes support the basic financial statements, management's discussion and analysis, and other required supplementary information.

Business