The five-year record retention requirement for disclosures made under RESPA is measured from:

a. The date the disclosure is provided
b. The date the loan closes
c. The date the loan is sold or paid off
d. The date that the loan application was completed

Ans: c. The date the loan is sold or paid off

Business

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Describe the management/business issues around both business continuity and IT disaster recovery

What will be an ideal response?

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The difference between scenario analysis and sensitivity analysis is ________

A) scenario analysis is based upon the internal rate of return (IRR) and sensitivity analysis is based upon net present value (NPV) B) only sensitivity analysis allows us to change estimated inputs of net present value (NPV) analysis C) scenario analysis considers the effect on net present value (NPV) of changing multiple project parameters D) only scenario analysis breaks the net present value (NPV) calculation into its component assumptions

Business