TRID applies
a. HELOCs.
b. construction-only loans.
c. loans made by a person who makes five or fewer mortgages in a calendar year.
d. reverse mortgages.
Answer: b. construction-only loans.
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Which of the following statements about budgeting is not correct?
a. In zero-based budgeting, the prior budget is adopted for the coming year with no changes. b. All organizations use annual budgets, but most also use quarterly (or more frequent) budgets. c. Out-year budgets are used more for planning purposes than for control. d. Bottom-up budgets begin at the department level and then are approved by senior management.
Broker Barb places a newspaper ad stating that any seller or buyer who lists or buys a property through her will receive a $100 credit towards the broker's commission or purchase price. This is:
A. illegal, because a broker is not permitted to offer a credit to a seller B. illegal, because a broker is not permitted to offer a credit to a buyer C. illegal, because a broker cannot compensate a non- licensee for performing acts requiring a real estate license D. legal