Fannie Mae
A) makes FHA loans.
B) buys FHA loans.
C) services FHA loans.
D) insures FHA loans.
Answer: B) buys FHA loans.
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To which of the following parties may a CPA partnership provide working papers related to its tax practice, without being lawfully subpoenaed, without the client's consent, or without taking precautions, such as obtaining a confidentiality agreement, to prevent inappropriate disclosure of client information?
A. The IRS. B. The FASB. C. Any surviving CPA partner(s) on the death of a partner. D. A CPA conducting a review of the practice before purchasing a partnership interest in the firm.
Which of the following initial contact statements should be avoided?
A) May I have some of your valuable time? B) We highly value your opinion and would like to ask you a few questions. C) Would you like to answer a few questions? D) Both A and C should be avoided.