What is the maximum fee a Real Estate Settlement Procedures Act (RESPA)- controlled lender may charge to a borrower for the preparation of mandatory disclosures?
a. 0.5% of loan payment
b. $25.00
c. $100.00 for jumbo loans
d. Nothing
Answer: d. Nothing
Business
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Under the Plaza Accord of 1985, the Group of Five major industrial countries concluded that it would be desirable if:
A. the countries returned to a system of fixed exchange rates. B. the participating members reverted to the gold standard. C. the United States adopted protectionism to improve its trade balance. D. most major currencies appreciated vis-à-vis the U.S. dollar. E. governments did not regulate the buying and selling of currency.
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