The term "warehousing" as used in real estate financing, means:
A. the financing of industrial warehouses
B. a mortgage company collecting loans prior to resale
C. a large bank of savings and loans
D. unregulated real estate loans
Answer: B. a mortgage company collecting loans prior to resale
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Moral hazard is the risk that a health insurer will not pay for covered services.
a. true b. false
A CPA who is employed by a nonaccounting corporation performs services for the employer, including auditing the employer's financial statements. Reports issued wit respect to such activities are distributed with the CPA's name and the CPA designation appearing on the corporate letterhead. These reports should
a. Be restricted to internal use b. Make no reference to GAAS c. Be on plain paper (not on the corporate letterhead) d. Refer to an audit