A lien in the amount of tax due is placed on all assessed real property on

a. April 15.
b. December 10.
c. January 1.
d. July 1.

Answer: c. January 1.

Business

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Which of the following is NOT a purpose of the Truth-in-Lending Act (Regulation Z)?

A. To give borrowers meaningful information with respect to the cost of credit. B. Disclosure of the annual percentage rate. C. To set maximum interest rates. D. Provide the borrower the limited right to rescind or cancel a credit transaction.

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Reeve is a mortgage loan officer of Boyd's Bank, who closes deals in people's homes. He has no supervisory powers and works for more than 40 hours a week. However, his employer refuses to pay him overtime

In the context of the Fair Labor Standards Act, Boyd's Bank is exempted from paying Reeve because he is a(n) ________. A) executive B) manager C) outside salesperson D) nonprofessional employee

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