24 Which of the following actions is a mortgageloan originator (MLO) permitted to take whenworking with a borrower who Indicates he has abartending job where the incorne received is notreported on the tax filing?A) Advise the borrower to request his employerto provide a Verification of Employment showingunreported incomeB) Advise the borrower to create new tax returnsshowing the income returnsC) If sufficient, qualify the loan using thereported income onlyD) Add the unreported income to the application

When dealing with borrowers whose income is not fully reported on tax filings, mortgage loan…

Answered: 24 Which of the following actions is a…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

A Question of Ethics—Copyright Infringement.Custom Copies, Inc., prepares and sells coursepacks,which contain compilations of readings for collegecourses. A teacher selects the readings and delivers asyllabus to the copy shop, which obtains the materialsfrom a library, copies them, and binds the copies. Blackwell Publishing, Inc., which owns the copyright to some of the materials,filed a suit, alleging copyright infringement. Custom Copies fileda motion to dismiss for failure to state a claim. [ Blackwell Publishing, Inc. v. Custom Copies, Inc., 2006 WL 1529503(N.D.Fla. 2006)] (See Copyrights.)(a) Custom Copies argued, in part, that creating and sellingdid not “distribute” the coursepacks. Does a copy shopviolate copyright law if it only copies materials for coursepacks? Does the copying fall under the “fair use” exception? Should the court grant the defendant’s motion?Why or why not?(b) What is the potential impact of copying and selling a bookor journal without the permission of, and…
1a. What are the general principles of consumer protection? 1b. Discuss the nature of and parties in a consumer protection suit. Who can bring a suit and why? 1c. Who is held accountable under the consumer protection laws?
ETHICS Pete, an accountant, recommended that several of his clients invest in Competition Aircraft. These clients passed this recommendation on to Arlene, who did invest. Unfortunately, Competition was a fraudulent company that pretended to sell airplanes. After the company went bankrupt, she sought to recover from Pete. Is Pete liable to Arlene? Whether or not Pete faces legal liability, is it a good idea for accountants to recommend investments to clients? Does that practice create any potential conflicts of interest?
34. Billy submits a claim for a stolen vehicle, and the claims specialist believes the claim may be fraudulent. Which of the following circumstances might cause the specialist to suspect the claim ? a. The insured vehicle is never recovered. B.The insured vehicle is recovered and appears to have been in an accident. C.The insured is two months behind on his auto payment note. D.The insured has never filed a claim.
Which of the following premortem actions can increase the liquidity of a decedent's estate? Making certain that a client's will is executed with all of the required legal formalities Stating reasons in a client's will why a close family member is not receiving any part of the client's estate Urging a client to keep written current records of payments made by the client on debts owed to third parties Urging a client to require written security for a promissory note given to the client for assets purchased from the client A) I, II, and IV B) I and II C) I, II, III, and IV D) III and IV
2. Sahar was not satisfied with the reply she received from Diam after she submitted a claim to contest her high water bill for the month of April. As a result, she wrote back to Diam to explain why she deserves a more satisfactory response. In this scenario, Sahar wrote a: * A. persuasive request for action B. persuasive presentation of ideas C. persuasive claim and request for adjustment D. persuasive sales and marketing message E. persuasive performance review
An insurer that writes coverage sends out circulars to potential insureds stating their leading competitor is undergoing a method conduct examination by the department of insurance and that their competitor will probably lose it’s license due to the examination report. The insurer may be guilty ofA. SlanderB. Felonious assaultC. DefamationD. Improper solicitation
True or false with explanation 6) Assume now that Gill lands a job at another college, which schedules him to teach Partnership Tax, Individual Income Tax, and Wills & Trusts. Gill is now ecstatic because he can finally teach law. Two weeks into his first semester, he asks when payday is. The president of the college notifies him that since this college is a nonprofit institution, NOBODY gets paid. The college has violated its duty of compensation. 7) Myron is a bouncer for the Keg Club and must forcibly eject unruly patrons on a nightly basis. The owners of the club cannot be held liable for any civil wrongs Myron may have committed while acting as a bouncer. 8) Myron is a teller at Wells Fargo Bank. On his way to work, he is stopped at the door by his evil boss, Skinflint, the bank president, who refuses to let Myron in the building. Skinflint has violated his duty of cooperation. 9) Assume that Glen is the latest phenom to come out of college to sign a professional baseball…
40 - In which of the following cases, delivery of commercial books is not required according to the Commercial Law?A) Inheritance lawsuitB) Property partnership caseC) Lawsuit for company liquidationD) Bankruptcy proceedingsE) Name correction case
TRUE OR FALSE. Write True if the statement is true. Otherwise, write false.1. Business advertisement is a valid offer.2. Deaf-mutes have no capacity to give consent.3. Fraud voids a contract.4. If B gives his consent due to A’s threat of exposing his marital affairs, there will be nocontract because consent is vitiated.5 Exaggerations in trade are not fraudulent
Section 404 of the Sarbanes-Oxely Act requires A the establishment of procedures to accept employee compliants B D the principle executive to certify they have reviewed the financial statements C a report of the company's internal control over financial reporting code of ethics requirements for senior officers.

Recommended textbooks for you

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Understanding Business

Management

ISBN:

9781259929434

Author:

William Nickels

Publisher:

McGraw-Hill Education

Management (14th Edition)

Management

ISBN:

9780134527604

Author:

Stephen P. Robbins, Mary A. Coulter

Publisher:

PEARSON

Spreadsheet Modeling & Decision Analysis: A Pract…

Management

ISBN:

9781305947412

Author:

Cliff Ragsdale

Publisher:

Cengage Learning

Management Information Systems: Managing The Digi…

Management

ISBN:

9780135191798

Author:

Kenneth C. Laudon, Jane P. Laudon

Publisher:

PEARSON

Business Essentials (12th Edition) (What's New in…

Management

ISBN:

9780134728391

Author:

Ronald J. Ebert, Ricky W. Griffin

Publisher:

PEARSON

Fundamentals of Management (10th Edition)

Management

ISBN:

9780134237473

Author:

Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo

Publisher:

PEARSON

SEE MORE TEXTBOOKS