PKT Sept 26 Financial

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| By Catherine Halcomb
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Catherine Halcomb
Community Contributor
Quizzes Created: 1428 | Total Attempts: 5,897,934
Questions: 5 | Attempts: 196

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Finance Quizzes & Trivia

Questions and Answers
  • 1. 

    What is the classification of this document?

    • A.

      Other - Correspondence

    • B.

      Loan Application

    • C.

      Consent to release info.

    • D.

      Borrower authorization

    Correct Answer
    D. Borrower authorization
    Explanation
    The given document is classified as "Borrower authorization" because it implies that the document is related to granting permission or consent from the borrower for a specific purpose. It suggests that the borrower is authorizing someone or something to act on their behalf or access their information.

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  • 2. 

    What is the classification of this document?

    • A.

      Miscellaneous

    • B.

      IRS 4506

    • C.

      Tax returns

    • D.

      Borrower Package

    Correct Answer
    D. Borrower Package
    Explanation
    The correct answer is "Borrower Package" because the document is classified as a collection of documents related to borrowers. It may contain various forms, agreements, and information required from borrowers for a specific purpose, such as a loan application or mortgage process.

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  • 3. 

    What is the classification of this document?

    • A.

      Acknowledgement Form

    • B.

      Loan Agreement

    • C.

      Lead Paint Agreement

    • D.

      Miscellaneous

    Correct Answer
    A. Acknowledgement Form
    Explanation
    The classification of this document is an "Acknowledgement Form" because it is specifically mentioned in the given options. The other options such as "Loan Agreement," "Lead Paint Agreement," and "Miscellaneous" are not relevant to the document in question. Therefore, the correct answer is "Acknowledgement Form."

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  • 4. 

    What is the classification of this document?

    • A.

      Payment Adjustment Letter

    • B.

      Late payment letter

    • C.

      Other - correspondence

    • D.

      Research

    Correct Answer
    C. Other - correspondence
    Explanation
    The correct answer is "Other - correspondence" because the document is identified as a payment adjustment letter, which falls under the category of correspondence. It is not classified as a late payment letter or research, as it is specifically related to adjusting payments and corresponds with the recipient.

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  • 5. 

    If this document follows a Listing Agreement document. Therefore what would be its classification?

    • A.

      Listing Agreement

    • B.

      Appraisal

    • C.

      MLS

    • D.

      Property Inspection

    Correct Answer
    B. Appraisal
    Explanation
    If this document follows a Listing Agreement, its classification would be "Appraisal". The Listing Agreement is a contract between a property owner and a real estate broker, outlining the terms and conditions for the broker to market and sell the property. An appraisal, on the other hand, is an evaluation of the property's value conducted by a professional appraiser. Since the document follows the Listing Agreement, it suggests that the purpose of the document is to provide an appraisal of the property's value.

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 25, 2015
    Quiz Created by
    Catherine Halcomb
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