The Federal Housing Administration loan program was established by the US government to make homeownership more accessible to individuals.
To be considered, an applicant's credit score must be at least 500, with a downpayment of 3.5 percent for a credit score of 580 and 10% for a credit score of 500 to 579.
He must be ready to pay for mortgage insurance, and the home he seeks to purchase must fulfill FHA guidelines.
However, finding a lender ready to offer FHA loans is not his responsibility; rather, the lender must be approved by the Federal Housing Administration. Only an FHA-approved lending financial institution can provide him with a loan.
So, Option C is correct.
The other Options are incorrect as
Thus Option C is correct as this is the only option that is not necessary for an FHA loan.
For more information about FHA loans refer to the link:
Answer:
C. Find a lender who is willing to do FHA-loans.
Explanation:
The Federal Housing Administration loan program was instituted by the United States government to make owning homes by the citizens easier. To be qualified, an applicant's minimum credit score should be 500 with a downpayment of 3.5% with a credit score of 580 and 10% for a credit score which is between 500 to 579. He must be willing to do, mortgage insurance, and the house which he wishes to own must meet the FHA's requirements.
However, it does not depend on him to find a lender willing to do FHA loans, rather, the lender must be approved by the Federal Housing Administration. He can only obtain his loan from an FHA-approved lending financial institution.
Answer:
d. may make some unrealistic assumptions in order to simplify a complex reality
Explanation:
In economics, a model is a conceptual structure that represents economic procedures through a number of variables and a series of rational or quantitative interactions. The economic model is a simpler framework intended to demonstrate complex structures that is often mathematical.
b. 0.33 pieces/min
c. 1.66 pieces/min
d. 0.83 pieces/min
Answer:
Production rate = 1.66 pieces/min (Approx)
Explanation:
Given:
Average lead time = 18 minutes
Average work in process inventory = 30 pieces
Find:
Production rate
Computation:
Production rate = Average work in process inventory/Average lead time
Production rate = 30/18
Production rate = 1.66 pieces/min (Approx)
Answer:
The correct answer is D. a meeting of three of the five commissioners of the Federal Aviation Administration.
Explanation:
Sunshine laws are regulations that require openness in government or business. Sunshine laws make public meetings, records, voting, deliberations and other official actions available for observation, participation and / or inspection. Sunshine laws also require that government meetings be held well in advance and at times and locations that are convenient and accessible to the public, with exceptions for emergency meetings.
In some cases, an event or document that would normally be accessible through the laws of sunlight is closed to public access (as a legally protected matter currently under investigation), but the laws of sunlight are supposed to minimize these exceptions. . Sunshine's laws also differentiate entities that are subject to laws from those that are not. For example, any entity with authority to create binding laws would be subject to the law, but an advisory committee that lacks such authority may not be subject to the laws of sunlight, even if it deals with matters related to government.
Answer:
d. a meeting of three of the five commissioners of the Federal Aviation Administration.
Explanation:
Federal Sunshine law was passed in the U.S in the year 1976. It's sole purpose was to ensure that there is transparency in the federal government. This law applies to a country, state, political subdivisions and it makes meetings, voting, records and other official actions available to the public to observe, participate and inspect.
The meeting that would be subject to the open-meeting provisions of the federal sunshine laws would be a meeting of three of the five commissioners of the Federal Aviation Administration.
Answer: c. increase the discount rate.
Explanation:
The discount rate of a country is the rate at which the central bank in that country loans money out to the financial institutions.
When this rate is low, more financial institutions will borrow money as opposed to when it is high. Banks borrowing money increases the money supply in the economy so if the Federal Reserve wants to reduce money supply, it should increase the discount rate which would dissuade banks from borrowing from the Fed thereby limiting money supply.
Answer:
$2,479,600
Explanation:
The computation of the operating activities via indirect method is shown below:
Cash flow from operating activities
Net income = $2,300,000
Add : Depreciation for the year $157,100
Add: Decrease in account receivable $329,900
Less: Decrease in account payable -$302,000
Net cash flow provided by operating activities $2,479,600
Answer:
c. will be able to make new loans up to a maximum of $9.50
Explanation:
If the reserve requirement is 5% it means that the bank is required to reserve(not loan out) 5% of it's reserves so in this case the bank is required to 5% of 10 (0.05*10) $0.50 as reserves and can loan out $9.50 (10-0.50). As the bank has no desire to hold on to excess reserves we can be sure that it will only hold 0.50 as reserve as it is required and loan out $9.50. So statement c is correct.
Statement A is incorrect because the bank does not need to increase required reserve by $10 but by just $0.50.
Statement B is incorrect a deposit of $10 cannot increase the total reserve by $10.50 as it is impossible mathematically.
Statement d is incorrect because 2 of the 3 statements are incorrect therefore all of the above statements cant be correct.