12-28Under VA Guidelines,if a Borrower Fails the Income Ratio Method

question 41

Multiple Choice

12-28.Under VA guidelines,if a borrower fails the income ratio method he or she may qualify if his or her excess residual income is:

• A) at least 20%
• B) at least 30%
• C) between 10 and 15%
• D) about 35%

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Definitions:

Biological Parents

The parents who are genetically related to the child, through whose gametes the child was conceived.

Adopted Siblings

Children brought into a family through adoption who are not biologically related but are considered siblings within their adoptive family.

Five-Factor Theory

A model proposing five core dimensions, namely openness, conscientiousness, extraversion, agreeableness, and neuroticism, as the structure of human personality.

Openness to Experience

One of the five personality traits of the Big Five personality theory, involving the appreciation for adventure, curiosity, and a range of experiences.