12-26The Following Is NOT Included in Borrower Qualification for Conventional,FFIA,and

question 36

Multiple Choice

12-26.The following is NOT included in borrower qualification for conventional,FFIA,and VA loans:

• A) stability of income
• B) union membership dues
• C) credit card debt obligations
• D) living expenses

Compare company data with industry averages to assess a company's market standing.

Understand the impact of the profit margin ratio and the asset turnover ratio on a company's return on assets.

Recognize the reporting requirements for income from continuing operations and income (loss) from discontinued operations.

Identify the correct treatment of gains or losses on disposal of a discontinued operation in financial statements.

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Definitions:

Hijack

The act of unlawfully seizing control of a vehicle, such as an airplane or ship, often to demand a ransom or achieve a political goal.

Competing Clause

Often referred to as a non-compete clause, it is a contract provision that restricts one party's ability to enter into or start a similar profession or trade in competition against another party.

E-commerce Strategy

A plan that outlines how businesses will conduct their sales, marketing, and operations online to drive consumer engagement and sales.

Procedural Unconscionability

A legal principle that occurs when the terms of a contract or the manner in which it was negotiated are so unfair to one party that they are void of meaningful choice.