The security agreement on a loan requires adequate insurance coverage for collateral. What is the most appropriate action to take to maintain the original integrity of the loan? Review the original insurance certificate and ask the borrower if there have been any changes. Ensure that the insurance coverage is current and the borrower or policyholder is named as loss payee. Immediately file a claim on the insurance if the borrower defaults on any provision of the loan agreement. Ensure that insurance coverage is current and the lending institution is named as loss payee.

Choose the best answer. 1.Which statement is TRUE about an insurance contract? * a.The insurer is the party that has an obligation under an insurance contract to compensate a policyholder if an insured event occurs. b.The policyholder is the party that has a right to compensation under an insurance contract if an insured event occurs. c.The insured event is an uncertain future event that is covered by an insurance contract and creates insurance risk. d.All of these statements are true about an insurance contract. 2. IFRS 17 provides that insurance contracts should * a.Comply with all existing IFRS b.Generally continue to be subject to existing accounting policies. c.Comply with the IFRS Framework document. d.Be covered by IAS 32 and IFRS 9 3.An insurance contract can contain both deposit and insurance elements. An example might be a reinsurance contract where the cedant receives a repayment of the premiums at a future date if there are no claims under the contract. Effectively this…

Comprehensively discuss the consequences of mortgage defaults coupled with the inherent rights to both the mortgagor and the mortgagee.

Ways that a lender may respond to a defaulted loan without resorting to foreclosure include all of the following except Multiple Choice defer or forgive some of the past-due payments. accept a deed in lieu of foreclosure. allow short sale to a third party. accelerate the debt. offer credit counselina.

tell me why the use of reinsurance contributes to the solvency of the ceding insurer.

The promises of the insurer are found in the insurance policy. True False

The indenture is a contract between the issuer and lenders that does all the following EXCEPT ______.   a. specify the manner in which the principal must be repaid   b. give management's expectations about return of the proceeds   c. list any restrictive covenants   d. detail the nature of the debt issue

All option are Company B, Company A

Which are the subjects that should always be included in a printed form of mortgage instrument is used or an attorney draws up a special form?

Which of the following correctly describes the exchange between lender and borrower in a typical lending transaction? O The borrower signs the Note in return to receive Mortgage from the lender O The borrower signs the Mortgage in return to receive Deed of Trust from the lender O The borrower signs both Mortgage and Deed of Trust to receive money from the lender The borrower signs both Note and Mortgage to receive money from the lender