tory People Window Help Hon × i Secure https t.htm lomework 4-Chapters 12 to 14
ID: 1175023 • Letter: T
Question
tory People Window Help Hon × i Secure https t.htm lomework 4-Chapters 12 to 14 Help Save&Exit; Submit Since hazard insurance premiums are paid up-front, the buyer will have to reimburse (credit) the seller a portion of the premium at the closing. Suppose that the insurance policy's coverage began on December 15 of the prior year and the property transaction is set to close on March 16 of a 365-day year. The premium paid originally by . the seller was $250. If the coverage will expire as of the end of day December 14 in the current year, what is the dollar amount that the buyer must credit the seller? points Seipped Mutiple Choice $62.33 $18767 $0.00 $25000Explanation / Answer
Answer to 9 is: $187.67
Seller has paid a sum of $250 as upfront payment for an entire period of 365 days. Now, the property transaction is closing on MArch 16, which means seller is liable for the insurance only till March 16. The numer of days from December 15 to March 16 come out to be 91 days. The premium for these 91 days would be:
(250/365)*91= $62.33. This is the amount for which seller is liable, remaining amount $187.67 ($250-62.33) should be borne by the Buyer and Buyer should reimburse $187.67 to the seller.
Answer to 15 (MCQ ques: 17) is ALL.
All the options stated in the question are prohibited by the Federal and State Laws
The federal Fair Housing Act, the Fair Housing Amendment Acts (42 U.S. Code 3601-3619, 3631), and many state and local laws prohibit a landlord from selecting tenants based on certain protected criteria. A landlord may not refuse to rent to a tenant for the following reasons:
Answer to 20 (MCQ Question 12) is Closing Disclosure
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