FNSFMB402 - Identify Client Needs for Broking Services - Finance Assignment Help

Assignment Task

Explain the concept of credit.
What is a credit reporting service?
Describe three (3) elements that make up the economic environment.
What is the business cycle?

What are financial markets?
Name three (3) parties that participate in the financial industry. Describe each party’s role in the industry.
What are interest rates and why are they charged?
How are interest rates changed and set?
Hint: When do interest rates change and why
What are exchange rates?
Give an example of how exchange rates might affect a business.
What is inflation?
What is a deposit bond?

What is the procedure for lodging a deposit bond?
Define the lender in a transaction
Define the borrower in a transaction

Define the lessor in a lease agreement
Define the lessee in a lease agreement.
Define the mortgagee in a transaction
Define the mortgagor in a transaction.
How would you explain Torrens land titles to a client?
How would you explain title searches to a client? List the searches that a conveyancer would complete for a purchase.
What is strata title?
How does strata title differ from company title?

What does it mean when a loan proposal has multiple securities? Provide an example of a loan proposal with multiple securities.
What is a second mortgage?
Give an example of a situation in which a client might seek a second mortgage loan from a different lender to their first mortgage.
What is a ‘Mortgagee sale’.
Hint: Refer to Mortgagee remedies

Define a subdivision of title.
What is a partial discharge of a mortgage?
What is a Caveat
What is a Torrens title?
What does ‘indefeasibility of title’ mean?
What is the difference between a vendor and a purchaser in a property transaction?
What issues need to be considered in determining whether two people should acquire a property as joint tenants or tenants in common?
Hint: Ensure your response covers ‘Right of survivorship’
Most strata title properties involve a Body Corporate or Owners Corporation. What financial records should be kept and maintained for Strata title ownership compared to standard Torrens title ownership.
What is the difference between a split loan and an interest-only loan?
What is the difference between an offset account and a line of credit?
What is the Privacy Act about?
Why would a loan to valuation ratio of 80% or more require lenders mortgage insurance?

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