Are there any continuing education requirements after I pass the Series 7 examination?

July 7, 2024 No Comments

A: Yes, there are continuing education requirements after you pass the Series 7 exam. According to the Securities Industry/Regulatory Council on Continuing Education (CEC), there are two parts to the CE requirement: the regulatory element and the firm element. The Firm Element of Continuing Education

Do I have to complete all exams within a certain period of time to receive the CFA charter?

July 7, 2024 No Comments

A: According to the CFA Institute, a candidate can take as much time as necessary to complete all three levels of the chartered financial analyst (CFA) program. For example, if you passed the June 2017 CFA Level I examination, you could take the CFA Level II examination in

Do minimum wage laws make labor a fixed or variable cost?

July 7, 2024 No Comments

A: Labor is a semi-variable cost. Semi-variable costs have elements of variable costs and fixed costs. Variable costs vary with increases or decreases in production. Fixed costs remain the same whether production increases or decreases. Wages paid to workers for their regular hours are a

For which kind of jobs is having Magna Cum Laude most important?

July 7, 2024 No Comments

A: Having a magna cum laude degree is most important for jobs in the fields of finance, management consulting and engineering. These jobs are well-paying at the entry level and quite competitive, with more than 100 applicants for each spot. Using grades is an easy

Who regulates mortgage lenders?

July 7, 2024 No Comments

A: The federal government, through various agencies and a host of Congressional acts, regulates mortgage lenders. The Federal Truth in Lending Act, its most well-known part being Regulation Z, and the Real Estate Settlement Procedures Act (RESPA) dictate most of the regulations mortgage lenders must

Why do MBS (mortgage-backed securities) still exist if they created so much trouble in 2008?

July 7, 2024 No Comments

A: Despite their infamous reputation and presumed involvement in the financial crisis of 2007-2008, there are several different arguments in favor of allowing market participants to trade and own mortgage-backed securities (MBS). At its basic level, an MBS is any investment solution that uses commercial

Why do most of my mortgage payments start out as interest?

July 7, 2024 No Comments

A: When you make a mortgage payment, the amount paid is a combination of an interest charge and principal repayment. Over the life of the mortgage, the portions of interest to principal will change. At first, your payment will be primarily interest, with a small

What is the difference between a loan and a line of credit?

July 7, 2024 No Comments

A: Standard loans and lines of credit represent two different methods of borrowing money for both businesses and individuals. Typical loans might include mortgages, student loans, auto loans or personal loans; these are one-time, lump-sum extensions of credit that tend to be paid down through

What is the difference between a non-recourse loan and a recourse loan?

July 7, 2024 No Comments

A: The essential difference between a recourse and non-recourse loan has to do with which assets a lender can go after if a borrower fails to repay a loan. In both types of loans, the lender is allowed to take possession of any assets that

What is the difference between a possessory and a non-possessory lien?

July 7, 2024 No Comments

A: The primary difference between a possessory and a non-possessory lien is based on the entity which retains possession of the underlying collateral securing a loan during the period of repayment. A lien is a legal claim to an underlying asset that has been set

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