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FNS50315 Diploma of Finance and Mortgage Broking Management Assessment 3 Questions

Activity 1

You have been notified by your bank that your mortgage loan has been ‘approved in principle’. Should you immediately commit to purchasing a property? Explain your answer.

Activity 1 Answer

Activity 2

What steps should be taken to prepare for a property settlement?

Activity 2 Answer

Activity 3

Henry has saved up $42,500 to use as a deposit and he wants to know the maximum price of a property he can purchase while avoiding Lender’s Mortgage Insurance (LMI). Henry’s financial service provider requires borrowers with a Loan to Value ratio (LVR) of 80% or more to take out LMI.

Calculate how much Henry can spend on a property without having to pay LMI. Show your workings.

Activity 3 Answer

Activity 4

Identify and explain some of the benefits of the new PEXA system of e-conveyancing.

Activity 4 Answer

Activity 5

How is buying property at an auction different from buying property through a real estate agent?

Activity 5 Answer

Activity 6

What sort of disbursements might a conveyancer make on behalf of a property purchaser?

Activity 6 Answer

Activity 7

What are adjustments when related to a property settlement?

Activity 7 Answer

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