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Financial Planner

Category - Professional Conduct and Regulation

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Under the Home Mortgage Disclosure Act, financial institutions must publicize certain information concerning home purchase loans, home improvement loans, refinances, and applications. How often must the financial institution record reportable transactions?

Monthly
Quarterly
Bi-annually
Annually

Explanation

Answer: B - The Home Mortgage Disclosure Act requires that all reportable transactions be recorded by the end of thirty days after each calendar quarter. The Act also lists required information that should be recorded for each transaction.

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Financial Planner

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Financial Planner

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