Reverse Mortgage Simulator™ Introduction – Comprehension Check Questions
Comprehension Check Questions for the Reverse Mortgage Simulator™ Introductory Module.
Comprehension Check Questions
CCQ 1: The Reverse Mortgage Simulator™ is available to Registered Users:
O A: For unlimited use at no cost – FREE – on the Registered User's schedule 24/7.
O B: For unlimited use without a Reverse Mortgage Loan Originator (RMLO).
O C: For providing the initial evaluation process like an RMLO.
CCQ 2: The Reverse Mortgage Simulator™ uses information:
O A: Similar to what an RMLO provides.
O B: To determine if the Prospective Borrower qualifies for a Reverse Mortgage.
O C: Based on input by the Registered User and from third party sources.
CCQ 3: The Registered User's data used by the Reverse Mortgage Simulator™:
O A: Is protected on a secure server and uses controlled access via User Name and Password at Log In.
O B: Is only available to the Registered User.
O C: DOES NOT include complete personal identification information.
CCQ 4: The Reverse Mortgage Simulator™ includes the following:
O A: The Reverse Mortgage Simulator™ analyzes the collected information and compares it to the available current Reverse Mortgage loan programs to determine all possible options (for which the Prospective Borrower qualifies).
O B: The Reverse Mortgage Simulator™ prepares and presents the comprehensive Reverse Mortgage Simulator™ Report.
O C: The Reverse Mortgage Simulator™ provides analysis and explanations related to the Report's results.
Scoring: Whatever answer selected will be correct – this CC is to rely on the Edu section where they were trained to read all of the answers prior to making a selection. Once they have read and selected an answer the RMS Intro's main points are reinforced. Once scored, set T1-27 Flag to 1.
Once you have completed the questions above, you may continue to the Reverse Mortgage Simulator™ Data Entry Module.