Free HP HP2-I72 Exam Questions

Become HP Certified with updated HP2-I72 exam questions and correct answers

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Total 0 Questions | Updated On: Jul 23, 2025

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Question 1

Which of the following factors is considered when determining the interest rate for a subprime mortgage?

A : The term of the loan

B : The property location

C : The sales price of the property

D : The credit score of the applicants]

Answer: D

Question 2

Which of the following circumstances may indicate fraud with respect to the assets a borrower will use for closing?

A : Bank deposits that are not supported by income or other disclosures

B : Disclosure of gift funds

C : Parental loans disclosed but not yet received

D : Borrower's receipt of a large bonus from an employer

Answer: A

Question 3

Which of the following statements describes the purpose of the TILA-RESPA Integrated Disclosure (TRID)?

A : It provides a three-day cooling-off period for all loans

B : It allows borrowers five days to review the final amount needed for settlement.

C : It ensures that the terms and fees that are quoted at the time of application do not change.

D : It aids borrowers in understanding the loan transaction process by utilizing readily understandable language

Answer: D

Question 4

Which of the following federal laws requires mortgage lenders to adopt and follow anti-money laundering (AML) rules and regulations?

A : The National Bank Act

B : The National Currency Act

C : The Bank Secrecy Act

D : The Real Estate Settlement Procedures Act

Answer: C

Question 5

Under the TILA-RESPA Integrated Disclosure rule (TRID), what is the minimum time period that must pass between a borrower's receipt of a Loan Estimate and the closing of a mortgage loan?

A : 7 business days

B : 15 business days

C : 30 business days

D : 45 calendar days

Answer: A

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Total 0 Questions | Updated On: Jul 23, 2025

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