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SOFE AFE Exam - Topic 2 Question 3 Discussion

Subsequent to the funding of a loan, the most common document/s obtained is/are:
A) New or updated appraisals as evidence of the current value of the property and B) Current financial statements on the borrower or the property, if the property is income producing, as evidence of the borrower's continuing financial strength and of the property's continuing ability to produce income and C) Periodic inspection reports as evidence of the physical condition of the property
D) Borrower's financial statements

SOFE AFE Exam - Topic 2 Question 3 Discussion

Actual exam question for SOFE's AFE exam
Question #: 3
Topic #: 2
[All AFE Questions]

Subsequent to the funding of a loan, the most common document/s obtained is/are:

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Suggested Answer: A, B, C

by Jaclyn at May 06, 2022, 06:55 AM

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Alesia
8 months ago
I thought periodic inspection reports were more important.
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Christiane
8 months ago
Borrower's financial statements are key too, but B is better.
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Winifred
9 months ago
Wait, are appraisals really that common after funding?
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Brande
9 months ago
Definitely agree, B is the most common!
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Jamie
9 months ago
I think it's usually current financial statements.
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Leonida
9 months ago
I remember we discussed how borrower’s financial statements are key, so D could be right, but I’m not confident about the others either.
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France
9 months ago
I’m leaning towards A because appraisals seem crucial after funding, but I could be mixing it up with something else we studied.
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Hermila
9 months ago
I feel like I've seen a question like this before, and I think periodic inspection reports could be relevant too. Maybe C is also a contender?
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Susana
9 months ago
I think the answer might be B, but I'm not entirely sure. I remember something about financial statements being important for assessing ongoing risk.
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Denae
9 months ago
Hmm, I'm a bit confused on this one. I know CPM needs to access the Vaults, but I'm not sure if it should be all of them or just the primary. I'll have to think this through carefully.
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Lavina
9 months ago
Okay, let me think this through step-by-step. The 'record' table has a foreign key referencing the 'id' column in the 'master' table. That means the 'id' values in 'record' must match existing 'id' values in 'master'. I'll use that to evaluate the answer choices.
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Kris
10 months ago
This question seems straightforward, but I want to make sure I understand the requirements correctly before answering.
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