1. If a client were to ask you to explain the formula that is used to calculate simple interest how would I explain it? Use the example of interest earned on $2,000 at 8% p.a. interest over five years ?
2. If a client were to ask you to explain the formula that is used to calculate compound interest how would I explain it? Calculate how much interest is earned on $2,000 at 8% over five years if the interest is compounded quarterly. Keep your work to two decimal places and full dollars?
3. If a client were to ask you to explain the formula that is used to calculate the payments on a mortgage how would I explain it?
4. If a client were to ask you to explain the formula that is used to calculate How long it should take to pay back a loan. how would I explain it? Use this method to calculate how long it would take to pay off a $400,000 loan at 8% p.a. with monthly payments of $4,000 per month. Reference which calculator you use?
5. Describe three risk factors that borrowers and three that lenders have to contend with when a property is being purchased in Australia.
6. Explain what the Mortgage & Finance Association of Australia's Code of Practice describes as brokers' obligations concerning disclosure.
7. Describe the key steps in a successful negotiation?
8. Explain each step of the mortgage application process when it is conducted through a mortgage broker in australia?
9. Identify whether the state (New South Wales, Australia) that you live in has assistance for disadvantaged or low-income earners. Give details of the value of the assistance?
10. Identify whether the state (New South Wales, Australia) that you live in has stamp duty concessions for first home buyers. Give details of the value of the concessions?

(ALL ANSWERS SHOULD BE ON AUSTRALIAN PERSPECTIVE)