MAS Financial Services Legal Officer Interview Questions and Answers

A mortgage is a loan used to purchase a property, with the property serving as collateral. Types include fixed-rate, adjustable-rate, and interest-only mortgages.

• A mortgage is a loan used to purchase a property

• The property serves as collateral for the loan

• Types of mortgages include fixed-rate, adjustable-rate, and interest-only

• Fixed-rate mortgages have a set interest rate for the life of the loan

• Adjustable-rate mortgag...read more

A mortgage is a loan used to purchase a property. There are two types: fixed-rate and adjustable-rate.

• A mortgage is a loan used to buy a property, usually a house or apartment.

• The borrower agrees to pay back the loan over a set period of time, with interest.

• Fixed-rate mortgages have a set interest rate that does not change over the life of the loan.

• Adjustable-rate mortgages have an interest rate that can change over ti...read more

The process for filing a police complaint under section 156(3) of the law, as per section 202.

• Section 156(3) of the law allows a Magistrate to order an investigation into a complaint.

• Section 202 requires the Magistrate to inquire into the case before deciding whether an investigation is necessary.

• To file a police complaint under section 156(3), the complainant must approach the Magistrate with a written application.

• The...read more

Property search involves conducting research and investigation to gather information about a specific property.

• Property search is a process of gathering information about a property's ownership, history, and legal status.

• It typically involves searching public records, such as land registries, to obtain details about the property.

• The search may include information about past sales, mortgages, liens, easements, and other...read more

The document required to fund a property depends on the type of funding and the jurisdiction. Generally, a loan agreement, mortgage deed, and property valuation report are common documents.

• Loan agreement: A legal document outlining the terms and conditions of the loan.

• Mortgage deed: A document that creates a lien on the property as security for the loan.

• Property valuation report: An assessment of the property's value c...read more