sheet or notes . II . Detailed information about financial assets that have been securitized and sold .
Question 7
Servco , a loan servicing agency , paid $ 60,000 to acquire a three-year right to service $ 1,000,000 of Banco ' s loans . Servco will be entitled to a servicing fee of 1 % of the interest and fees collected during the three-year period . Servco expects its servicing fees to be : Which one of the following is the amount of the $ 60,000 acquisition fee that Servco should amortize during year 1 ?
Question 8
Which of the following , if any , can be the risk being hedged in a foreign currency hedge ?
Question 9 A derivative financial instrument is best described as : Question 10
Which of the following conditions must be met for derecognition of a transferred financial asset to occur under IFRS ? I . The financial asset has been transferred outside the consolidated group of the transferor . II . The transferor has transferred substantially all of the risks and rewards of ownership of the financial asset . III . The contractual rights to the financial assets cash flows cannot be retained by the transferor , but must be transferred to the transferee .