Introduction to Real Estate Finance

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RAO VẶT BUÔN BÁN NHÀ CỬARAO VẶT LITTLE SAIGON

 

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NGƯỜI VIỆT RAO VẶT MIỄN PHÍCHO THUÊ NHÀ, PHÒNG

Bạn có thể bắt đầu thi lý thuyết trắc nghiệm real estate salesperson:

1. 

Interest paid on principal and interest is:



2. 

Whihc law applies to federally related transactions?

3. 

To be relieved of the primary responsibility of a loan, a seller must find a buyer:



4. 

Balloon payments are not allowed for an owner-occupied residence under Article 7:

5. 

The beneficiary must give consent before the trustor can:



6. 

A trustor is to a beneficiary as:

7. 

An adjustable-rate mortgage has an index that has risen from 4.5 percent to 11 percent with a margin of 2.5 percent, but the bank is charging only 12 percent interest on the loan. This lower interest is due to:



8. 

An alienation clause in a trust deed prohibits:



9. 

A borrower receives a monthly check from the lender. This is most likely a(n):

10. 

A basic difference between trust deeds and mortgages is:



11. 

A clause in a trust deed calling for assignment of rents most likely would benefit the:

12. 

A request for notification of default would be most desired by the:



13. 

A borrower has a loan where the borrower can make monthly payments less than the interest that is accruing. This would be regarded as a(n):

14. 

When interest rates are high, banks increase points on some loans to:



15. 

Janet assumes a trust deed from Bill.

16. 

A mortgage and a trust deed are similar in that:



17. 

A land contract clause prohibits any prepayment.



18. 

The seller under a real property sales contract may not:



19. 

For a trust deed to be negotiable, it must be:



20. 

A trust deed note showed zero interest. The IRS held that the beneficiary should pay taxes as if a reasonable rate of interest had been received. This rate set by the IRS is known as:

21. 

An endorsement on a note said "without recourse." What kind of endorsement is it?

22. 

A loan amortization table would show:

23. 

In periods of tight money:



24. 

A broker negotiated a three-year second trust deed for $20,000. He charged a $2,000 fee. The fee is:



25. 

As to beneficiary statements, which of the following is true?

26. 

Article 5 of the Real Estate Law does not apply to:

27. 

Points go up when the going interest rate increases above a fixed lending rate. Assume that each percentage point increase in the lending rate equals 6 points. An interest rate increase from 7 1/4 percent to 8 percent would result in what decrease of points?



28. 

An individual working for a bank is paid for every real estate loan she arranges. She must:



29. 

The release clause in a trust deed requires payments higher than they should be considerin the value of the property released. Why?

30. 

When a vendee under a land contrac defaults, the vendor to clear title would commence a:

31. 

To subordinate means:



32. 

A right of possession and equitable title would be held by the:



33. 

The longer the loan (all other things being equal):



34. 

The  Truth in Leding Act is part of the:

35. 

Deficiency judgments are not available to a foreclosing mortgagee if:

36. 

Selling a home under an existing blanket trust deed requires that the trustee give a(n):



37. 

A trustor under a trust deed:



38. 

A lender advanced credit to a consumer and took a lien on the consumer's home even though the cosumer didn't have sufficient income to pay the debt. This is an example of:

39. 

A land contract is most similar to a:



40. 

Making biweekly payments on a mortgage of one-half the monthly payment will result in:

41. 

A straight loan refers to:



42. 

A second trust deed can be distinguished from a first trust deed by:

43. 

RESPA would apply to a:



44. 

The vendor-vendee relatioship under a land contract is most similar to the relationship:



45. 

The basic obligation of a real estate loan in California is evidenced by:



46. 

Hypothecate means:



47. 

A recorded trust deed referred to in other trust deeds is most likely:



48. 

A broker is the owner of the escrow company that handles most of the office business. As to the escrow company:

49. 

In a subdivision, the largest number of properties that can be covered by a trust deed without a blanket encumbrance is:

50. 

A buyer purchases a $10,000 trust deed for $6,400. The trustor defaults. The most that the buyer of the trust deed can recover at the trustee's sale is:



51. 

A seasoned loan is:



52. 

Which of the following is not an element of a mortgage?



53. 

The right of rescission under Truth in Lending would apply to a(n):



54. 

During the one year redemption period of a mortgagor in default:

55. 

A beneficiary sells a note secured by a trust deed. The beneficiary must:



56. 

A borrower makes $100 amortized loan payments.



57. 

A release clause would most likely appear in:



58. 

After the three-month notification of default:

59. 

To curb inflation, the government can:



60. 

The prepayment penalty on a pay off for a three-year-old conventional residential loan would be based on the:

61. 

A packaged mortgage is a loan in which:

62. 

Real estate used as security for a loan would be:



63. 

What is the highest commission a broker can charge in negotiating an $8,000 first trust deed for 2 1/2 years?



64. 

A real property sales contract must show:

65. 

A lender was required to contact a borrower 30 days prior to a notice of default. This notification was to:

66. 

A mortgagee foreclosing would first:



67. 

A lender, in evaluating a prospective loan, should not consider:

68. 

The Real Estate Settlement Procedures Act provides for violation penalties of:

69. 

Inflation is best evidenced by a(n):

70. 

Real property would not be:



71. 

Which of the following is not required when a trust deed is paid up?



72. 

You would find a subordination clause in:



73. 

Under a deed of trust the:

74. 

A deed of reconveyance moves title from:

75. 

A statement that says "In the event of sale, the entire balance is due and payable" would be:



76. 

Upon payment of a trust deed in full and on demand of the trustor, the trustee must give a deed of reconveyance:



77. 

Warehousing is becoming extremely important in the field of finance. It refers to:



78. 

A trust deed is foreclosed by the:



79. 

A clause in a trust deed that allows a trustor to refinance another trust deed without relegating it to a junior priority is a(n):

80. 

Which of the following are related to each other?



81. 

A disadvantage of a land contract to a buyer is:

82. 

The Federal Reserve Board wants to tighten the money supply. What action might it take?



83. 

A mortgage would be released by:



84. 

To pay for an operation, a man obtains a first trust deed on his house. One day after completion of the loan, he wishes to rescind the transaction.



85. 

Promotional notes, as used in real property securities, do not include a note that has term of:



86. 

Beth, a licensee, sells a real property sales contract for Ricardo, the vendor. Beth is responsible for making certain the contract is recorded:

87. 

Consideration exists:



88. 

Total foreclosure time under a trust deed most nearly approaches:



89. 

The unsury law for individuals does not apply when:



90. 

Which gives the most protection to a property owner in default?



91. 

A holder of a second trust deed reveives notification of default on the first trust deed. He or she would probably:



92. 

Large payments to a builder as work progresses would most likely be:



93. 

Naked legal title refers to a:



94. 

When the vendor and vendee sign a real property sales contract:



95. 

Upon default of a buyer on land contract, the seller would:

96. 

Ther person signing an assignment of a land contract is:

97. 

As to real property sales contracts for land or one to four residential units, which of the following is true?

98. 

A broker has a written agreemnet giving you 60 days to arrange a loan for $1,200.



99. 

A loan that would appeal most to a young person whose income is starting to increase would be:



100. 

A lender made a loan secured by borrower's home without regard to the borrower's ability to make the payments. This would be regarded as:

101. 

A financing statement is removed from record by:



102. 

The collection of interest in advance is known as:



103. 

A straight note would not be:



104. 

A broker's commission for negotiating a loan is not subject to Article 7 limitation if the loan is:



105. 

In the absence of any other economic changes, raising the points to be paid on a loan should:



106. 

The advantages to a borrower of a biweekly mortgage payment over a monthly payment include:

107. 

A RESPA disclosure statement would least likely be required for a loan made:



108. 

On an amortized loan, each payment would differ from the previous payment in that:

109. 

When monthly amortized mortgage payments are equal, the interest charged is:



110. 

A deficiency judgment is possible if there is:

111. 

The beneficiary of a trust deed is most likely a:



112. 

When buying a house, a person would not receive:



113. 

The instrument that is least likely to be recorded is the:



114. 

Loan payments based on a 20-year amortization schedule also require that the loan be paid in full within 10 years.



115. 

A trust deed foreclosed as a mortgage would be foreclosed by:



116. 

Which of the following clauses can be disregarded by a trustor?



117. 

A prepayment penalty would be inconsistent with:



118. 

Which of the following are synonymous?



119. 

A security agreement for personal property is filed with:

120. 

An introductory rate of interest is 3.25 percent less than the index rate of 4.25 percent and the 2.25 percent margin would set the introductory rate at:



121. 

An adjustable-rate loan is pegged at an interest rate above a loan index. This increase above the index is knows as the:

122. 

As to loan brokers, which of the following is true?

123. 

Equity financing refers to:



124. 

The disclosure statement required under the Truth-in-Lending Law is most similar to:



125. 

The Truth in Lending Law is enforced by the:

126. 

A loan's index rate is now at 5  1/4 percent. If the margin is 2.4 percent, the loan's interest should be:



127. 

A real estate broker made a home loan at 30 percent interest. The broker:



128. 

A mortgage Loan Disclosure Statement is for the protection of the:



129. 

As to trust deeds, which of the following is false?

130. 

A trust deed would likely be in default when:

131. 

A trust deed would most likely be discounted by:



132. 

By calling in a loan, the lender:



133. 

In a sale transaction, which party is most likely responsible for a prepayment penalty?

134. 

The person who would wish to record a land contract would be the:



135. 

The nominal rate of interest would be:

136. 

Proceeds from a trustee's sale go to:

137. 

If two lenders share in different portions of the same loan, the loan would be a:



138. 

Secured collaterally refers to a:



139. 

A blanket encumbrance would have the greatest benefit to the:



140. 

Regarding financial institutions, deregulation means:



141. 

Who would sign a request for reconveyance?



142. 

Which party to a mortgage signs the note?



143. 

The power of sale in a trust deed would be given by:

144. 

Discount points are:



145. 

Truth in Lending disclosure when advertising a graduated payment loan would require the:

146. 

Who would most likely benefit by a subordination clause in a trust deed?



147. 

A broker advertised the APR, but did not include any other financing terms. Was the ad proper?



148. 

As to points, which of the following is true?

149. 

A trust deed is a(n):

150. 

The payments of the buyer under a land contract include taxes and insurance. The seller: