Introduction to Real Estate Finance

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RAO VẶT BUÔN BÁN NHÀ CỬARAO VẶT LITTLE SAIGON

 

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

1. 

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

2. 

An alienation clause in a trust deed prohibits:

3. 

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

4. 

A prepayment penalty would be inconsistent with:

5. 

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

6. 

When buying a house, a person would not receive:

7. 

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

8. 

A seasoned loan is:

9. 

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

10. 

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

11. 

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

12. 

In periods of tight money:

13. 

A release clause would most likely appear in:

14. 

Inflation is best evidenced by a(n):

15. 

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

16. 

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

17. 

To curb inflation, the government can:

18. 

As to points, which of the following is true?

19. 

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

20. 

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

21. 

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

22. 

A trust deed would most likely be discounted by:

23. 

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

24. 

After the three-month notification of default:

25. 

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

26. 

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

27. 

Which party to a mortgage signs the note?

28. 

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

29. 

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

30. 

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:

31. 

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

32. 

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

33. 

The unsury law for individuals does not apply when:

34. 

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

35. 

A trust deed is a(n):

36. 

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

37. 

Who would sign a request for reconveyance?

38. 

By calling in a loan, the lender:

39. 

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

40. 

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

41. 

Ther person signing an assignment of a land contract is:

42. 

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?

43. 

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

44. 

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

45. 

A trustor under a trust deed:

46. 

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.

47. 

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

48. 

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

49. 

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

50. 

A real property sales contract must show:

51. 

Which of the following are synonymous?

52. 

Under a deed of trust the:

53. 

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

54. 

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

55. 

The nominal rate of interest would be:

56. 

A security agreement for personal property is filed with:

57. 

A blanket encumbrance would have the greatest benefit to the:

58. 

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

59. 

Janet assumes a trust deed from Bill.

60. 

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

61. 

A land contract clause prohibits any prepayment.

62. 

Naked legal title refers to a:

63. 

The beneficiary of a trust deed is most likely a:

64. 

Real property would not be:

65. 

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

66. 

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:

67. 

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

68. 

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

69. 

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

70. 

A mortgagee foreclosing would first:

71. 

A straight loan refers to:

72. 

Discount points are:

73. 

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

74. 

Interest paid on principal and interest is:

75. 

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

76. 

You would find a subordination clause in:

77. 

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

78. 

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

79. 

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

80. 

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

81. 

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

82. 

The collection of interest in advance is known as:

83. 

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

84. 

The Truth in Lending Law is enforced by the:

85. 

Whihc law applies to federally related transactions?

86. 

A trustor is to a beneficiary as:

87. 

Hypothecate means:

88. 

The  Truth in Leding Act is part of the:

89. 

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

90. 

Real estate used as security for a loan would be:

91. 

A deficiency judgment is possible if there is:

92. 

Secured collaterally refers to a:

93. 

A mortgage would be released by:

94. 

RESPA would apply to a:

95. 

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

96. 

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

97. 

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):

98. 

A land contract is most similar to a:

99. 

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

100. 

Equity financing refers to:

101. 

A financing statement is removed from record by:

102. 

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

103. 

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

104. 

A deed of reconveyance moves title from:

105. 

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

106. 

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

107. 

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

108. 

A packaged mortgage is a loan in which:

109. 

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:

110. 

Which of the following are related to each other?

111. 

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

112. 

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

113. 

A borrower makes $100 amortized loan payments.

114. 

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:

115. 

A straight note would not be:

116. 

A loan amortization table would show:

117. 

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

118. 

A mortgage and a trust deed are similar in that:

119. 

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

120. 

Deficiency judgments are not available to a foreclosing mortgagee if:

121. 

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

122. 

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

123. 

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

124. 

A disadvantage of a land contract to a buyer is:

125. 

A trust deed is foreclosed by the:

126. 

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):

127. 

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

128. 

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

129. 

Regarding financial institutions, deregulation means:

130. 

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:

131. 

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

132. 

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

133. 

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:

134. 

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

135. 

Total foreclosure time under a trust deed most nearly approaches:

136. 

A basic difference between trust deeds and mortgages is:

137. 

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

138. 

Proceeds from a trustee's sale go to:

139. 

A trust deed would likely be in default when:

140. 

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

141. 

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

142. 

The beneficiary must give consent before the trustor can:

143. 

The seller under a real property sales contract may not:

144. 

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:

145. 

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

146. 

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

147. 

To subordinate means:

148. 

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

149. 

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

150. 

Consideration exists: