Học Thi Real Estate License ở California: Introduction to Real Estate Finance

1. 

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

2. 

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

3. 

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

4. 

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

5. 

RESPA would apply to a:

6. 

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

7. 

Who would sign a request for reconveyance?

8. 

A loan amortization table would show:

9. 

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

10. 

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

11. 

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

12. 

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:

13. 

A basic difference between trust deeds and mortgages is:

14. 

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

15. 

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

16. 

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

17. 

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):

18. 

As to points, which of the following is true?

19. 

A mortgage and a trust deed are similar in that:

20. 

A trust deed would most likely be discounted by:

21. 

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

22. 

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

23. 

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:

24. 

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

25. 

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

26. 

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

27. 

An alienation clause in a trust deed prohibits:

28. 

A land contract clause prohibits any prepayment.

29. 

A blanket encumbrance would have the greatest benefit to the:

30. 

Ther person signing an assignment of a land contract is:

31. 

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

32. 

A disadvantage of a land contract to a buyer is:

33. 

A security agreement for personal property is filed with:

34. 

Equity financing refers to:

35. 

Which of the following are related to each other?

36. 

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

37. 

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

38. 

Consideration exists:

39. 

The  Truth in Leding Act is part of the:

40. 

Real estate used as security for a loan would be:

41. 

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

42. 

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

43. 

Secured collaterally refers to a:

44. 

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

45. 

The seller under a real property sales contract may not:

46. 

A mortgagee foreclosing would first:

47. 

A borrower makes $100 amortized loan payments.

48. 

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):

49. 

Proceeds from a trustee's sale go to:

50. 

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

51. 

By calling in a loan, the lender:

52. 

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

53. 

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

54. 

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:

55. 

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

56. 

Which party to a mortgage signs the note?

57. 

Under a deed of trust the:

58. 

Which of the following are synonymous?

59. 

A packaged mortgage is a loan in which:

60. 

A seasoned loan is:

61. 

A real property sales contract must show:

62. 

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

63. 

When buying a house, a person would not receive:

64. 

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

65. 

After the three-month notification of default:

66. 

Whihc law applies to federally related transactions?

67. 

A deficiency judgment is possible if there is:

68. 

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

69. 

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

70. 

A trust deed is a(n):

71. 

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

72. 

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

73. 

The nominal rate of interest would be:

74. 

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

75. 

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

76. 

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

77. 

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:

78. 

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

79. 

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

80. 

In periods of tight money:

81. 

Total foreclosure time under a trust deed most nearly approaches:

82. 

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

83. 

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

84. 

A prepayment penalty would be inconsistent with:

85. 

A release clause would most likely appear in:

86. 

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

87. 

A deed of reconveyance moves title from:

88. 

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:

89. 

A straight loan refers to:

90. 

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

91. 

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

92. 

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.

93. 

The beneficiary must give consent before the trustor can:

94. 

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

95. 

The collection of interest in advance is known as:

96. 

Deficiency judgments are not available to a foreclosing mortgagee if:

97. 

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

98. 

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

99. 

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

100. 

A trust deed would likely be in default when:

101. 

Naked legal title refers to a:

102. 

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

103. 

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

104. 

The Truth in Lending Law is enforced by the:

105. 

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

106. 

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

107. 

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

108. 

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

109. 

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

110. 

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

111. 

You would find a subordination clause in:

112. 

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

113. 

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

114. 

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

115. 

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

116. 

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

117. 

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

118. 

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

119. 

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

120. 

Inflation is best evidenced by a(n):

121. 

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

122. 

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

123. 

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:

124. 

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

125. 

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:

126. 

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

127. 

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

128. 

The unsury law for individuals does not apply when:

129. 

A trustor is to a beneficiary as:

130. 

To subordinate means:

131. 

The beneficiary of a trust deed is most likely a:

132. 

A land contract is most similar to a:

133. 

Janet assumes a trust deed from Bill.

134. 

To curb inflation, the government can:

135. 

A financing statement is removed from record by:

136. 

Interest paid on principal and interest is:

137. 

Real property would not be:

138. 

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

139. 

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

140. 

A trust deed is foreclosed by the:

141. 

A trustor under a trust deed:

142. 

Hypothecate means:

143. 

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?

144. 

Regarding financial institutions, deregulation means:

145. 

Discount points are:

146. 

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

147. 

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

148. 

A straight note would not be:

149. 

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

150. 

A mortgage would be released by:

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