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

1. 
A trustor is to a beneficiary as:
2. 
Which of the following clauses can be disregarded by a trustor?


3. 
Article 5 of the Real Estate Law does not apply to:
4. 
During the one year redemption period of a mortgagor in default:
5. 
The longer the loan (all other things being equal):


6. 
The power of sale in a trust deed would be given by:
7. 
Selling a home under an existing blanket trust deed requires that the trustee give a(n):


8. 
A lender was required to contact a borrower 30 days prior to a notice of default. This notification was to:
9. 
A holder of a second trust deed reveives notification of default on the first trust deed. He or she would probably:


10. 
Balloon payments are not allowed for an owner-occupied residence under Article 7:
11. 
A security agreement for personal property is filed with:
12. 
A land contract clause prohibits any prepayment.


13. 
A real estate broker made a home loan at 30 percent interest. The broker:


14. 
A trust deed is a(n):
15. 
Ther person signing an assignment of a land contract is:
16. 
A right of possession and equitable title would be held by the:


17. 
Regarding financial institutions, deregulation means:


18. 
A straight loan refers to:


19. 
Real estate used as security for a loan would be:


20. 
A land contract is most similar to a:


21. 
A basic difference between trust deeds and mortgages is:


22. 
Real property would not be:


23. 
When buying a house, a person would not receive:


24. 
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:


25. 
For a trust deed to be negotiable, it must be:


26. 
The payments of the buyer under a land contract include taxes and insurance. The seller:
27. 
As to trust deeds, which of the following is false?
28. 
A loan that would appeal most to a young person whose income is starting to increase would be:


29. 
Large payments to a builder as work progresses would most likely be:


30. 
A broker negotiated a three-year second trust deed for $20,000. He charged a $2,000 fee. The fee is:


31. 
As to points, which of the following is true?
32. 
The person who would wish to record a land contract would be the:


33. 
A beneficiary sells a note secured by a trust deed. The beneficiary must:


34. 
In periods of tight money:


35. 
To curb inflation, the government can:


36. 
A request for notification of default would be most desired by the:


37. 
A deficiency judgment is possible if there is:
38. 
Which of the following is not an element of a mortgage?


39. 
A broker advertised the APR, but did not include any other financing terms. Was the ad proper?


40. 
As to loan brokers, which of the following is true?
41. 
The prepayment penalty on a pay off for a three-year-old conventional residential loan would be based on the:
42. 
A financing statement is removed from record by:


43. 
Which of the following are synonymous?


44. 
To subordinate means:


45. 
A broker is the owner of the escrow company that handles most of the office business. As to the escrow company:
46. 
When interest rates are high, banks increase points on some loans to:


47. 
A trust deed foreclosed as a mortgage would be foreclosed by:


48. 
Janet assumes a trust deed from Bill.
49. 
Promotional notes, as used in real property securities, do not include a note that has term of:


50. 
A trust deed would likely be in default when:
51. 
Truth in Lending disclosure when advertising a graduated payment loan would require the:
52. 
The Truth in Lending Law is enforced by the:
53. 
A borrower makes $100 amortized loan payments.


54. 
A blanket encumbrance would have the greatest benefit to the:


55. 
Warehousing is becoming extremely important in the field of finance. It refers to:


56. 
Which party to a mortgage signs the note?


57. 
An adjustable-rate loan is pegged at an interest rate above a loan index. This increase above the index is knows as the:
58. 
RESPA would apply to a:


59. 
The beneficiary of a trust deed is most likely a:


60. 
Proceeds from a trustee's sale go to:
61. 
In the absence of any other economic changes, raising the points to be paid on a loan should:


62. 
The vendor-vendee relatioship under a land contract is most similar to the relationship:


63. 
An endorsement on a note said "without recourse." What kind of endorsement is it?
64. 
A release clause would most likely appear in:


65. 
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:


66. 
Who would most likely benefit by a subordination clause in a trust deed?


67. 
A packaged mortgage is a loan in which:
68. 
Who would sign a request for reconveyance?


69. 
You would find a subordination clause in:


70. 
A second trust deed can be distinguished from a first trust deed by:
71. 
The disclosure statement required under the Truth-in-Lending Law is most similar to:


72. 
A prepayment penalty would be inconsistent with:


73. 
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:
74. 
Upon default of a buyer on land contract, the seller would:
75. 
Secured collaterally refers to a:


76. 
A trustor under a trust deed:


77. 
Consideration exists:


78. 
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:


79. 
A broker has a written agreemnet giving you 60 days to arrange a loan for $1,200.


80. 
Equity financing refers to:


81. 
As to beneficiary statements, which of the following is true?
82. 
The Real Estate Settlement Procedures Act provides for violation penalties of:
83. 
Which gives the most protection to a property owner in default?


84. 
A deed of reconveyance moves title from:
85. 
The Federal Reserve Board wants to tighten the money supply. What action might it take?


86. 
A RESPA disclosure statement would least likely be required for a loan made:


87. 
A seasoned loan is:


88. 
The unsury law for individuals does not apply when:


89. 
Which of the following is not required when a trust deed is paid up?


90. 
By calling in a loan, the lender:


91. 
To be relieved of the primary responsibility of a loan, a seller must find a buyer:


92. 
A lender, in evaluating a prospective loan, should not consider:
93. 
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.


94. 
Naked legal title refers to a:


95. 
Discount points are:


96. 
Beth, a licensee, sells a real property sales contract for Ricardo, the vendor. Beth is responsible for making certain the contract is recorded:
97. 
The collection of interest in advance is known as:


98. 
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?


99. 
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:


100. 
A trust deed would most likely be discounted by:


101. 
A trust deed is foreclosed by the:


102. 
Hypothecate means:


103. 
A real property sales contract must show:
104. 
A mortgage would be released by:


105. 
What is the highest commission a broker can charge in negotiating an $8,000 first trust deed for 2 1/2 years?


106. 
Which of the following are related to each other?


107. 
The right of rescission under Truth in Lending would apply to a(n):


108. 
Inflation is best evidenced by a(n):
109. 
The instrument that is least likely to be recorded is the:


110. 
The seller under a real property sales contract may not:


111. 
A disadvantage of a land contract to a buyer is:
112. 
An alienation clause in a trust deed prohibits:


113. 
Upon payment of a trust deed in full and on demand of the trustor, the trustee must give a deed of reconveyance:


114. 
Loan payments based on a 20-year amortization schedule also require that the loan be paid in full within 10 years.


115. 
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):
116. 
An individual working for a bank is paid for every real estate loan she arranges. She must:


117. 
Deficiency judgments are not available to a foreclosing mortgagee if:
118. 
Making biweekly payments on a mortgage of one-half the monthly payment will result in:
119. 
Interest paid on principal and interest is:


120. 
If two lenders share in different portions of the same loan, the loan would be a:


121. 
A loan amortization table would show:
122. 
A statement that says "In the event of sale, the entire balance is due and payable" would be:


123. 
A mortgage and a trust deed are similar in that:


124. 
As to real property sales contracts for land or one to four residential units, which of the following is true?
125. 
When monthly amortized mortgage payments are equal, the interest charged is:


126. 
A borrower receives a monthly check from the lender. This is most likely a(n):
127. 
A clause in a trust deed calling for assignment of rents most likely would benefit the:
128. 
A recorded trust deed referred to in other trust deeds is most likely:


129. 
The basic obligation of a real estate loan in California is evidenced by:


130. 
The  Truth in Leding Act is part of the:
131. 
A broker's commission for negotiating a loan is not subject to Article 7 limitation if the loan is:


132. 
A straight note would not be:


133. 
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:
134. 
Total foreclosure time under a trust deed most nearly approaches:


135. 
The beneficiary must give consent before the trustor can:


136. 
The release clause in a trust deed requires payments higher than they should be considerin the value of the property released. Why?
137. 
In a sale transaction, which party is most likely responsible for a prepayment penalty?
138. 
After the three-month notification of default:
139. 
When a vendee under a land contrac defaults, the vendor to clear title would commence a:
140. 
The advantages to a borrower of a biweekly mortgage payment over a monthly payment include:
141. 
Whihc law applies to federally related transactions?
142. 
Under a deed of trust the:
143. 
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:
144. 
The nominal rate of interest would be:
145. 
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):
146. 
In a subdivision, the largest number of properties that can be covered by a trust deed without a blanket encumbrance is:
147. 
On an amortized loan, each payment would differ from the previous payment in that:
148. 
When the vendor and vendee sign a real property sales contract:


149. 
A mortgage Loan Disclosure Statement is for the protection of the:


150. 
A mortgagee foreclosing would first:


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