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Real Estate Finance Final Exam (California Real Estate Finance Final Exam A 6th edition)
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Real Estate Finance Final Exam(California Real Estate Finance Final
Exam A 6th edition)
Usury is:
a. an interest payment in excess of the legally permitted rate.
b. a medieval form of slavery.
c. a person who has a financial trust.
d. none of the above. Correct Ans - an interest payment in excess of the
legally permitted rate.
The Federal Reserve is empowered to:
a. set reserve requirements.
b. oversee Regulation Z.
c. control open market operations.
d. all of the above. Correct Ans - all of the above.
An underwriter:
a. is an insurance agent.
b. is a federal reserve board official.
c. makes an assessment of loan risk.
d. none of the above. Correct Ans - makes an assessment of loan risk.
An estate that is limited to the lifetime of the owner is called a:
a. fee simple estate.
b. leased fee estate.
c. leasehold estate.
d. life estate. Correct Ans - life estate.
The first central bank in the United States was the:
a. Bank of the United States.
,b. Federal Reserve.
c. Bank of New England.
d. Subtreasury. Correct Ans - Bank of the United States.
Minimum capitalization and reserves for any bank that applied for a National
Bank Charter was originally set by:
a. The Wildcat Era Act of 1763.
b. The National Bank Act of 1963.
c. The National Bank Act of 1863.
d. all of the above. Correct Ans - The National Bank Act of 1863.
The London Goldsmiths:
a. developed deposit banking.
b. developed bearer notes.
c. made loans from their clients' money.
d. all of the above. Correct Ans - all of the above.
The prime rate is:
a. a bank's lowest rate to its best customers.
b. based on a customer's average daily balance.
c. given only to bank employees.
d. none of the above. Correct Ans - a bank's lowest rate to its best
customers.
Open market operations are:
a. carried out by the U.S. Treasury.
b. sales and purchases of U.S. Treasury Bonds by the Federal Reserve.
c. directed by the President of the U.S.
d. none of the above. Correct Ans - sales and purchases of U.S.
Treasury Bonds by the Federal Reserve.
A stock certificate is:
a. a loan document.
b. an ownership interest document.
, c. a legal tender form of money.
d. none of the above. Correct Ans - an ownership interest document.
A bond is:
a. a tax lien.
b. an ownership document.
c. a form of usury.
d. a debt instrument. Correct Ans - a debt instrument.
In a seller's market:
a. supply exceeds demand.
b. demand exceeds supply.
c. home prices decline.
d. none of the above. Correct Ans - demand exceeds supply.
Predatory loan practices include:
a. fraud.
b. usury.
c. deception.
d. all of the above. Correct Ans - all of the above.
The primary market is made up of:
a. first-time homebuyers.
b. federal agencies.
c. local lending institutions.
d. none of the above. Correct Ans - local lending institutions.
FHLMC (Freddie Mac) is an example of:
a. a secondary market participant.
b. a primary market only participant.
c. a federal agency lender open only to veterans.
d. none of the above. Correct Ans - a secondary market participant.
Traditional savings and loans:
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