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Real Estate Finance Final Exam: Questions & Answers
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Real Estate Finance Final Exam: Questions & Answers
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Real Estate Finance Final Exam:Questions & Answers
personal property that is often included with real estate is called Correct
Ans - chattel
a fuidciary relationship is Correct Ans - a personal with a relationship
of finanical trust, a special agency reglationship
The federal reserve is empowered to Correct Ans - Set, oversee and
contraol
an estates that remains for the life of the estate is the Correct Ans - life
estate
the first bank was Correct Ans - the bank of the united states
The federal reserve system overseend by Correct Ans - Board of
Governors
The highest form of possessory interest Correct Ans - Fee simple
estate
legal power to print money is Correct Ans - power of currency
prime rate Correct Ans - given to best csutomers
impact fees Correct Ans - regulation levied on new housing projects
A grant deed implies Correct Ans - an implied warranty
on a promissory note the borrower is the Correct Ans - maker or
payor or obligor
who is the owner of the deed of trust? Correct Ans - Trustor
, in california what is the most often form of deed Correct Ans - Trustee
sale
Regulzation B made it illegal to Correct Ans - discriminate by intent
practice or by effect
Regultion Z Correct Ans - disclure, recession or
of the three which is a govenrmental agency Correct Ans - GNMA
Portfolio Loan Correct Ans - held by the lender and not sold
FIRREA is Correct Ans - Financial institutions Reform, Recovery and
Enforcement Act which governs all federally related transactions
FIRREA Correct Ans - protects all of the the above
Pension plans are proected by Correct Ans - ERISA
Insurance companies Correct Ans - lower for cost
stock certificate is Correct Ans - ownership document
Primary market Correct Ans - are local lending instutituions
FNMA Correct Ans - Fannie Mae
FHLMC Correct Ans - Freddie Mac
GNMA Correct Ans - Ginne Mae
fannnie mae and freedie mac Correct Ans - are government sponsored
enterprises
When the demand for housing increases Correct Ans - prices increase
Predatory loan practices include Correct Ans - usury, deception and
fraud
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