100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Bob Brooks National Finance Exam Questions With Verified Answers Latest Updated 2024 $10.19   Add to cart
Quickly navigate to
Preview
  2.  
  3. Bob Brooks National Finance
  4.  
  5. Bob Brooks National Finance

Exam (elaborations)

Bob Brooks National Finance Exam Questions With Verified Answers Latest Updated 2024
 6 views  0 purchase
  • Course
  • Bob Brooks National Finance
  • Institution
  • Bob Brooks National Finance

A technique for using net income to derive a property's valuation is: Select one: a. Appreciation b. Capitalization Rate c. Cost Approach d. Valued Percentage - ANSWER-b. Capitalization Rate Truth in Lending Laws applies to which of the following? Select one: a. A loan to purchase a singl...

[Show more]

Preview 2 out of 8  pages

Document information

  • March 26, 2024
  • 8
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • bob brooks national finance exam questions with ve
  • bob brooks national finance exam questions stuvia
  • the person acting as the intermediary for a loan o

Written for

  • Bob Brooks National Finance
  • Bob Brooks National Finance

Seller

avatar-seller
IMORA

Reviews received

Content preview

Bob Brooks National Finance Exam
Questions With Verified Answers
Latest Updated 2024

The person acting as the intermediary for a loan on a house would be the:
Select one:
a. Mortgage banker
b. Real estate broker
c. Mortgage broker
d. Fannie Mae - ANSWER-a. Mortgage banker

A technique for using net income to derive a property's valuation is:
Select one:
a. Appreciation
b. Capitalization Rate
c. Cost Approach
d. Valued Percentage - ANSWER-b. Capitalization Rate

Truth in Lending Laws applies to which of the following?
Select one:
a. A loan to purchase a single family home.
b. Commercial loans
c. A loan to purchase a 126 unit apartment building.
d. A purchase money mortgage. - ANSWER-a. A loan to purchase a single family
home.

Charging a higher interest rate than the law allows is called:
Select one:
a. Usury
b. Finance
c. Mortgage
d. Equity - ANSWER-a. Usury

A "partnership in commendam" is also known as:
Select one:
a. A general partnership
b. A limited partnership
c. A specific partnership
d. A limited liability company - ANSWER-b. A limited partnership

A bank demands full payment on the mortgage because the house was sold. This
was because of the:
Select one:
a. Defeasance clause

, b. Novation clause
c. Subordination clause
d. Alienation clause - ANSWER-d. Alienation clause

Prepayment penalties are common on many loans. Which of the following is true
regarding prepayment penalties?
Select one:
a. FHA & VA loans have no prepayment penalties
b. Conventional loans have no prepayment penalty
c. Prepayment penalties are 5% of the loan amount if the loan is paid the first year.
d. There is no such thing as a prepayment penalty - ANSWER-a. FHA & VA loans
have no prepayment penalties

Under ECOA rules, a borrower is less likely to be approved for a loan if their income
is from:
Select one:
a. Child support
b. Commissions
c. Alimony
d. Public assistance - ANSWER-b. Commissions

Truth in Lending laws define APR as:
Select one:
a. Note rate plus cost of credit.
b. Cost of credit plus attorneys fees.
c. Cost of credit plus points.
d. Note rate alone. - ANSWER-a. Note rate plus cost of credit.

The disadvantage of graduated payment mortgages for 1st time home buyers is:
Select one:
a. Interest only at first then one large balloon payment at the end.
b. Small down payment
c. Low monthly payments
d. Smaller payments at first then larger payments later. - ANSWER-d. Smaller
payments at first then larger payments later.

The percentage borrowed in relation to the appraised price would be the:
Select one:
a. Equity rate
b. Loan to value ratio
c. Assessment rate
d. None of the above. - ANSWER-b. Loan to value ratio

The advantage of a partially amortized loan with a balloon is:
Select one:
a. Lower payment
b. Longer payments
c. Lower loan balance
d. The final payment is smaller. - ANSWER-a. Lower payment

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller IMORA. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.19. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73314 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.19
  • (0)
  Add to cart