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ESCROW FINAL REVIEW QUESTIONS AND ANSWERS 100% PASS
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ESCROW FINAL REVIEW QUESTIONS AND ANSWERS 100% PASS 50 When a buyer assumes an existing loan, he or she signs: B. an assumption agreement with the lender. 51 If the buyer fails to perform in meeting the obligations under the loan the lender will probably file a: Notice of Default 52 A resident ca...

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  • January 27, 2023
  • 8
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • escrow final review questions and answers 100 pass
  • 50 when a buyer assumes an existing loan
  • he or she signs b an assumption agreement with the lender

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  • ESCROW
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ESCROW FINAL REVIEW QUESTIONS
AND ANSWERS 100% PASS
50 When a buyer assumes an existing loan, he or she signs: ✔✔B. an assumption agreement with

the lender.




51 If the buyer fails to perform in meeting the obligations under the loan the lender will probably

file a: ✔✔Notice of Default




52 A resident can be protected from judgment that become liens by the acknowledgment

recording ✔✔Declaration of homestead




53 Which of the following is a reference point in CA ✔✔All of the above.




54 The right of a landowner to use the water on, under, and adjacent to his or her land is known

as a ✔✔Riparian rights




55 The rights to use water is considered of such primary importance that ✔✔D. Both A & B

, 56 The determining factor in preparing a second deed of trust is the ✔✔B. Time of Recording.




57 On any note ✔✔D. All of The Above




58 The effective date for the insurance must be ✔✔D. Both B & C are correct.




59 On the settlement sheet, the cash deposited in escrow is ✔✔A. Credited to the buyer.




60 Most commonly, the motivating reason for real property exchange is ✔✔C. Tax consideration




61 Which of the following types of property are typically exchange ✔✔D. All of the above




62 An even exchange can be effected ✔✔B. Both A & B are correct




63 The money or other (not like-kind) property that is given to make up any difference in value

or equity between exchanged properties is called ✔✔B. Boot.

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