100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
STATE (Nebraska) Real Estate Practice Exam 1 Questions With Complete Solutions CA$16.45   Add to cart

Exam (elaborations)

STATE (Nebraska) Real Estate Practice Exam 1 Questions With Complete Solutions

 2 views  0 purchase

STATE (Nebraska) Real Estate Practice Exam 1 Questions With Complete Solutions

Preview 2 out of 12  pages

  • October 2, 2023
  • 12
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (1946)
avatar-seller
Classroom
STATE (Nebraska) Real Estate Practice Exam 1
Questions With Complete Solutions

Restrictive Covenants correct answer: prohibit all future owners
from certain actions or modifications of their property and
placed by private parties, consistency and desirability of a
neighborhood

Closing Disclosure, a statement of actual charges and
adjustments, to the borrower by the lender correct answer: The
TRID form, TILA-RESPA

escrow accounts that accumulate funds from closing costs and
monthly payments to ensure that property taxes and
homeowner's insurance are kept current are called what? correct
answer: impound accounts

Options are generally concerned with only two things: correct
answer: time and price

When can a landlord evict a disabled blind or disabled tenant
from the premises? If the tenant has... correct answer: loud
parties, makes too much noise, and is consistently disturbing
other tenants

When does a listing contract expire? At... correct answer: At
closing (upon expiration of the contract date)

mortgage broker arranges... correct answer: arranges loans
between borrowers and investors

, One discount point from federal VA or FHA loan is correct
answer: 1% of the loan amount

An increase in the availability of money would increase or
decrease interest rates? correct answer: decrease

What does amortization mean? To... correct answer: reduce or
pay off (a debt) with regular payments.

a balloon payment correct answer: a final loan payment that is
much larger than the regular monthly payments

In an installment land contract, what type of title did the seller
retain? correct answer: Legal

Second Mortgage correct answer: holds a higher rate of interest

what happens in a second mortgage... interest rate, risk and
exposure correct answer: high interest, high risk and added
exposure for lender, they are 2nd in line after the 1st mortgage
holder. in case of foreclosure, that means the first mortgage
holder is paid in full before any money comes out.

Urury is what type of interest correct answer: rates above the
interest rate ceiling (illegal interest, loan sharks)

A borrower bought a $174,000 house with no down payment.
The loan was probably correct answer: VA Loan (zero-down
instruments, while FHA loans permit low down payments in the
5% range.

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 Classroom. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$16.45. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79271 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
CA$16.45
  • (0)
  Add to cart