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REE 3043 EXAM 1 QUESTIONS WITH REVIEWED ANSWERS

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REE 3043 EXAM 1 QUESTIONS WITH REVIEWED ANSWERS Negative amortization - Answer-Occurs when the payment is not enough to even cover interest. Remaining interest is applied to principle causing loan balance to increase Mortgage payments - Answer-Cover PITI Principle, Interest, Taxes, insurance ...

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  • September 2, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ree 3043
  • ree 3043 exam 1 questions
  • negative amortization
  • ree 3043 exam 1 questions with reviewed answers

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  • REE 3043
  • REE 3043

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REE 3043 EXAM 1 QUESTIONS WITH
REVIEWED ANSWERS
Negative amortization - Answer-Occurs when the payment is not enough to even cover
interest. Remaining interest is applied to principle causing loan balance to increase

Mortgage payments - Answer-Cover PITI Principle, Interest, Taxes, insurance

Interest payments - Answer-Cover the cost of using money for the past

Market value - Answer-Probable selling price. You want this high

Investment value - Answer-How much an investor finds the property worth. You want
this high

Assessed value - Answer-Used by the property appraisers office for tax purposes. You
what this low

Insurable value - Answer-How much you will need to replace the entity

Appraisal Steps -D - Answer-Define the problem.

Appraisal Steps - G - Answer-Gather the data

Appraisal steps - A1 - Answer-Analyze the data

Appraisal Steps - A2 - Answer-Arrive at your conclusion

Appraisal steps - W - Answer-Write up conclusion

Depreciation - Answer-A reduction in the value of an asset over time

Functional Obsolescence - Answer-An older design and the building doesn't function in
such a way maintain value

Cost approach - Answer-Can you determine the cost to replace reproduce any type of
property

Fully Amortized Mortgage - Answer-Periodic payments that are sufficient enough to
cover the entirety of the loan and the entirety of the interest by the end of the term

Interest only loan - Answer-Making payments toward only the interest during the
duration of the loan. At the end the principal is paid as one payment.

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