Barney Fletcher Exam 4: 2024
Updated Questions with Verified
100% Correct Answers | Latest
Edition
B. conformity - which BEST describes the principle that a home maintains its
highest value in a neighborhood with similar homes and similar type housing?
A. substitution
B. conformity
C. highe...
Barney Fletcher Exam 4: 2024
Updated Questions with Verified
100% Correct Answers | Latest
Edition
B. conformity - ✔✔which BEST describes the principle that a home maintains its
highest value in a neighborhood with similar homes and similar type housing?
A. substitution
B. conformity
C. highest and best use
D. competition
B. projected net income - ✔✔If you took projected future costs from projected
future income, you would arrive at:
A. capitalization rate
B. projected net income
C. projected debt service
D. projected debt coverage
C. it was recorded - ✔✔A deed would be presumed to have been delivered upon
the happening of which of the following events?
A. it was subrogated
B. it was notarized
C. it was recorded
D. it was signed
B. periodic estate - ✔✔A farmer leased a property on an annual basis whereby
the farmer or the owner could terminate the lease by giving the other party 90
days notice. One half of the crop value would be the annual rent. This type of
lease would best be described as a:
, A. tenancy in common
B. periodic estate
C. tenancy for years
D. tenancy at will
B. providing liquidity to primary lenders - ✔✔In times of a tight money market
where the money supply is short, the secondary mortgage market helps first time
home buyers by:
A. lowering interest rates
B. providing liquidity to primary lenders
C. raising required ratios on qualifying
D. insisting on larger mortgage insurance premiums
A. Federal National Mortgage Association (FNMA) - ✔✔Which of the following
organizations is the largest purchaser of mortgages in the secondary mortgage
market?
A. Federal National Mortgage Association (FNMA)
B. Government National Mortgage Association (GNMA)
C. Federal Home Loan Mortgage Corporation (FHLMC)
D. Farmer's Home Administration (FMHA)
C. assumed loan - ✔✔An out of town buyer wanted to buy a home as soon as
possible and did not want to pay a loan origination fee. Which type loan would be
best?
A. conventional loan
B. FHA loan
C. assumed loan
D. PMI loan
B. a loan involving discount points - ✔✔A loan for which of the following would
NOT fall under Regulation Z?
A. residential home
B. a loan involving discount points
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