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Champions Real Estate Finance Exam Questions and Answers 2023
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Champions Real Estate Finance ExamQuestions and Answers 2023
_____ is the consummation of a contractual real estate transaction in which
all appropriate documents are signed, and the mortgage loan proceeds are
disbursed by the lender. - -Closing
-The primary determinants of real estate values are supply and _____. - -
Demand
-_____ is something of value that can be pledged as security for repayment
of a loan. - -Collateral
-Servicing includes which of the following activities? - -Maintaining records
of payment
-The monetary policies of the _____affects interest rates and the availability
of funds. - -Federal Reserve
-An excess supply of money in the market results in monetary _____. - -
Inflation
-Which agency insures deposits in banks and thrift institutions for up to
$250,000? - -The Federal Deposit Insurance Corporation
-The _____ is the interest rate a reserve bank charges eligible financial
institutions to borrow funds on a short-term basis. - -Discount rate
-Raising taxes and increasing borrowing are two ways at the treasury level
to: - -Raise funds to pay for government spending
-The Fed uses three primary monetary policy tools to influence the cost and
availability of credit: open market operations, the discount rate, and _____. -
-Reserve requirements
-When the costs of production and services increase, causing manufacturing
prices to rise, it is called _____. - -Cost-push inflation
-Which of the following transactions is exempt from RESPA? - -Temporary
loans
-Under the _____, the use of certain terms in an advertisement triggers the
need for full disclosure of lending terms. - -Truth in Lending Act
, -The Dodd-Frank Wall Street Reform and Consumer Protection Act
established the _____. - -Consumer Financial Protection Bureau
-How can Sylvia ensure that Victor is properly licensed as an RMLO? - -She
can look him up in the NMLSR
-The secondary mortgage market was designed to provide greater liquidity
to the residential real estate market, primarily by _____. - -The sale of
mortgage loans as investments
-Loans originated to adhere to Fannie Mae, Freddie Mac, and Ginnie Mae
requirements for purchase are called _____. - -Conforming loans
-Which of the following housing objectives does Fannie Mae address? - -
Regional imbalances of available mortgage credit, The origination of
mortgages for sale, The standardization of mortgage loans
-A _____ lender is one who funds mortgage loans from deposits on hand,
retaining the loans long term. - -Portfolio
-is a government-sponsored enterprise with the mission of providing a
secondary market for agricultural real estate mortgage loans, rural housing
mortgage loans, and rural utility cooperative loans. - -Farmer Mac
-The secondary market provides greater _____ to the residential real estate
market by providing a steady supply of funds from investors. - -Liquidity
-Fannie Mae operates with _____ to enhance the flow of funds through the
secondary market to home buyers. - -Private capital
-The two largest issuers of Real Estate Mortgage Investment Conduits are
_____ and _____. - -Fannie Mae and Freddie Mac
-Which of the following statements is INCORRECT? - -Ginnie Mae sells
mortgage-backed securities and purchases mortgage loans.
-- -
-A(n) _____ is a person, corporation, or firm not otherwise in banking that
provides its own funds for mortgage financing purposes. - -Mortgage banker
-Which act increased the insurance coverage on all federally insured credit
union accounts up to $250,000? - -Dodd-Frank Wall Street Reform Act
-What type of property might an Equity Estate REIT purchase - -Office
buildings, apartments, self storage
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