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Finance 3713 Final, FIN 3713 Exam 3, Financial Accounting Final Exam Questions and Complete Solutions Graded A+
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Finance 3713 Final, FIN 3713 Exam 3, Financial Accounting Final Exam Questions and Complete Solutions Graded A+

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  • August 21, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • finance 3713 final fin 3713 exam 3 financial acc

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Finance 3713 Final, FIN
3713 Exam 3, Financial
Accounting Final Exam
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]

,Property rights can be divided into to classes; real and personal. What is an example of real property? -
Answer: Commercial Building



NINA Stands for: - Answer: No Income No Asset



While a variety of loan terms are available, the most common loan term on a fixed rate mortgage is: -
Answer: 30 years



What term BEST describes a person that owns a property and is conveying title to the property to
another person? - Answer: Grantor



CDO stands for: - Answer: Collateralized Debt Obligation



What document conveys title to a property at the time the purchaser completes the performance of the
obligation called for in the document? It is often used in seller financing. - Answer: Land contract



An historical summary of the publicly recorded documents that affect the ownership of a property
known as a(n): - Answer: Abstract



According to the IMF, the Global Pool of Money doubled during which time frame? - Answer: Early
2000s



The global pool of money doubled to what size? - Answer: $70 Trillion



TRUE/FALSE: A clause which specifies that the mortgagor will pay all property taxes and other charges
assessed against the property, eve if these charges have priority over the mortgage is typically included
in mortgage. - Answer: TRUE



What was the rating that was given to many of these securities during the housing boom? - Answer:
AAA

, According to the radio program, what was the year that credit standards really begun to start fallin in
the mortgage business? - Answer: 2003



Wall street created a new vehicle, the CDO for these professional money managers hungering for a fixed
rate investment. The CDO's were made up of pools of: - Answer: Mortgage Backed Securities



What legal document conveys title from one person to another? - Answer: Deed



A mortgage is BEST defined as a legal document that: - Answer: names real estate as the security or
collateral for the repayment of a loan.



According to the radio program, from 2000 to 2006 housing prices were _____ and income was
_______. - Answer: rising quickly, remaining flat



What type of estate lasts for an indefinite period of time? - Answer: Freehold Estate



What is meant by "highest and best use"? - Answer: determining highest total land and property value
by possible use



What is the description of the risk positions of an ARM lender in comparison to that of a FRM lender? -
Answer: Interest rate is lower, but default risk is higher.



In considering a 3/1 adjustable-rate mortgage, the interest rate will be fixed for how many years? -
Answer: 3 years



An appraisal usually contains three approaches to valuation. What are those three valuations? -
Answer: Market Approach

The Cost Approach

The Income Approach

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