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REE 3043 TEST QUESTIONS AND ANSWERS ALL CORRECT

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REE 3043 TEST QUESTIONS AND ANSWERS ALL CORRECT When existing loans are sold by originators to investors or from one investor to another, these transactions are the secondary mortgage market. - Answer Secondary mortgage market The value of money changes over time - Answer Time value of mon...

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  • September 11, 2024
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  • 2024/2025
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REE 3043 TEST QUESTIONS AND
ANSWERS ALL CORRECT
When existing loans are sold by originators to investors or from one investor to another,
these transactions are the secondary mortgage market. - Answer ✔ Secondary
mortgage market

The value of money changes over time - Answer ✔ Time value of money

Earning may not be there, could lose your principle, liquidity risk ( it is not easily
converted into cash ) - Answer ✔ Financial risks

Present value of your cash inflows minus the present value of your cash outflows Or
difference between cost and value, must know your required rate of return when using
the NPV analysis - Answer ✔ NPV ( Net Present Value )

That discount rate that equates the value of the cash outflows and cash inflows to $0.00
- Answer ✔ IRR ( Internal Rate of Return )

Document that has the positive and negatives of investing in a property. Used for
regulations ( Reg. ) D Underwritings - Answer ✔ PPM ( Private Placement
Memorandum )

Periodic payments are sufficient to pay off the full amount of the loan plus all of the
interest by the end of the term.
- was a common type of mortgage until a few years ago. Starting to come back now. -
Answer ✔ Fully amortizing loan

You pay only the interest on the loan for the entire loan and then pay the principle at the
end of the loan. - Answer ✔ Interest only loan


___________ bring buyers and sellers together and earn a percentage of the contract
price - Answer ✔ brokers

Brokers and salesperson also do leasing such as office, retail, industrial and for
apartments - Answer ✔ true

_____________________ the first license one would obtain. can work a whole career
without getting a broker's license - Answer ✔ salesperson license

salesperson splits commission with broker - Answer ✔ true

, When you have a salesperson license you have to work under a broker - Answer ✔ true

Commission must be paid to the __________ who then pays salesperson - Answer ✔
true

_________________________ sales persons and brokers act as transactional agents,
they represent the transaction buyer and seller - Answer ✔ transaction broker

How to get a salesperson license - Answer ✔ 36 hour course
pass school goldcoast exam
pass state exam

In florida, salesperson and broker licenses have to renew every - Answer ✔ 2 years

Renewal License requirements Salesperson - Answer ✔ 14 hours every 2 years
45 hours for salesperson in first two years

Renewal License requirements Broker - Answer ✔ 60 hours includes 14 hours
14 hours in 2nd renewal

simply someone who belongs to a board to realtors

must be licensed to be in board

if licensed, you do not have to be in board

900 +/- yearly dues

to facilitate sales by offering the MLS to members - Answer ✔ realtor

When seller hires firm, they are hiring the broker - Answer ✔ all offers must be
presented to seller

buyers of property can also hire brokers - Answer ✔ true

Sales person is an _________ and an _________ of the broker. - Answer ✔ employee
agent

Sales person cannot do anything to harm the broker - Answer ✔ true

There is a __________ relationship between property owner and broker - Answer ✔
fiduciary

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