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California Real Estate Finance Final Exam Questions And Answers With Already Passed!!!
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California Real Estate Finance Final Exam Questions And Answers With Already Passed!!!
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California Real Estate Finance FinalExam Questions And Answers With
Already Passed!!!
The sequence of the five-step financing process is generally
Funding/Closing, Servicing - ANSWER✔✔Application, Analysis/Processing,
Qualifying/Underwriting, Funding/Closing, Servicing
The Federal Reserve System consists of __ reserve districts, and __ board
members. - ANSWER✔✔12/7
interest-bearing savings accounts represent - ANSWER✔✔time deposits
another name for a "take-out" loan is; - ANSWER✔✔permanent financing or long-
term
the financial turmoil in the mid 2000's was NOT fueled by
a. years of greed throughout the finance system
b. relaxation of loan qualifying requirements
c. a reliance on ever-increasing home values
d. the creation of more stringent loan qualifying requirements - ANSWER✔✔D
which of the following characterizes lending policies of life insurance companies;
a. preference for very large projects
b. short payback terms
c. high discount points and fee structure
,d. construction loans preferred over take-out loans - ANSWER✔✔A - Preference
for very large projects
Disintermediation is best described as - ANSWER✔✔a sudden flow of funds from
thrift institutions into the general money
the principal purpse of the Depository Institutions and Monetary Control Act was
to; - ANSWER✔✔phase out restrictions on interest rates that lenders may pay
depositors
The agency responsible for chartering and overseeing the operations of national
banks and bank holding companies is the; - ANSWER✔✔OCC- office of the
comptroller
The trade association that consists of the major investors and lenders in the
mortgage banking fields is the; - ANSWER✔✔Mortgage Bankers Association
Unlike institutional lenders, private lenders;
a. are highly regulated
b. are subject to California's usury statutes
c. apply uniform lending policies and practices
d. make only second trust deed loans - ANSWER✔✔B
a purchase money loan is best illustrated by; - ANSWER✔✔seller carrying back a
first trust deed.
Lending characteristics of private lenders include;
, a. high degree of sophistication in loan decisions b. making primarily first trust
deed loans c. charging relatively low interest rates
d. short-term repayment schedules - ANSWER✔✔D
an association of two or more parties who combine their financial resources for
achieving specific investment objectives is best illustrated by a ;
a. real estate investment trust
b. syndication
c. general partnership
d. limited partnership - ANSWER✔✔B
All of the following statements regarding the discount rate are true except;
a. the higher the discount rate charged the higher the interest rate charged to the
borrower
b. the discount rate is the charge for overnight borrowing from the Fed.
c. any change in the discount rate immediately affects long term mortgage rated
d. the lower the discount rate the greater likehood is of lower borrowing rated by
consumers - ANSWER✔✔C
which of the following receive their capital primarily from gifts, and are a good
source for sale-leaseback financing
a. state-chartered credit unions
b.labor unions
c. endowment funds
d. estate funds - ANSWER✔✔C
alternative mortgage instruments (AIMs) are financing vehicles that
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