Acceleration clause - Study guides, Class notes & Summaries
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REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST 2023-2024 ACTUAL EXAM 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+
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REAL ESTATE U FINAL EXAM AND FINAL 
PRACTICE EXAM LATEST ACTUAL 
EXAM 300 QUESTIONS AND CORRECT 
DETAILED ANSWERS (VERIFIED ANSWERS) 
ALREADY GRADED A+ 
Are unlicensed assistants allowed to record and deposit trust money deposits and 
maintain trust account records under the close supervision of the offer broker-incharge? - ANSWER-Yes 
What entities must have a firm license to operate as a broker in North Carolina? - 
ANSWER-Any type other than sole proprietorships. 
When should written a...
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NJ Life Producer Exam Correct answers latest update
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NJ Life Producer Exam Correct answers latest update 
Which of the following amounts must decrease in a decreasing term? 
Death benefit 
 
 
In life insurance, insurable interest must exist at the time the.. 
Producer writes an on a proposed insured 
 
 
An applicant makes an offer to the insurer when they 
pay an initial premium with the application 
 
 
Which of the following makes Universal Life insurance different from other forms of permanent insurance? 
Premium Schedule 
 
 
An insurer that...
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PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2023/2024
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PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2023/2024 
A written agreement in which a purchaser agrees to buy and a seller agrees to sell is 
called ️ a contract 
Antitrust laws prohibit competing brokers from all of the following ️ 1. boycotting 
other brokers in the marketplace. 
2. dividing the market to restrict competition. 
3. agreeing to set sales commissions and management rates. 
When a sewer line is installed down a rural road, the cost will probabl...
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Colibri School Exam NJ 2023(updated)question and answers rated A+
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Colibri School Exam NJ 2023(updated)question and answers rated A+In a real estate transaction the principal would BEST be described as the - correct answer Person represented by an agent 
 
Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she...
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Real Estate U Texas Real Estate Finance(6)
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An acceleration clause is included in which of the following...? 
The mortgage 
Both the promissory note and mortgage 
The promissory note 
The lien - Answer- The promissory note? 
 
Collateral - - Answer- Marketable real or personal property which a borrower pledges as security for a loan. In mortgage transactions, specific land is the collateral. 
 
Promissory Note - - Answer- Following a loan commitment from the lender, the borrower signs a note, promising to repay the loan under stipulated t...
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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023 COMPLETE EXAM UPDATE
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A __________ is a permanent change in one or more of the terms of a borrower's loan. 
Loan Qualification 
Loan Modification 
Loan Approval 
Loan Origination - ANS IS Loan Modification 
What time period must borrowers have in job history with the same employer to qualify? 
2 months 
6 months 
1 year 
2 years - ANS IS 2 years 
Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower 
in taking a mortgage that carries high fees, a high interest rate, strips the borro...
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
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Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answer Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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Law of Contracts Cumulative: Updated Solution: A+ Guide
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abstract of title 
(Ans- an abbreviated history of a property, including info on any transfers, grantts, wills, conveyances, liens, and encumbrances 
 
acceleration clause 
(Ans- clause in a security instrument (mortgage/deed of trust) which makes the entire loan amount due immediately upon default 
 
Accession 
 (Ans- refers to the acquisition of new land or real property by artificial or natural means 
 
actual damages 
 (Ans- monetary compensation given to an injured party for losses that w...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - Answer- The process of creating a new mortgage loan 
 
U...
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pearson vue practice exam Questions and answers, 100% Accurate, graded A+
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pearson vue practice exam Questions 
and answers, 100% Accurate, graded A+ 
In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of 
agency to state ONLY those terms that are 
a. included in the listing agreement 
b. based on the brokers evaluation of prevailing prices and terms 
c. favorable for the seller, as determined by the broker 
d. attractive to buyers, as determined by the broker - -a. included in the listing agreement 
a lot measu...
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NMLS Exam Questions with Correct Answers
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NMLS Exam Questions with Correct Answers 
 
Acceleration Clause - Answer-Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) 
 
Alienation Clause (Due on Sale Clause) - Answer-Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) 
 
Appraiser Independance Requirements replaced HVCC - Answer-home valuation code of conduct 
 
Due on Demand Clause - Answer-(Considered a predatory practice) Th...
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