Best Study Guide Exams Questions and Answers

REE 3043 TEST QUESTIONS WITH UPDATED ANSWERS Transactional - Conditions of Sale - Answer-Comparable property's sale price must be adjusted if any general condition represented in the sale was not typical of the market. Transactional - Financing Terms - Answer-Must be adjusted if it is sold below market or non market financing Transactional - Market conditions - Answer-must be adjusted if general market conditions have resulted in a change since its transaction date, resulting in overall ...

REE3043 EXAM QUESTIONS WITH COMPLETE SOLUTIONS Gross salary: 50,000 Mortgage debt : .36 Total : 18,000 Divide by 12 to get monthly Gives you 1,500 a month. The bank does not want you total debt ( including the cost of housing ) to be more than 1,500 a month. - Answer-Total debt ratio - school's - property tax rate - driving time to work - crime in the area - recreational amenities - Answer-Things to consider about choosing an area in which to buy a home. - don't make late payments...

Ree 3043 TEST QUESTIONS WITH CERTIFIED ANSWERS 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 The lender that takes out a insurance policy against the mortgage in case the borrower defaults. - Answer-PMI - Private Mortgage Insurance It was created to restore confidence in the mortgage market. It had a great impact in the housing finance system. The FHA helped establish rigorous borrowing and lending ...

REE 3043 REVIEW TEST QUESTIONS WITH REVISED ANSWERS affirmative easement - Answer-allows intrusive use of burdened land negative easement - Answer-restricts burdened landowner's use of land lien - Answer-interest in property given as security for repayment of a debt doctrine of constructive notice - Answer-a common law tradition stating that if a person is capable of knowing about a claim or rule, then he or she can be bound by it most common form of legal description for rural pro...

REE 3043 EXAM 1 QUESTIONS WITH REVIEWED ANSWERS Functional Obsolescence - Answer-An older design and the building doesn't function in such a way maintain value Cost approach - Answer-Can you determine the cost to replace reproduce any type of property Fully Amortized Mortgage - Answer-Periodic payments that are sufficient enough to cover the entirety of the loan and the entirety of the interest by the end of the term Interest only loan - Answer-Making payments toward only the interest...

REE 4204 SIRMANS TEST QUESTIONS WITH REVISED ANSWERS 1990's - Answer--dominance of government sponsered enterprises -baby boomers increase demand for housing -low mortgage intrest rates 2000's - Answer--housing market craze -housing prices were raised over 80% -sharp drop of market priced due to unsold homes -several wall street firms demolished and fannie mae and freddie mac were taken over by gov -rebound in housing prices now we have historically low interest rates Amortization ...

REE 4204 SIRMANS EXAM 1 QUESTIONS WITH VERIFIED ANSWERS 1980's - Answer--depository insititutions deregulations and monetary control act -garn st germain act-introduced competition and incentives for risk taking -widespread saving and loan failures do to deregulation 1990's - Answer--dominance of government sponsered enterprises -baby boomers increase demand for housing -low mortgage intrest rates 2000's - Answer--housing market craze -housing prices were raised over 80% -sharp dro...

FSU REE4204 EXAM 3 SIRMANS QUESTIONS WITH CERTIFIED ANSWERS – UPDATED!! The following will negatively affect real estate as a tax shelter: a. extension of the depreciation period b. introduction of a lower rate on capital gains c. elimination of passive loss limitation d. all of the above e. none of the above - Answer-A The following tax law has an effect on the value of real estate: a. capital gains treatment b. length of depreciation for real property c. passive loss limitati...

REE 4204 EXAM QUESTIONS WITH COMPLETE SOLUTIONS What is the market value? - Answer-the average price the market is willing to pay for that asset What is financial leverage and why do you care about it? - Answer-positive (favorable) leverage increases your rate of return What is a call option? - Answer-the ability to pay off the loan early What is a put option? - Answer-allows the borrower to put the property in place of the debt what is the function of an intermediary? - Answer-its ...

REE4204 TEST 1 REVIEW QUESTIONS WITH REVISED ANSWERS A lender gives you a $125,000 thirty-year fixed-rate mortgage at 6.75%, three discount points, monthly payments. Suppose that, before you make any payments, you receive a pay raise so you pay an extra $100 per month in addition to your normal payment. Also, at the end of year five of the mortgage you have an unexpected job transfer thus the house is sold and the mortgage is repaid. The mortgage balance at the end of year five with the extra ...