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BARNEY FLETCHER FINAL EXAM NEWEST ACTUAL EXAM COMPLETE 150 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ €29,46
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BARNEY FLETCHER FINAL EXAM NEWEST ACTUAL EXAM COMPLETE 150 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

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BARNEY FLETCHER FINAL EXAM NEWEST ACTUAL EXAM COMPLETE 150 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

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BARNEY FLETCHER FINAL EXAM NEWEST
2024-2025 ACTUAL EXAM COMPLETE 150
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+


BARNEY FLETCHER FINAL
Which of the following ways of advertising would be allowed
under the Federal Truth In Lending Laws (Regulation Z)?


A. $10,000 assumable loan in a working man's neighborhood
B. shady acres - $10,000 down
C. shady acres - guaranteed to double in value in 5 years
D. shady acres - payments less than rent - CORRECT
ANSWER-D. shady acres - payments less than rent


A son and daughter in law wanted to buy their parents house and
assume the mortgage. The son and daughter in law had just gone
through bankruptcy. Which of the following clauses in a
mortgage would prevent this sale and assumption from taking
place?


A. acceleration clause

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B. alienation clause
C. subordination clause
D. defeasance clause - CORRECT ANSWER-B. alienation
clause


Which non governmental organization has its greatest
investment in first mortgages on single family residences?


A. insurance companies
B. commercial banks
C. savings and loans
D. federal housing administration - CORRECT ANSWER-C.
savings and loans


Which of the following loans gives a borrower the lowest
monthly payment?


A. 8% interest, 20 year term
B. 8% interest, 25 year term
C. 9% interest, 20 year term
D. 9% interest, 25 year term - CORRECT ANSWER-B. 8%
interest, 25 year term

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Which of the following would be enforced by the Federal Trade
Commission (FTC)?


A. federal real estate settlement procedures act (RESPA)
B. federal fair housing (title VIII)
C. federal equal credit opportunity act (FECOA)
D. federal truth in lending law (Reg Z) - CORRECT ANSWER-
D. federal truth in lending law (Reg Z)


Under which of the following circumstances would one MOST
likely see an estoppel certificate?


A. a lender sells a loan and the new mortgagee wants to know
the existing balance
B. a lender attempts to prevent a loan assumption to an
unqualified party
C. a developer attempts to have a parcel released from under a
blanket mortgage
D. a lender calls for full payment of a note - CORRECT
ANSWER-A. a lender sells a loan and the new mortgagee wants
to know the existing balance

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A single parent who receives child support payments is applying
for a loan to purchase a house. The parent MUST disclose the
child support to the lender if:


A. applying for an FHA or VA loan
B. gross income is less than $25,000 per year
C. the child support exceeds 50% of income
D. the child support will be considered as a basis for the
payments - CORRECT ANSWER-D. the child support will be
considered as a basis for the payments


A ready, willing, and able buyer is one:


A. who can meet the seller's terms and conditions
B. with whom the seller is personally satisfied
C. produces an offer with earnest money
D. produces an offer with earnest money that is also signed and
dated - CORRECT ANSWER-A. who can meet the seller's
terms and conditions


A broker listed a $75,000 property and the agreement read that
the owner would NOT take more than a 25% cash offer. The
broker produced a buyer who offered a full price 100% cash
offer. Would the broker be due a commission?

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