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PSI National Exam for Real Estate/ 544 Quizzes with Certified Ans. An adjustable rate loan should include all of the following elements - Answer: 1. margin 2. life-of-the-loan cap 3. index Regulation Z requires that the borrower be fully informed of all of the following - Answer: 1. loan fees. 2 .the origination fee. 3. the annual percentage rate A couple signed a lease on an apartment for a period of 1 year. The lease does NOT contain an automatic renewal clause. The couple plans ...

OKLAHOMA REAL ESTATE EXAM PREP/ 200 Q&A/ . A BUYER - BROKER AGREEMENT IS MOST LIKELY TO CREATE WHAT TYPE OF AGENCY RELATIONSHIP - Answer: BUYERS AGENCY ACCORDING TO THE TRUTH IN LENDING ACT (REGULATION Z) AN ADVERTISEMENT FOR REAL ESTATE FINANCING MUST INCLUDE SPECIFIC DISCLOSURES FOR - Answer: FINANCE COST AND CHARGES A PROSPECTIVE BUYER HAS OFFERED $127,800 FOR A CONDO THAT APPRAISES FOR $122,500 AND HAS MADE A DEPOSIT OF $5,000. IF THE BUYER ARRANGES A MORTGAGE FOR 85% OF THE APPRAI...

National Real Estate Exam Prep/ 101 Practice Questions & Ans. Fee Simple (also called Fee Absolute) - Answer: The best interest in real estate recognized by law; it represents the most complete ownership. Life Estate - Answer: The estate CANNOT be passed on to the life estate holder's heirs. Pur Autre Vie - Answer: A life estate that is dependent up the life of another. Estate for Years is a type of leasehold that: - Answer: Has a specific expiration date or specific term. Per...

Real Estate Vocabulary (Guide to Passing the PSI Real Estate Exam) 346 Q&A. biweekly mortgage - Answer: A mortgage in which you make payments every two weeks instead of once a month. The basic result is that instead of making twelve monthly payments during the year, you make thirteen. The extra payment reduces the principal, substantially reducing the time it takes to pay off a thirty year mortgage. bond market - Answer: Usually refers to the daily buying and selling of thirty year treasu...

National Real Estate Exam Practice Questions/ 219 Q&A A buyer has purchased a property and after closing the seller will continue to occupy the property. This is an example of... - Answer: sale and leaseback Your client will be able to qualify for a property they wish to purchase in about 6 months, after they had an opportunity to reduce their consumer debt. They have found a property that they would like to purchase now. What type of agreement can they enter into with a seller that will a...

CA Real Estate State Exam Crash Course/ 682 Quizzes with Ans & Rationales. When a real estate agent signs a residential listing agreement with the owner of a home, a fiduciary relationship is created between the broker and the: A - seller B - buyer C - general public D - both buyer and seller - Answer: A - seller When real property is sold, who receives a copy of the termite report from the seller? A - the buyer B - the tax assessor's office C - the title company D - the h...

Real Estate U Final Exam Study Guide/ 110 Quizzes & Ans/ . Title - Answer: Legal term for a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. Closing Statement - Answer: A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc. that must be transacted for a successful transfer of ownership to take place. Essential Element of a Contract - Answer: 1) Consideration 2) Must be in wri...

Texas Real Estate Exam 2024/ 100 Quizzes & Ans/ Agent Terry convinces an owner to list his property way under market value. Terry sells the property to his brother Mark without disclosing the relationship to the buyer in writing. Mark turns around and sells the property for a profit to split with Terry. This is an example of: - Answer: Self-Dealing Agent Paula found a buyer for her listing, the seller accepted the buyer's offer, and both parties received copies of the contract document...

Real Estate Final Exam #1 (150 Questions & Ans) . Under RESPA, a copy of Real Estate Settlement Costs And You must be given - Answer: at the time of loan application, or within 3 days of application. Which of the following is a closing expense paid by the seller? - Answer: The broker's commission An impound or reserve account MOST benefits whom? - Answer: The lender What are impound or reserve accounts also known as? - Answer: Escrow accounts The HUD-1 form is - Answer: a stat...

CA Real Estate Principles Final Exam/ Questions & Certified Solutions. Which of the following statements is true with respect to an option? An option is: - Answer: Valid if consideration is delivered even if it is less than $10 The term "Realtor" is a trade name and only persons who are members of which of the following organizations have the right to use the term? - Answer: National Association of Realtors The California State Agency that governs the issuance of liquor license...