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| Which creates a lien against the property as security for the debt? |
Deed of Trust |
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gettarb Tue, 07 Dec 2010 01:19:13 GMT |
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| In an amortized loan, the initial payments are applied mainly to the |
Interest |
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gettarb Tue, 07 Dec 2010 01:19:13 GMT |
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| A declaration before a notary or officer of the court that the signature on a deed is genuine is a |
Acknowledgement |
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gettarb Tue, 07 Dec 2010 01:18:34 GMT |
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| Donna gives Tom a general warranty deed that does NOT mention that there is a mortgage lien on the property. This is a violation of the covenant |
Against Emcumbrances |
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gettarb Tue, 07 Dec 2010 01:18:34 GMT |
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| What kind of notice refers to information that is available in the public record? |
Constructive |
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gettarb Tue, 07 Dec 2010 01:18:33 GMT |
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| The first step in estimating property value using the income approach is to |
Estimate Potential Annual Gross Income |
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gettarb Tue, 07 Dec 2010 01:18:33 GMT |
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| Which provides a secondary market for FHA and VA (not conventional) mortgage loans? |
Ginnie Mae |
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gettarb Tue, 07 Dec 2010 01:16:37 GMT |
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| Requirements for obtaining title by adverse possession usually include which of the following? |
All of the Above |
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gettarb Tue, 07 Dec 2010 01:16:37 GMT |
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| If the seller's debits are greater than the seller's credits on the closing statement, the seller will |
Pay cash at closing |
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gettarb Tue, 07 Dec 2010 01:16:37 GMT |
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| Who is usually responsible for fees to prove good title? |
Seller |
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gettarb Tue, 07 Dec 2010 01:16:37 GMT |
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| VA loans are made by |
V-A Approved lenders |
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gettarb Tue, 07 Dec 2010 01:14:23 GMT |
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| Which originate loans with either their own money or funds borrowed from other institutions? |
Mortgage Bankers |
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gettarb Tue, 07 Dec 2010 01:14:23 GMT |
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| A loan that is NOT insured or guaranteed by a government agency against default of the borrower is called a |
Conventional Loan |
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gettarb Tue, 07 Dec 2010 01:14:23 GMT |
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| If the seller is presumed to be responsible for the day of the closing, using the calendar-year method, compute the tax proration for yearly real estate taxes of $3,650 paid in arrears for a closing on July 22. The actual number of days in the proration period is |
203 |
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gettarb Tue, 07 Dec 2010 01:14:23 GMT |
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| A bequest is the disposition under a will of |
Personal Property |
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gettarb Tue, 07 Dec 2010 01:12:50 GMT |
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| What kind of title policy is guaranteed for the amount paid for the property? |
Owner's |
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gettarb Tue, 07 Dec 2010 01:12:50 GMT |
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| he annual percentage rate (APR) includes the base interest rate and all finance costs that are incurred in a transaction solely because there is a loan involved T/F? |
T |
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gettarb Tue, 07 Dec 2010 01:12:50 GMT |
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| The final step in the cost approach for estimating value of property is to |
Add estimated land value to the depreciated cost of the building and other site improvements |
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gettarb Tue, 07 Dec 2010 01:12:50 GMT |
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| Which originate loans with either their own money or funds borrowed from other institutions? |
Mortgage Bankers |
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gettarb Tue, 07 Dec 2010 01:02:11 GMT |
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| What kind of notice refers to information that is available in the public record? |
Constructive |
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gettarb Tue, 07 Dec 2010 01:02:11 GMT |
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| Charging interest in excess of the maximum rate of interest set by state law is called |
Usery |
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gettarb Tue, 07 Dec 2010 01:02:11 GMT |
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| A single-family residence does NOT reach its full value because it is located in an industrial area. This illustrates the appraisal principle of |
Conformity |
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gettarb Tue, 07 Dec 2010 01:02:11 GMT |
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| A loan that is NOT insured or guaranteed by a government agency against default of the borrower is called a |
Conventional Loan |
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gettarb Tue, 07 Dec 2010 01:00:38 GMT |
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| A bequest is the disposition under a will of |
Personal Property |
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gettarb Tue, 07 Dec 2010 01:00:38 GMT |
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| The annual percentage rate (APR) includes the base interest rate and all finance costs that are incurred in a transaction solely because there is a loan involved T/F? |
T |
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gettarb Tue, 07 Dec 2010 01:00:38 GMT |
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| A bedroom without a closet is an example of what type of depreciation? |
Functional Obsolescence |
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gettarb Tue, 07 Dec 2010 01:00:38 GMT |
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| Someone making a will must be free of undue influence by other people T/F? |
T |
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gettarb Tue, 07 Dec 2010 00:01:22 GMT |
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| To be eligible for recording, Texas requires that any instrument affecting real estate be either acknowledged or signed and sworn to before a notary public T/F? |
T |
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gettarb Tue, 07 Dec 2010 00:01:22 GMT |
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| A point is one percent of the loan amount T/F? |
T |
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gettarb Tue, 07 Dec 2010 00:01:22 GMT |
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| The goal of adjustments is to make the characteristics or amenities of the comparable properties higher than the subject property T/F? |
F |
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gettarb Tue, 07 Dec 2010 00:01:22 GMT |
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| Legal capacity means that the grantor of a deed must be of legal age and mentally competent T/F? |
T |
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gettarb Mon, 06 Dec 2010 23:59:49 GMT |
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| Proration calculations using the statutory month method are computed using 30 days in a month T/F? |
T |
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gettarb Mon, 06 Dec 2010 23:59:49 GMT |
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| The borrower must occupy a property bought with a VA loan t/f? |
T |
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gettarb Mon, 06 Dec 2010 23:59:49 GMT |
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| To find the subject property's value, multiply net operating income (NOI) by the capitalization rate (cap rate T/F? |
F |
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gettarb Mon, 06 Dec 2010 23:59:49 GMT |
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| Knowledge that a buyer received a deed but NEVER recorded it is constructive notice T/F? |
F |
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gettarb Mon, 06 Dec 2010 23:55:29 GMT |
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| A Loan Discount represents the percentage by which the face amount of a mortgage loan is reduced when it is sold to an investor T/F? |
T |
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gettarb Mon, 06 Dec 2010 23:55:29 GMT |
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| Prior to closing, the buyer usually deposits the balance of the cash needed to complete the purchase T/F? |
T |
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gettarb Mon, 06 Dec 2010 23:55:29 GMT |
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| There is a relationship between the capitalization rate (rate of return) and risk T/F? |
T |
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gettarb Mon, 06 Dec 2010 23:55:29 GMT |
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