Học Thi Real Estate License ở California: Introduction to Real Estate Finance

To pay for an operation, a man obtains a first trust deed on his house. One day after completion of the loan, he wishes to rescind the transaction.

The release clause in a trust deed requires payments higher than they should be considerin the value of the property released. Why?

When a vendee under a land contrac defaults, the vendor to clear title would commence a:

If two lenders share in different portions of the same loan, the loan would be a:

An introductory rate of interest is 3.25 percent less than the index rate of 4.25 percent and the 2.25 percent margin would set the introductory rate at:

A mortgage Loan Disclosure Statement is for the protection of the:

Which of the following are synonymous?

An endorsement on a note said "without recourse." What kind of endorsement is it?

A RESPA disclosure statement would least likely be required for a loan made:

The right of rescission under Truth in Lending would apply to a(n):

The collection of interest in advance is known as:

By calling in a loan, the lender:

Which of the following is not required when a trust deed is paid up?

The vendor-vendee relatioship under a land contract is most similar to the relationship:

The person who would wish to record a land contract would be the:

After the three-month notification of default:

The seller under a real property sales contract may not:

Naked legal title refers to a:

A clause in a trust deed calling for assignment of rents most likely would benefit the:

Large payments to a builder as work progresses would most likely be:

Loan payments based on a 20-year amortization schedule also require that the loan be paid in full within 10 years.

A beneficiary sells a note secured by a trust deed. The beneficiary must:

In periods of tight money:

RESPA would apply to a:

Real property would not be:

A land contract clause prohibits any prepayment.

To curb inflation, the government can:

A release clause would most likely appear in:

The unsury law for individuals does not apply when:

Points go up when the going interest rate increases above a fixed lending rate. Assume that each percentage point increase in the lending rate equals 6 points. An interest rate increase from 7 1/4 percent to 8 percent would result in what decrease of points?

Who would most likely benefit by a subordination clause in a trust deed?

The basic obligation of a real estate loan in California is evidenced by:

A trust deed would most likely be discounted by:

Which party to a mortgage signs the note?

A security agreement for personal property is filed with:

Promotional notes, as used in real property securities, do not include a note that has term of:

The beneficiary must give consent before the trustor can:

A trust deed is foreclosed by the:

A deed of reconveyance moves title from:

Ther person signing an assignment of a land contract is:

The power of sale in a trust deed would be given by:

Proceeds from a trustee's sale go to:

When the vendor and vendee sign a real property sales contract:

Making biweekly payments on a mortgage of one-half the monthly payment will result in:

A borrower has a loan where the borrower can make monthly payments less than the interest that is accruing. This would be regarded as a(n):

An alienation clause in a trust deed prohibits:

Inflation is best evidenced by a(n):

In a sale transaction, which party is most likely responsible for a prepayment penalty?

A loan that would appeal most to a young person whose income is starting to increase would be:

Upon default of a buyer on land contract, the seller would:

A packaged mortgage is a loan in which:

A statement that says "In the event of sale, the entire balance is due and payable" would be:

A financing statement is removed from record by:

A trustor under a trust deed:

The nominal rate of interest would be:

A straight note would not be:

A second trust deed can be distinguished from a first trust deed by:

You would find a subordination clause in:

Discount points are:

For a trust deed to be negotiable, it must be:

A trust deed is a(n):

Equity financing refers to:

A right of possession and equitable title would be held by the:

A broker advertised the APR, but did not include any other financing terms. Was the ad proper?

Which of the following are related to each other?

As to beneficiary statements, which of the following is true?

Consideration exists:

Which of the following is not an element of a mortgage?

The longer the loan (all other things being equal):

A mortgage would be released by:

A prepayment penalty would be inconsistent with:

An adjustable-rate mortgage has an index that has risen from 4.5 percent to 11 percent with a margin of 2.5 percent, but the bank is charging only 12 percent interest on the loan. This lower interest is due to:

The advantages to a borrower of a biweekly mortgage payment over a monthly payment include:

A seasoned loan is:

Under a deed of trust the:

A clause in a trust deed that allows a trustor to refinance another trust deed without relegating it to a junior priority is a(n):

A broker's commission for negotiating a loan is not subject to Article 7 limitation if the loan is:

When buying a house, a person would not receive:

Who would sign a request for reconveyance?

A borrower makes $100 amortized loan payments.

Interest paid on principal and interest is:

Janet assumes a trust deed from Bill.

A recorded trust deed referred to in other trust deeds is most likely:

A broker is the owner of the escrow company that handles most of the office business. As to the escrow company:

A deficiency judgment is possible if there is:

Which of the following clauses can be disregarded by a trustor?

Whihc law applies to federally related transactions?

A mortgagee foreclosing would first:

During the one year redemption period of a mortgagor in default:

A lender advanced credit to a consumer and took a lien on the consumer's home even though the cosumer didn't have sufficient income to pay the debt. This is an example of:

Real estate used as security for a loan would be:

When monthly amortized mortgage payments are equal, the interest charged is:

Regarding financial institutions, deregulation means:

Deficiency judgments are not available to a foreclosing mortgagee if:

The payments of the buyer under a land contract include taxes and insurance. The seller:

A holder of a second trust deed reveives notification of default on the first trust deed. He or she would probably:

To subordinate means:

As to points, which of the following is true?

A loan's index rate is now at 5  1/4 percent. If the margin is 2.4 percent, the loan's interest should be:

Secured collaterally refers to a:

A trust deed note showed zero interest. The IRS held that the beneficiary should pay taxes as if a reasonable rate of interest had been received. This rate set by the IRS is known as:

Upon payment of a trust deed in full and on demand of the trustor, the trustee must give a deed of reconveyance:

A straight loan refers to:

Balloon payments are not allowed for an owner-occupied residence under Article 7:

The Truth in Lending Law is enforced by the:

A real property sales contract must show:

Truth in Lending disclosure when advertising a graduated payment loan would require the:

On an amortized loan, each payment would differ from the previous payment in that:

In a subdivision, the largest number of properties that can be covered by a trust deed without a blanket encumbrance is:

An adjustable-rate loan is pegged at an interest rate above a loan index. This increase above the index is knows as the:

Article 5 of the Real Estate Law does not apply to:

A trust deed foreclosed as a mortgage would be foreclosed by:

A basic difference between trust deeds and mortgages is:

To be relieved of the primary responsibility of a loan, a seller must find a buyer:

A trustor is to a beneficiary as:

What is the highest commission a broker can charge in negotiating an $8,000 first trust deed for 2 1/2 years?

Selling a home under an existing blanket trust deed requires that the trustee give a(n):

A land contract is most similar to a:

The beneficiary of a trust deed is most likely a:

Which gives the most protection to a property owner in default?

A mortgage and a trust deed are similar in that:

When interest rates are high, banks increase points on some loans to:

A real estate broker made a home loan at 30 percent interest. The broker:

The  Truth in Leding Act is part of the:

As to real property sales contracts for land or one to four residential units, which of the following is true?

A trust deed would likely be in default when:

A buyer purchases a $10,000 trust deed for $6,400. The trustor defaults. The most that the buyer of the trust deed can recover at the trustee's sale is:

The Real Estate Settlement Procedures Act provides for violation penalties of:

A request for notification of default would be most desired by the:

A lender, in evaluating a prospective loan, should not consider:

Warehousing is becoming extremely important in the field of finance. It refers to:

As to loan brokers, which of the following is true?

Total foreclosure time under a trust deed most nearly approaches:

A borrower receives a monthly check from the lender. This is most likely a(n):

A loan amortization table would show:

The instrument that is least likely to be recorded is the:

A broker has a written agreemnet giving you 60 days to arrange a loan for $1,200.

A broker negotiated a three-year second trust deed for $20,000. He charged a $2,000 fee. The fee is:

An individual working for a bank is paid for every real estate loan she arranges. She must:

The Federal Reserve Board wants to tighten the money supply. What action might it take?

A blanket encumbrance would have the greatest benefit to the:

The prepayment penalty on a pay off for a three-year-old conventional residential loan would be based on the:

As to trust deeds, which of the following is false?

Beth, a licensee, sells a real property sales contract for Ricardo, the vendor. Beth is responsible for making certain the contract is recorded:

A lender made a loan secured by borrower's home without regard to the borrower's ability to make the payments. This would be regarded as:

Hypothecate means:

A lender was required to contact a borrower 30 days prior to a notice of default. This notification was to:

In the absence of any other economic changes, raising the points to be paid on a loan should:

The disclosure statement required under the Truth-in-Lending Law is most similar to:

A disadvantage of a land contract to a buyer is: