Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

CA - Real Estate Principles > Chapter 9 > Flashcards

Chapter 9 Flashcards

1
Q

The Federal Housing Administration insures payment of

A

loan principal. page 272

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

A payment to FHA at closing is the

A

mortgage insurance premium. page 273

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

On default of a VA-guaranteed loan, the VA will pay the

A

lender’s loss on the amount guaranteed. page 278

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Which of the following generally does NOT require a down payment?

A

VA-guaranteed loan. page 280

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

RESPA requirements do NOT apply to

A

commercial loans. pages 282-283

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The interest rate on CalVet loans

A

may change annually. page 277

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Which of the following documents is used with a CalVet loan?

A

Land contract. page 277

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The credit extended by seller to buyer is a

A

purchase money mortgage.

page 286

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

An installment sales contract is also called a

A

land contract. page 286

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The transfer of existing mortgages between investors is the

A

secondary mortgage market. page 288

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

CA - Real Estate Principles (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions