Letter G Vocab

Question 1

This term is used to describe an agent who acts on behalf of principal for predetermined actions while they are in their employ.

Answer 1

General Agent

Question 2

This term is used to describe a lien on all property, both real and personal of a debtor.

Answer 2

General Lien

Question 3

This term is used to describe a government entity that
buys mainly VA, FHA, RHA, and other government backed mortgages.

Answer 3

Government National Mortgage Association AKA Ginnie Mae (GNMA)

Question 4

This term is used to describe the area bound by the two sides of the guide meridians and correction lines. An area bounded on two sides by guide meridians and on the other two sides by correction lines, which is _____ miles square, meaning each of its boundaries is _____ miles long.

Answer 4

Government Check, Check, or Quadrangle

Question 5

This term is used to describe a period of 1 year after expiration of a RA license that if renewed with in this time, there is no need to retake all education.

Answer 5

Grace Period

Question 6

This term is used to describe the person who is receiving the
estate OR the Receiv-ee.

Answer 6

Grantee

Question 7

This term is used to describe the person who is giving the
estate OR the Giv-or.

Answer 7

Grantor

Question 8

What is the formula to calculate the Gross Rent Multiplier (GRM) Formula?

Answer 8

Market Value / Annual
Gross Income = Gross Rent Multiplier (GRM)

Question 9

What does the acronym G.R.M. mean?

Answer 9

Gross Rent Multiplier

Question 10

This term is used to describe water found UNDER the surface of a property.

Answer 10

Groundwater