Mock 11

Question 1

Which of the following is an element of graduate payment mortgage

Answer 1

The increasing size of payment over time

Question 2

Common property in a strata Totalmente development is

Answer 2

Property that an owner may be granted exclusive use of through the designated Of it as a limited common property

Question 3

Voidable contract is

Answer 3

A contract which one of the parade has an option to cancel

Question 4

Generally speaking the ethical duty of professional courtesy in good faith on to

Answer 4

Fellow mortgage brokers

Question 5

A real estate investment trust is

Answer 5

Credit to invest in mortgages or properties

Question 6

Which of the following statements is true

Answer 6

It is a standard practice to hold the buyer responsible for taxes on the adjustment date itself

Question 7

How is Ethic different from law?

Answer 7

While the law may prescribe the minimum standard of conduct on certain individuals, ethics can go and require a higher moral standard of conduct

Question 8

Want to judge distinguish a case On its facts he?

Answer 8

Decides that the facts crucial to a formal decision or not present in case at hand therefore that decision should not be followed

Question 9

Which of the following elements are necessary to waive a condition precedent under section 54 of the law equity?

Answer 9

1.Reasonable time
Seek it
Performed

Question 10

Which of the following is not relevant in the

Determination Of the duty of care owed by occupiers under the occupiers liability act?

Answer 10

The conduct of A guest the promise

Question 11

With respect to the application of the EMA to mortgages which of the following is true?

Answer 11

Lenders can face liability under the EMA if they become register owner of the property as a result of foreclosure

Question 12

Which of the following is estimate using actual current rent paid on familiar proper base and 100% occupancy?

Answer 12

Growth potential revenue

Question 13

Lenders who are attempting to ration mortgage funds could

Answer 13

Decrease their maximum loan to value ratio

Question 14

All other things being equal shortening the contractual term on a constant payment mortgage?

Answer 14

None of the above

Question 15

Generally accepting accounting principles are the rules and guidelines following in preparing financial statements the revenue recognition principle states?

Answer 15

Revenue should Be recognized by an enterprise when it is earned not necessarily when cash is received

Question 16

When the original loan agreement between the lender and a seller of a property is replaced by a new loan agreement between the lender and the buyer of the property for the mortgage Debt what legal concept has occurred

Answer 16

Notation

Question 17

A borrower has decided to pay 1/2 of a monthly payment on their mortgage loan every two weeks. The effects is that the borrower makes the equivalent of one extra monthly payment per year, thrus paying down the principal faster and paying less interest the borrower is?

Answer 17

Bi-weekly Accelerated payments

Question 18

Which of the following statements regarding property appraisal is false?

Answer 18

The value of real property can always be established with certainty

Question 19

With which one of the following loans is the lenders in national capital and periodic income at the greatest risk

Answer 19

Interest accruing loans

Question 20

Which of the following is within the category of law public law

Answer 20

Constitutional

Question 21

Loan lender initial capital and periodic income at the greatest risk

Answer 21

Interest Accuruing loans

Question 22

False, regarding property appraisals

Answer 22

Value of real property can always be established with certainty