Pt2 Flashcards
with regard to inflation
market value increases and sales prices increases
when the general level of prices decreases
the value of money increases
when the federal reserve wants a “loose” money market
the fed buys back bonds and lowers reserve requirements of banks
Recession, depression, expansion, and prosperity represent four phases of
the business cycle
if a loan application includes a section requesting information about marital status and race, any applicant may
refuse to complete this section of the application
DRE licensees wishing to originate real estate mortgage loans must
have a unique identification number from NMLS&R
Institutions that specialize in making home loans most commonly get their funds from
individual savings
which of the following are synonymous
a) Interim loan / take out loan
B) take out loan / construction loan
C) construction loan / interim loan
D) None of the above
Construction loan / interim loan
For which of the following is an FHA loan available, but not a Cal-Vet loan
A loan to purchase a single family dwelling to be rented to a tenant
Many lenders consider the liquidity and marketability of loans to be very important when they make a loan secured by a mortgage. The importance of liquidity and marketability relates to:
Activities of the secondary mortgage markets.
In comparing real property price to value, a change in “creative financing” terms will affect:
price
The primary purpose of a site analysis by an appraiser is to determine the:
highest and best use
When the highest and best use of a property is expected to change, the current use is called:
the interim use
When two properties are joined to make one property, and becomes more valuable than the sum of the properties separately, it is called:
plottage
A map shows the house and its location relating to other plants, buildings, and streets. This is an example of:
Orientation
