Champions Principles of Real Estate 2
Questions And Verified Answers Latest
2026 Update | Graded A+ | 100%
Success
Sales Comparison Approach - CORRECT ANSWER -A value for existing properties method for
comparing similar properties to the subject property. this is the best indicator.
Market Data Approach - CORRECT ANSWER -aka: sales comparison approach
Physical Deterioration - CORRECT ANSWER -Loss of value of a building from its reproduction
cost, resulting from wear and tear over time.
Functional Obsolescence - CORRECT ANSWER -loss of desirability of the style, layout or function
of an element of property over time
External Obsolescence - CORRECT ANSWER -Losses of property value caused by forces or
conditions beyond the borders of the property. ie. zoning, highways
promissary note - CORRECT ANSWER -evidence of a lean. simply a note
, Foreclosure - CORRECT ANSWER -secured property may be sold ti satisfy the unpaid promissory
note.
Primary Mortgage Market - CORRECT ANSWER -the loan origination market where borrowers
and lenders negotiate mortgage terms
funding - CORRECT ANSWER -transferring funds to a title co for disbursement when loan is
approved.
Servicing - CORRECT ANSWER -The process of collecting loan monthly payments, keeping
records and balances, collecting and paying taxes and insurance
Equal Credit Opportunity Act - CORRECT ANSWER -federal law passed in 1974. doesn't include:
gender or immigration status. consumers are given equal chance to obtain credit.
secondary market - CORRECT ANSWER -exists for the purchase and sale of existing mortgages to
investors
Liquidity - CORRECT ANSWER -provides a steady supply of funds to keep making loans
yield - CORRECT ANSWER -represents money earned on an investment
Questions And Verified Answers Latest
2026 Update | Graded A+ | 100%
Success
Sales Comparison Approach - CORRECT ANSWER -A value for existing properties method for
comparing similar properties to the subject property. this is the best indicator.
Market Data Approach - CORRECT ANSWER -aka: sales comparison approach
Physical Deterioration - CORRECT ANSWER -Loss of value of a building from its reproduction
cost, resulting from wear and tear over time.
Functional Obsolescence - CORRECT ANSWER -loss of desirability of the style, layout or function
of an element of property over time
External Obsolescence - CORRECT ANSWER -Losses of property value caused by forces or
conditions beyond the borders of the property. ie. zoning, highways
promissary note - CORRECT ANSWER -evidence of a lean. simply a note
, Foreclosure - CORRECT ANSWER -secured property may be sold ti satisfy the unpaid promissory
note.
Primary Mortgage Market - CORRECT ANSWER -the loan origination market where borrowers
and lenders negotiate mortgage terms
funding - CORRECT ANSWER -transferring funds to a title co for disbursement when loan is
approved.
Servicing - CORRECT ANSWER -The process of collecting loan monthly payments, keeping
records and balances, collecting and paying taxes and insurance
Equal Credit Opportunity Act - CORRECT ANSWER -federal law passed in 1974. doesn't include:
gender or immigration status. consumers are given equal chance to obtain credit.
secondary market - CORRECT ANSWER -exists for the purchase and sale of existing mortgages to
investors
Liquidity - CORRECT ANSWER -provides a steady supply of funds to keep making loans
yield - CORRECT ANSWER -represents money earned on an investment
