XINNIX MOCK EXAM MISSED QUESTIONS &
VALID CORRECT ANSWERS PASSED 100%
1. Chris earns $36,000 per year from his primary
job. He also has a 2nd job in the same line of
work earning
$11.25 per hour. He is only able to work 12 hours
a week on the 2nd job but has been doing so
for 8 months. What is his monthly qualifying
income?
2. A tax-service fee is a non-allowable fee by FHA. True
3. Using the information provided, answer the
following FHA question:
Sales Price =
$137,300 Interest
Rate = 6.875% 30-
year fixed
Taxes = 1.5%
Homeowners Insurance =
.3% What is the PITI?
4. The following repairs are allowed under the
FHA 203(k) Standard program. (Select all that
apply)
Installing a pool
Interior and exterior
painting Roof replacement
Installing or repairing fencing
5. When adjusting a 1-Year ARM with 2/6 caps, the rate
at True the beginning of year 2 will be determined
by the Start Rate + Annual Cap or the Fully-
indexed rate, whichever
1/
9
, XINNIX MOCK EXAM MISSED QUESTIONS &
VALID CORRECT ANSWERS PASSED 100%
is less. (T/F)
6. HOA dues are included in the PITI calculation. (T/F) False
7. Reimbursed business expenses are Added To
the
borrower's gross income.
2/
9
VALID CORRECT ANSWERS PASSED 100%
1. Chris earns $36,000 per year from his primary
job. He also has a 2nd job in the same line of
work earning
$11.25 per hour. He is only able to work 12 hours
a week on the 2nd job but has been doing so
for 8 months. What is his monthly qualifying
income?
2. A tax-service fee is a non-allowable fee by FHA. True
3. Using the information provided, answer the
following FHA question:
Sales Price =
$137,300 Interest
Rate = 6.875% 30-
year fixed
Taxes = 1.5%
Homeowners Insurance =
.3% What is the PITI?
4. The following repairs are allowed under the
FHA 203(k) Standard program. (Select all that
apply)
Installing a pool
Interior and exterior
painting Roof replacement
Installing or repairing fencing
5. When adjusting a 1-Year ARM with 2/6 caps, the rate
at True the beginning of year 2 will be determined
by the Start Rate + Annual Cap or the Fully-
indexed rate, whichever
1/
9
, XINNIX MOCK EXAM MISSED QUESTIONS &
VALID CORRECT ANSWERS PASSED 100%
is less. (T/F)
6. HOA dues are included in the PITI calculation. (T/F) False
7. Reimbursed business expenses are Added To
the
borrower's gross income.
2/
9
