20 Hour SAFE Comprehensive A - Practice Exam (V1.2)
(20 Hour SAFE Comprehensive A - Practice Exam (V1.2) Latest 2026-27 Update) 4/6/2026, 6:31:26 PM
Study online at https://quizlet.com/_3vx1mr
1. If the lender determines, at any time during the life of the lender may
a loan, that the property securing the loan is located force place the in-
in a special flood hazard area and is not covered by surance coverage
flood insurance, then if the borrower
does not promptly
the lender must accelerate its payment schedule. purchase it.
the lender must cancel its insurance requirement.
the lender may force place the insurance coverage if
the borrower does not promptly purchase it.
the lender must foreclose.
2. Which of the following determines whether flood in- The lender
surance is required for a particular property?
The title company
The lender
The appraiser
FEMA
3. Which document advises the consumer not to provide The HUD special
false information in relation to his loan application? information book-
let
The HUD special information booklet
The Loan Estimate
The ECOA adverse action notice
The Closing Disclosure
4. Which of the following in an ad for residential mort- "5% down pay-
gage financing would trigger additional disclosures? ment"
"5.75% APR"
"VA financing available"
"Affordable payments"
"5% down payment"
5. The primary purpose of the Truth in Lending Act is to ensure consumers
are given disclo-
limit settlement costs. sures of credit
ensure equal credit opportunity. terms.
4/6/2026 2026-04-06 2026/04/06
, 20 Hour SAFE Comprehensive A - Practice Exam (V1.2)
(20 Hour SAFE Comprehensive A - Practice Exam (V1.2) Latest 2026-27 Update) 4/6/2026, 6:31:26 PM
Study online at https://quizlet.com/_3vx1mr
limit consumer interest rates.
ensure consumers are given disclosures of credit
terms.
6. Form 1003 is which of the following? The Uniform Resi-
The Loan Estimate dential Loan Appli-
The Summary Statement cation
The Closing Disclosure
The Uniform Residential Loan Application
7. Foreclosure is initiated on a consumer's principal 200.00
dwelling that secures a credit obligation. At this time,
the finance charge and other disclosures affected by
the finance charge are considered accurate if they are
above the amount required to be disclosed or if they
are understated by no more than
$35.00
$200.00
$50.00
$100.00
8. A loan secured by vacant or unimproved property is the loan proceeds
covered under RESPA only if will be used to con-
struct or place a
None of these, as the property must be improved with structure or a man-
a dwelling ufactured home on
any construction is financed separately. the real property
the loan proceeds are to be used to purchase only the within two years
land. from the date of
the loan proceeds will be used to construct or place a the settlement of
structure or a manufactured home on the real property the loan.
within two years from the date of the settlement of the
loan.
9. Regulation Z requires that an ad stating the down terms of repay-
payment for a closed-end mortgage must include ment of the loan.
terms of repayment of the loan.
down payment amounts for other
4/6/2026
loans available from
2026-04-06 2026/04/06
(20 Hour SAFE Comprehensive A - Practice Exam (V1.2) Latest 2026-27 Update) 4/6/2026, 6:31:26 PM
Study online at https://quizlet.com/_3vx1mr
1. If the lender determines, at any time during the life of the lender may
a loan, that the property securing the loan is located force place the in-
in a special flood hazard area and is not covered by surance coverage
flood insurance, then if the borrower
does not promptly
the lender must accelerate its payment schedule. purchase it.
the lender must cancel its insurance requirement.
the lender may force place the insurance coverage if
the borrower does not promptly purchase it.
the lender must foreclose.
2. Which of the following determines whether flood in- The lender
surance is required for a particular property?
The title company
The lender
The appraiser
FEMA
3. Which document advises the consumer not to provide The HUD special
false information in relation to his loan application? information book-
let
The HUD special information booklet
The Loan Estimate
The ECOA adverse action notice
The Closing Disclosure
4. Which of the following in an ad for residential mort- "5% down pay-
gage financing would trigger additional disclosures? ment"
"5.75% APR"
"VA financing available"
"Affordable payments"
"5% down payment"
5. The primary purpose of the Truth in Lending Act is to ensure consumers
are given disclo-
limit settlement costs. sures of credit
ensure equal credit opportunity. terms.
4/6/2026 2026-04-06 2026/04/06
, 20 Hour SAFE Comprehensive A - Practice Exam (V1.2)
(20 Hour SAFE Comprehensive A - Practice Exam (V1.2) Latest 2026-27 Update) 4/6/2026, 6:31:26 PM
Study online at https://quizlet.com/_3vx1mr
limit consumer interest rates.
ensure consumers are given disclosures of credit
terms.
6. Form 1003 is which of the following? The Uniform Resi-
The Loan Estimate dential Loan Appli-
The Summary Statement cation
The Closing Disclosure
The Uniform Residential Loan Application
7. Foreclosure is initiated on a consumer's principal 200.00
dwelling that secures a credit obligation. At this time,
the finance charge and other disclosures affected by
the finance charge are considered accurate if they are
above the amount required to be disclosed or if they
are understated by no more than
$35.00
$200.00
$50.00
$100.00
8. A loan secured by vacant or unimproved property is the loan proceeds
covered under RESPA only if will be used to con-
struct or place a
None of these, as the property must be improved with structure or a man-
a dwelling ufactured home on
any construction is financed separately. the real property
the loan proceeds are to be used to purchase only the within two years
land. from the date of
the loan proceeds will be used to construct or place a the settlement of
structure or a manufactured home on the real property the loan.
within two years from the date of the settlement of the
loan.
9. Regulation Z requires that an ad stating the down terms of repay-
payment for a closed-end mortgage must include ment of the loan.
terms of repayment of the loan.
down payment amounts for other
4/6/2026
loans available from
2026-04-06 2026/04/06
