Principles of Real Estate Chap 12 Exam With 100% Correct Answers 2024

Principles of Real Estate Chap 12 Exam With 100% Correct Answers 2024 C - answer1. The Truth in Lending Act covers credit extended for a a. business or commercial transaction. b. large apartment building. c. mobile home which is used as a residence. d. loan secured by a car valued at $30,000. A - answer2. Truth in lending laws were created primarily to protect a. consumers. b. lenders. c. beneficiaries. d. mortgagees. C - answer3. Regulation Z deals with a. annual percentage rates. b. escrow fees. c. truth-in-lending. d. statue of frauds. C - answer4. According to regulation Z, which of the following would be allowed without further disclosure in an advertisement to sell a residence? a. Easy 11% mortgage assumption b. Take over an 11% loan c. Assume an 11% annual percentage rate mortgage d. Assumable 11% loan B - answer5. Which of the following loans would be exempt from the disclosure requirements of the truth-in-lending laws? a. Commercial loans b. Personal property loans in excess of $25,000 c. Financing extended to corporations d. Consumer loans to natural persons B - answer6. When advertising, a lender must disclose the a. cost of appraisal. b. annual percentage rate. c. closing costs. d. cost of the title search and title insurance. D - answer7. Which of the following loans would be exempt from the disclosure requirements of the truth-in-lending law