Real Estate Finance MC Practice Questions and Answers

What is the program that licenses, regulates, and examines the trust- and insurance-funded prepaid funeral contract sellers to ensure compliance with the Finance and Administrative Codes? The Funeral Control Contract program The Prepaid Funeral Contract program The Advanced Directive Payment program The Repurchase Funeral Credit program The Prepaid Funeral Contract program Which Board is responsible to license, certify, and regulate real estate appraisers in Texas under state and federal laws? Texas Appraiser Review and Control Board (TARCB) Texas Appraisal License Board (TALB) Texas Fair Trade Commission (TFTC) Texas Appraiser Licensing and Certification Board (TALCB) Texas Appraiser Licensing and Certification Board (TALCB) The act of pooling and investing the money of many people is called: Hoarding Stockpiling Intermediation Prorating Intermediation The process of assessing the lender's risk in giving a loan is called: Pre-qualification Loan underwriting Proration None of the above Loan underwriting The borrower is also called the: Mortgagee Lendor Mortgagor None of the above Mortgagor The Texas agency that ensures that the banks, savings institutions, consumer credit grantors, and other regulated entities chartered or licensed under state law operate as sound and responsible institutions is called: Finance Commission of Texas Texas Board of Banking The Department of Savings and Mortgage Lending Office of Consumer Credit Commissioner Finance Commission of Texas Which of the following are banks prohibited from doing with high-cost mortgages? Issue a prepayment penalty