Barney Fletcher Exam Questions 3 And
Answers
A seller listed property for sale. There were a limited number of houses available in the area.
There were also a great number of buyers interested in purchasing homes in that area. What
would MOST LIKELY happen to the value of the property?
A. it would increase in value
B. it would decrease in value
C. the value would stay the same but the property would sell faster
D. there is not enough information given to determine a value change A. it would increase
in value
Two neighbors both used a driveway located on the boundary line between their two properties.
Upon the death of one of the neighbors, would the heirs of the deceased have the right to use the
driveway?
A. no, this right is not transferable
B. no, this is an easement in gross and would not be transferable
C. yes, this is an appurtenant easement and is inheritable
, Barney Fletcher Exam Questions 3 And
Answers
D. yes, but they would have to pay the other neighbor a reasonable sum for the loss C.
yes, this is an appurtenant easement and is inheritable
The paying of kickbacks by lenders is prohibited by:
A. regulation Z
B. real estate settlement procedures act (RESPA)
C. equal credit opportunity act
D. interstate land sales act B. real estate settlement procedures act (RESPA)
A loan with a balance of $21,000 prior to the June 1 payment was figured with interest at 11%
annually and monthly principal and interest payments of $571.80. There was a 1% pre payment
penalty. The owner paid the June 1 payment and then paid off the balance of the loan. What was
the pre payment penalty?
A. $204
B. $206
C. $210
Answers
A seller listed property for sale. There were a limited number of houses available in the area.
There were also a great number of buyers interested in purchasing homes in that area. What
would MOST LIKELY happen to the value of the property?
A. it would increase in value
B. it would decrease in value
C. the value would stay the same but the property would sell faster
D. there is not enough information given to determine a value change A. it would increase
in value
Two neighbors both used a driveway located on the boundary line between their two properties.
Upon the death of one of the neighbors, would the heirs of the deceased have the right to use the
driveway?
A. no, this right is not transferable
B. no, this is an easement in gross and would not be transferable
C. yes, this is an appurtenant easement and is inheritable
, Barney Fletcher Exam Questions 3 And
Answers
D. yes, but they would have to pay the other neighbor a reasonable sum for the loss C.
yes, this is an appurtenant easement and is inheritable
The paying of kickbacks by lenders is prohibited by:
A. regulation Z
B. real estate settlement procedures act (RESPA)
C. equal credit opportunity act
D. interstate land sales act B. real estate settlement procedures act (RESPA)
A loan with a balance of $21,000 prior to the June 1 payment was figured with interest at 11%
annually and monthly principal and interest payments of $571.80. There was a 1% pre payment
penalty. The owner paid the June 1 payment and then paid off the balance of the loan. What was
the pre payment penalty?
A. $204
B. $206
C. $210
