ALASKA REAL ESTATE COMPREHENSIVE EXAM 2025/2026
QUESTIONS WITH ANSWERS RATED A+
✔✔Deficiency Judgment - ✔✔A judgment against a debtor for the amount of a debt
remaining unpaid after the collateral has been repossessed and sold.
✔✔Straight Loans - ✔✔Term loans or non amortizing
Periodic payments of interest only with the entire principal due at the end of term
✔✔Amortized Loan - ✔✔Amount paid monthly applied to principal and interest
✔✔Growing Equity Mortgage - ✔✔Rapid-payoff mortgage, increase in payments during
term of loan
Equity grows faster than normal
✔✔Reverse Annuity Mortgage - ✔✔Mortgagee makes payments to mortgagor
✔✔Buydowns - ✔✔Seller of some other person pays some of the buys future interest to
the lender in advance
✔✔Open End Trust Deed - ✔✔- allows the borrower to receive addtl loan money up to
an agreed amount
✔✔Swing mortgage - ✔✔Temporary loan made on a borrowers equity in his present
home(which will be sold) or on equity in both the present and contemplated home(which
will be purchased)
✔✔Strict Foreclosure - ✔✔Court awards legal title to lender
✔✔Deed in Lieu of Foreclosure - ✔✔A friendly foreclosure (nonjudicial procedure) in
which the mortgagor gives title to the mortgagee on his own accord
✔✔Interest Calculation - ✔✔Interest = Principal x Rate x Time
✔✔Compound Interest Formula - ✔✔I=PxI (I being the annual interest rate divided by
the conversion periods per year)
✔✔3 approaches to value - ✔✔(1) The Sales Comparison Approach, (2) The Cost
Approach, (3) The Income Approach.
✔✔DUST - ✔✔Demand
Utility
Scarcity
Transferability
QUESTIONS WITH ANSWERS RATED A+
✔✔Deficiency Judgment - ✔✔A judgment against a debtor for the amount of a debt
remaining unpaid after the collateral has been repossessed and sold.
✔✔Straight Loans - ✔✔Term loans or non amortizing
Periodic payments of interest only with the entire principal due at the end of term
✔✔Amortized Loan - ✔✔Amount paid monthly applied to principal and interest
✔✔Growing Equity Mortgage - ✔✔Rapid-payoff mortgage, increase in payments during
term of loan
Equity grows faster than normal
✔✔Reverse Annuity Mortgage - ✔✔Mortgagee makes payments to mortgagor
✔✔Buydowns - ✔✔Seller of some other person pays some of the buys future interest to
the lender in advance
✔✔Open End Trust Deed - ✔✔- allows the borrower to receive addtl loan money up to
an agreed amount
✔✔Swing mortgage - ✔✔Temporary loan made on a borrowers equity in his present
home(which will be sold) or on equity in both the present and contemplated home(which
will be purchased)
✔✔Strict Foreclosure - ✔✔Court awards legal title to lender
✔✔Deed in Lieu of Foreclosure - ✔✔A friendly foreclosure (nonjudicial procedure) in
which the mortgagor gives title to the mortgagee on his own accord
✔✔Interest Calculation - ✔✔Interest = Principal x Rate x Time
✔✔Compound Interest Formula - ✔✔I=PxI (I being the annual interest rate divided by
the conversion periods per year)
✔✔3 approaches to value - ✔✔(1) The Sales Comparison Approach, (2) The Cost
Approach, (3) The Income Approach.
✔✔DUST - ✔✔Demand
Utility
Scarcity
Transferability
