TREBS exam 2 questions with verified answers
A chain of title shows the linkage of property ownership that connects
the present owner to the original source of title. In most cases it starts
with:
A. Ownership from 1955
B. Chattel
C. A suit in a federal court
D. The original grant of the land from the government to a private
citizen Ans✓✓✓ D. The original grant of the land from the government
to a private citizen
A construction loan is also called a(n):
A. Mark-up loan
B. Interim loan
C. Equity loan
D. Kit loan Ans✓✓✓ B. Interim loan
A handwritten will signed by the testator but not witnessed is known as
a(n):
,A. Nuncupative will
B. Holographic will
C. Oral will
D. Formal will Ans✓✓✓ B. Holographic will
A mortgage broker:
A. Arranges loans between borrowers and lenders
B. Is a lender
C. Buys mortgages in the secondary mortgage market
D. Buys mortgages and resells them at a profit Ans✓✓✓ A. Arranges
loans between borrowers and lenders
A mortgage that includes real estate and personal property is a:
A. Reverse mortgage
B. Package mortgage
C. Blanket mortgage
D. Equity mortgage Ans✓✓✓ B. Package mortgage
, A mortgage that is only for persons 62 years old or older is a:
A. Reverse mortgage
B. Package mortgage
C. Blanket mortgage
D. Equity mortgage Ans✓✓✓ A. Reverse mortgage
A person appointed by a court to settle the estate of a deceased person
when the executor cannot perform or refuses to perform is:
A. Another executor
B. A legatee
C. An administrator
D. A devisee Ans✓✓✓ C. An administrator
A statutory year has ____________ days and each month has
___________ days.
A. 365 ----- 31
B. 365 ----- 28
C. 360 ----- 28
A chain of title shows the linkage of property ownership that connects
the present owner to the original source of title. In most cases it starts
with:
A. Ownership from 1955
B. Chattel
C. A suit in a federal court
D. The original grant of the land from the government to a private
citizen Ans✓✓✓ D. The original grant of the land from the government
to a private citizen
A construction loan is also called a(n):
A. Mark-up loan
B. Interim loan
C. Equity loan
D. Kit loan Ans✓✓✓ B. Interim loan
A handwritten will signed by the testator but not witnessed is known as
a(n):
,A. Nuncupative will
B. Holographic will
C. Oral will
D. Formal will Ans✓✓✓ B. Holographic will
A mortgage broker:
A. Arranges loans between borrowers and lenders
B. Is a lender
C. Buys mortgages in the secondary mortgage market
D. Buys mortgages and resells them at a profit Ans✓✓✓ A. Arranges
loans between borrowers and lenders
A mortgage that includes real estate and personal property is a:
A. Reverse mortgage
B. Package mortgage
C. Blanket mortgage
D. Equity mortgage Ans✓✓✓ B. Package mortgage
, A mortgage that is only for persons 62 years old or older is a:
A. Reverse mortgage
B. Package mortgage
C. Blanket mortgage
D. Equity mortgage Ans✓✓✓ A. Reverse mortgage
A person appointed by a court to settle the estate of a deceased person
when the executor cannot perform or refuses to perform is:
A. Another executor
B. A legatee
C. An administrator
D. A devisee Ans✓✓✓ C. An administrator
A statutory year has ____________ days and each month has
___________ days.
A. 365 ----- 31
B. 365 ----- 28
C. 360 ----- 28
