1|Page
AYPO Real Estate Finance Newest 2025/ 2026 Actual
Exam Complete Questions And Correct
Answers(Verified Answers)|Already Graded A+||
Newest Exam!!!
The differences between mortgage, bankers, and
mortgage brokers are best described by which of the
following? - ANSWER-The mortgage broker can work with
multiple lenders and only get paid if the loan closes, while
the mortgage bankers are salaried employees of the
lender and work only with that lender
The types of loan that a commercial bank issues -
ANSWER-to vary
_____ is one of the more common non-banking activities
undertaken by some banks - ANSWER-insurance
Which of the following is a common characteristic of
Savings and Loan banks? - ANSWER-They are locally
owned and privately managed
Which of the following statements is not true? - ANSWER-
The promissory note is recorded with the county land
records
,2|Page
Which of these is not a type of easement? - ANSWER-In
trust
An easement appurtenant attaches to which of these? -
ANSWER-A specific piece of land
What differentiates a deed of trust from a mortgage is best
described by which of these? - ANSWER-A mortgage
involves only the borrower and the lending institution,
while a deed of trust includes a third-party trustee
Texas is which form of state in terms of real estate
transactions? - ANSWER-Lien theory state
Which of these clauses allows a borrower to transfer a
mortgage attached to a property, along with the title, to
another owner? - ANSWER-Assumption
A lien is said to be "perfected" by which of the following? -
ANSWER-When the lien is recorded with the appropriate
public agency
An equity line of credit would be considered _________ to
a first mortgage. - ANSWER-junior
, 3|Page
The role of purpose of the promissory note is best
described by which of the following? - ANSWER-It is
essentially an I owe you promising to repay the loan
Interest rates that are based on a flat percentage of the
loan and not compounded could be what kind of interest
loans? - ANSWER-1. Simple
2. Annual
FHA Title I loans generally are for: - ANSWER-
manufactured homes
With mortgage loans, most financial institutions used
compound interest rather than simple interest, generally,
for which of the following reasons? - ANSWER-Compound
interest adds up faster
Different ways that the rate and term conventional
refinance can be used include - ANSWER-1. Lowering the
loan interest rate
2. Shortening the term of the loan
AYPO Real Estate Finance Newest 2025/ 2026 Actual
Exam Complete Questions And Correct
Answers(Verified Answers)|Already Graded A+||
Newest Exam!!!
The differences between mortgage, bankers, and
mortgage brokers are best described by which of the
following? - ANSWER-The mortgage broker can work with
multiple lenders and only get paid if the loan closes, while
the mortgage bankers are salaried employees of the
lender and work only with that lender
The types of loan that a commercial bank issues -
ANSWER-to vary
_____ is one of the more common non-banking activities
undertaken by some banks - ANSWER-insurance
Which of the following is a common characteristic of
Savings and Loan banks? - ANSWER-They are locally
owned and privately managed
Which of the following statements is not true? - ANSWER-
The promissory note is recorded with the county land
records
,2|Page
Which of these is not a type of easement? - ANSWER-In
trust
An easement appurtenant attaches to which of these? -
ANSWER-A specific piece of land
What differentiates a deed of trust from a mortgage is best
described by which of these? - ANSWER-A mortgage
involves only the borrower and the lending institution,
while a deed of trust includes a third-party trustee
Texas is which form of state in terms of real estate
transactions? - ANSWER-Lien theory state
Which of these clauses allows a borrower to transfer a
mortgage attached to a property, along with the title, to
another owner? - ANSWER-Assumption
A lien is said to be "perfected" by which of the following? -
ANSWER-When the lien is recorded with the appropriate
public agency
An equity line of credit would be considered _________ to
a first mortgage. - ANSWER-junior
, 3|Page
The role of purpose of the promissory note is best
described by which of the following? - ANSWER-It is
essentially an I owe you promising to repay the loan
Interest rates that are based on a flat percentage of the
loan and not compounded could be what kind of interest
loans? - ANSWER-1. Simple
2. Annual
FHA Title I loans generally are for: - ANSWER-
manufactured homes
With mortgage loans, most financial institutions used
compound interest rather than simple interest, generally,
for which of the following reasons? - ANSWER-Compound
interest adds up faster
Different ways that the rate and term conventional
refinance can be used include - ANSWER-1. Lowering the
loan interest rate
2. Shortening the term of the loan
