Champions Real Estate Finance
2025/2026 Exam Questions and Correct
Answers | New Update
Congress created the Federal Housing Administration in - 🧠ANSWER
✔✔1934
In order to qualify for exemption from capital gains, the property must have
been the primary residence for two of the previous ___ years - 🧠ANSWER
✔✔5 years
A loan with no discount points is known as a - 🧠ANSWER ✔✔Par loan
What is Fiat money - 🧠ANSWER ✔✔Currency that is not backed up by any
precious metals
At the treasury level, funds can be raised to pay for government spending
by increasing borrowing and _____ - 🧠ANSWER ✔✔Raising Taxes
,The ________ is the interest rate a reserve bank charges eligible financial
to borrow funds on a short term basis - 🧠ANSWER ✔✔Discount rate
The Fed uses three monterary policy tools to influence the cost and
availability of credit: Open Market operations, the discount rate and ____ -
🧠ANSWER ✔✔Reserve Requirements
Through which avenue does the US Treasury promote economic growth? -
🧠ANSWER ✔✔Policies that support job creation
Which of the following is NOT a function of the Department of the Treasury
- 🧠ANSWER ✔✔Campaign finance reform
According to the Taxpayer Bill of Rights, taxpayers have the right to: -
🧠ANSWER ✔✔Pay no more than the correct amount of tax, be informed,
privacy
When was HARP introduced? - 🧠ANSWER ✔✔2009
Which refinancing option does HARP offer? - 🧠ANSWER ✔✔Change from
an adjustable to a fixed-rate mortgage, lower interest rates, shorter term
loans
, The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed
into law in 2010 established the - 🧠ANSWER ✔✔Consumer Financial
Protection Bureau
Real Estate transactions regulated by the Office of Consumer Credit
Commissioner include which of the following? - 🧠ANSWER ✔✔Home
equity loans, Home improvement loans and secondary mortgages... all of
these
The Community Reinvestment Act, enacted in _____ ensures that banks
serve the needs of the community in which they were chartered -
🧠ANSWER ✔✔1977
Secondary Mortgage Market - 🧠ANSWER ✔✔Encompasses the purchase
and sale of existing mortgages to investors
Disintermediation - 🧠ANSWER ✔✔the act of moving funds from one
investment arena to another
REMIC - 🧠ANSWER ✔✔holds mortgages in trust for the benefit of investors
Conforming Loan - 🧠ANSWER ✔✔Adheres to Fannie Mae and Freddie
Mac requirement for purchase of a mortgage
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
2025/2026 Exam Questions and Correct
Answers | New Update
Congress created the Federal Housing Administration in - 🧠ANSWER
✔✔1934
In order to qualify for exemption from capital gains, the property must have
been the primary residence for two of the previous ___ years - 🧠ANSWER
✔✔5 years
A loan with no discount points is known as a - 🧠ANSWER ✔✔Par loan
What is Fiat money - 🧠ANSWER ✔✔Currency that is not backed up by any
precious metals
At the treasury level, funds can be raised to pay for government spending
by increasing borrowing and _____ - 🧠ANSWER ✔✔Raising Taxes
,The ________ is the interest rate a reserve bank charges eligible financial
to borrow funds on a short term basis - 🧠ANSWER ✔✔Discount rate
The Fed uses three monterary policy tools to influence the cost and
availability of credit: Open Market operations, the discount rate and ____ -
🧠ANSWER ✔✔Reserve Requirements
Through which avenue does the US Treasury promote economic growth? -
🧠ANSWER ✔✔Policies that support job creation
Which of the following is NOT a function of the Department of the Treasury
- 🧠ANSWER ✔✔Campaign finance reform
According to the Taxpayer Bill of Rights, taxpayers have the right to: -
🧠ANSWER ✔✔Pay no more than the correct amount of tax, be informed,
privacy
When was HARP introduced? - 🧠ANSWER ✔✔2009
Which refinancing option does HARP offer? - 🧠ANSWER ✔✔Change from
an adjustable to a fixed-rate mortgage, lower interest rates, shorter term
loans
, The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed
into law in 2010 established the - 🧠ANSWER ✔✔Consumer Financial
Protection Bureau
Real Estate transactions regulated by the Office of Consumer Credit
Commissioner include which of the following? - 🧠ANSWER ✔✔Home
equity loans, Home improvement loans and secondary mortgages... all of
these
The Community Reinvestment Act, enacted in _____ ensures that banks
serve the needs of the community in which they were chartered -
🧠ANSWER ✔✔1977
Secondary Mortgage Market - 🧠ANSWER ✔✔Encompasses the purchase
and sale of existing mortgages to investors
Disintermediation - 🧠ANSWER ✔✔the act of moving funds from one
investment arena to another
REMIC - 🧠ANSWER ✔✔holds mortgages in trust for the benefit of investors
Conforming Loan - 🧠ANSWER ✔✔Adheres to Fannie Mae and Freddie
Mac requirement for purchase of a mortgage
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
