TREBS real estate finance exam
questions with complete solutions16
which is not a responsibility of the us mint?
a. investigating counterfeit money
b. receiving redeeming and processing mutlated coins
c. manufacturing and settling platinum, gold and silver bullion coins
d. dsitributing us coins to the federal reserve banks and branches - ANSWERS-a. investigating
counterfeit money
one of the reasons the fed raises the interest rates is to-
a. discourage banks from lending
b. fight inflation
c. to penalize depositors
d. to create urgency in the markets - ANSWERS-b. fight inflation
this was established to relieve unemployment and stimulate the release of private credit in the
hands of banks and lending institutions for home repairs and construction
a. FHA
b. FNMA
c. FHLMC
d. GNMA - ANSWERS-a. FHA
what is a consumer protection statute designed to help homebuyers be better shoppers?
a. TILA
,b. RESPA
c. FHA
d. VA - ANSWERS-b. RESPA
this act was passed to regulate mortgage lenders and mortgage brokers-
a. SAFE act
b. APA
c. dodd-frank act
d. TILA - ANSWERS-a. SAFE act
B - ANSWERS-The goal of the _________ is to reduce fraud by encouraging states to establish
minimum standards for the licensing and registration of state-licensed mortgage loan
originators.
A. Fair Housing Act
B. The Secure and Fair Enforcement for Mortgage Licensing Act
C. Government National Mortgage Association
D. Community Reinvestment Act
- ANSWERS-The _________ is a massive piece of financial reform legislation passed in 2010 as a
response to the financial crisis of 2008.
A. Government National Mortgage Association
B. Administrative Procedure Act
C. Community Reinvestment Act
D. Dodd-Frank Wall Street Reform and Consumer Protection Act
which of the following is chattel?
a. detached garage
, b. attached satellite dish owned by the seller
c. washer/dryer
d. in ground pool - ANSWERS-c. washer/ dryer
which of the following allows for unequal shares of ownership?
a. tenants in common
b. joint tenancy
c. tenancy by the entirety
d. freehold estates - ANSWERS-a. tenants in common
what is defined as a social science that studies how individuals, governments, and others
allocate scarce resources to satisfy their unlimited wants?
a. finance
b. social studies
c. history
d. economics - ANSWERS-d. economics
what is the federal open market committee?
a. the fed's monetary policy-making body
b. how the fed supplies funds to member banks
c. its one of the 12 federal reserve banks
d. it provides general insight for the fed - ANSWERS-a. the feds monetary policy-making body
which of the following is not necessary for money to function well?
a. it must be in us currency
b. it must be measured to determine its actual value
questions with complete solutions16
which is not a responsibility of the us mint?
a. investigating counterfeit money
b. receiving redeeming and processing mutlated coins
c. manufacturing and settling platinum, gold and silver bullion coins
d. dsitributing us coins to the federal reserve banks and branches - ANSWERS-a. investigating
counterfeit money
one of the reasons the fed raises the interest rates is to-
a. discourage banks from lending
b. fight inflation
c. to penalize depositors
d. to create urgency in the markets - ANSWERS-b. fight inflation
this was established to relieve unemployment and stimulate the release of private credit in the
hands of banks and lending institutions for home repairs and construction
a. FHA
b. FNMA
c. FHLMC
d. GNMA - ANSWERS-a. FHA
what is a consumer protection statute designed to help homebuyers be better shoppers?
a. TILA
,b. RESPA
c. FHA
d. VA - ANSWERS-b. RESPA
this act was passed to regulate mortgage lenders and mortgage brokers-
a. SAFE act
b. APA
c. dodd-frank act
d. TILA - ANSWERS-a. SAFE act
B - ANSWERS-The goal of the _________ is to reduce fraud by encouraging states to establish
minimum standards for the licensing and registration of state-licensed mortgage loan
originators.
A. Fair Housing Act
B. The Secure and Fair Enforcement for Mortgage Licensing Act
C. Government National Mortgage Association
D. Community Reinvestment Act
- ANSWERS-The _________ is a massive piece of financial reform legislation passed in 2010 as a
response to the financial crisis of 2008.
A. Government National Mortgage Association
B. Administrative Procedure Act
C. Community Reinvestment Act
D. Dodd-Frank Wall Street Reform and Consumer Protection Act
which of the following is chattel?
a. detached garage
, b. attached satellite dish owned by the seller
c. washer/dryer
d. in ground pool - ANSWERS-c. washer/ dryer
which of the following allows for unequal shares of ownership?
a. tenants in common
b. joint tenancy
c. tenancy by the entirety
d. freehold estates - ANSWERS-a. tenants in common
what is defined as a social science that studies how individuals, governments, and others
allocate scarce resources to satisfy their unlimited wants?
a. finance
b. social studies
c. history
d. economics - ANSWERS-d. economics
what is the federal open market committee?
a. the fed's monetary policy-making body
b. how the fed supplies funds to member banks
c. its one of the 12 federal reserve banks
d. it provides general insight for the fed - ANSWERS-a. the feds monetary policy-making body
which of the following is not necessary for money to function well?
a. it must be in us currency
b. it must be measured to determine its actual value
