|QUESTIONS AND 100% CORRECT
ANSWERS|LATEST !!!!2026|GRADED A+| (EXAM
A competitive market analysis is MOST often used for - ANSWER setting a listing
price.
A couple owns an older home in a neighborhood that is becoming a commercial area.
Because of the change in the use of the land, the couple can expect the value of their parcel
to increase at some future time. This is an example of the principle of -
ANSWER anticipation.
A commercial property lost value because a recently constructed highway moved traffic
away from the property. This is an example of - ANSWER economic or external
obsolescence.
According to the principle of progression, a three-bedroom, one-story home is MOST likely
to bring the highest sales price if located in a neighborhood in which -
ANSWER most homes are larger than the sale home.
A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest - ANSWER a competitive market analysis to determine
the property's value.
If all other factors are equal, in which location is a parking lot likely to bring the highest sales
price? - ANSWER Business district zoned for a six story office building.
1
, When the sellers are lending part of the purchase price, they may secure the debt either
with a deed of trust or a mortgage. For the seller, one benefit of the deed of trust is that -
ANSWER foreclosure is usually simpler and faster.
Even if a loan applicant's current income seems adequate to qualify for a certain loan, the
Equal Credit Opportunity Act allows a lender to refuse the loan as a high risk if the
applicant's main source of income is - ANSWER commission sales.
A broker and the buyers he represents are anxiously awaiting the closing on their new home.
The closing is scheduled in 4 days. The buyers inform the broker that they just received
revised Loan Estimate and Closing Disclosure forms from the lender, indicating the Annual
Percentage Rate on their loan has increased by 0.3%. Based on the TILA-RESPA Integrated
Disclosure rule, what action should the broker take in this situation? -
ANSWER Confirm with the seller's broker, the lender and the closing entity that the
closing must be delayed to allow for a new seven-day waiting period because of the interest
rate revision.
The FHA functions MOST like - ANSWER an insurance company.
Federal Truth-in-Lending laws are also known as - ANSWER Regulation Z.
Which of these Federal laws regulates the advertisement of a lender's credit terms (rates,
payment, etc.)? - ANSWER Regulation Z.
A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause.
This permits the lender to - ANSWER demand immediate payment of the entire
note.
According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all of the
following disclosures MUST appear in the ad EXCEPT the - ANSWER prepayment
penalties and rebates.
2
ANSWERS|LATEST !!!!2026|GRADED A+| (EXAM
A competitive market analysis is MOST often used for - ANSWER setting a listing
price.
A couple owns an older home in a neighborhood that is becoming a commercial area.
Because of the change in the use of the land, the couple can expect the value of their parcel
to increase at some future time. This is an example of the principle of -
ANSWER anticipation.
A commercial property lost value because a recently constructed highway moved traffic
away from the property. This is an example of - ANSWER economic or external
obsolescence.
According to the principle of progression, a three-bedroom, one-story home is MOST likely
to bring the highest sales price if located in a neighborhood in which -
ANSWER most homes are larger than the sale home.
A prospective seller asks a salesperson to recommend a listing price for a property. The
salesperson should suggest - ANSWER a competitive market analysis to determine
the property's value.
If all other factors are equal, in which location is a parking lot likely to bring the highest sales
price? - ANSWER Business district zoned for a six story office building.
1
, When the sellers are lending part of the purchase price, they may secure the debt either
with a deed of trust or a mortgage. For the seller, one benefit of the deed of trust is that -
ANSWER foreclosure is usually simpler and faster.
Even if a loan applicant's current income seems adequate to qualify for a certain loan, the
Equal Credit Opportunity Act allows a lender to refuse the loan as a high risk if the
applicant's main source of income is - ANSWER commission sales.
A broker and the buyers he represents are anxiously awaiting the closing on their new home.
The closing is scheduled in 4 days. The buyers inform the broker that they just received
revised Loan Estimate and Closing Disclosure forms from the lender, indicating the Annual
Percentage Rate on their loan has increased by 0.3%. Based on the TILA-RESPA Integrated
Disclosure rule, what action should the broker take in this situation? -
ANSWER Confirm with the seller's broker, the lender and the closing entity that the
closing must be delayed to allow for a new seven-day waiting period because of the interest
rate revision.
The FHA functions MOST like - ANSWER an insurance company.
Federal Truth-in-Lending laws are also known as - ANSWER Regulation Z.
Which of these Federal laws regulates the advertisement of a lender's credit terms (rates,
payment, etc.)? - ANSWER Regulation Z.
A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause.
This permits the lender to - ANSWER demand immediate payment of the entire
note.
According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all of the
following disclosures MUST appear in the ad EXCEPT the - ANSWER prepayment
penalties and rebates.
2
