Florida Real Estate Sales Associate Test Questions and Answers

A suit for specific performance or Buyer gets deposit returned, but, not both Which remedies are available when a seller breaches a contract? Right of redemption What term refers to the right of a mortgagor to stop a foreclosure process by paying the entire balance, interest, and so on? Purchase money mortgage Which type of mortgage is known as seller finacing? Note Where are the interest rate, payment, and other terms of a loan found? The mortgage serves as a lien against the property Which statement is correct in a lien-theory state such as Florida? The early payments are mostly interest Which of the following is a characteristic of an amortized or level payment mortgage? Accertion Which term refers to the process of sand deposits building up over time, causing an increase in land? Fee simple Which estate or tenancy is the most comprehensive? Police power Which term refers to the government's right to limit or control the actions of citizens in the form of such things as zoning codes and building codes? Condemnation Which process is used by the government to take private land for public use? Discount rate Which term refers to the interest that is charged when banks borrow from the Federal Reserve? 8.25% If a lender charges 8% interest plus 2 points, what is the approximate yield on the loan?