Barney Fletcher Exam Questions And
Answers
A property was worth $289,000 if capitalized at 4%. What is it worth if it capitalized at 5%?
A. $185,000
B. $231,200
C. $300,000
D. $325,000 B. $231,200
$289,000 x 4% = $11,560 divided by 5% = $231,200
An heirloom chandelier in a house would be considered:
A. chattel
B. personal property
C. a fixture
D. a trade fixture C. a fixture
, Barney Fletcher Exam Questions And
Answers
An owner of a life estate died and the land passed to the remainderman. What interest would the
remainderman receive?
A. estate in reversion
B. life estate
C. estate at will
D. estate in fee simple D. estate in fee simple
Which of the following BEST describes the extent of an owner's rights in land?
A. the surface of the land only
B. the land and five miles below certain mineral rights
C. the surface of the land up to infinity
D. the land from the center of the earth up to infinity D. the land from the center of the
earth up to infinity
Which of the following does NOT make loans?
, Barney Fletcher Exam Questions And
Answers
A. the secondary mortgage market
B. the federal reserve
C. savings and loans
D. commercial banks A. the secondary mortgage market
What can the VA require a veteran do when applying for a loan?
A. make the down payment directly to the VA
B. make a down payment in cash
C. make the veteran immediately assume liability for the VA guaranty amount
D. NOT allow the veteran to make prepayments on the principal amount C. make the
veteran immediately assume liability for the VA guaranty amount
Which of the following ways of advertising would be allowed under the Federal Truth In
Lending Laws (Regulation Z)?
A. $10,000 assumable loan in a working man's neighborhood
B. shady acres - $10,000 down
Answers
A property was worth $289,000 if capitalized at 4%. What is it worth if it capitalized at 5%?
A. $185,000
B. $231,200
C. $300,000
D. $325,000 B. $231,200
$289,000 x 4% = $11,560 divided by 5% = $231,200
An heirloom chandelier in a house would be considered:
A. chattel
B. personal property
C. a fixture
D. a trade fixture C. a fixture
, Barney Fletcher Exam Questions And
Answers
An owner of a life estate died and the land passed to the remainderman. What interest would the
remainderman receive?
A. estate in reversion
B. life estate
C. estate at will
D. estate in fee simple D. estate in fee simple
Which of the following BEST describes the extent of an owner's rights in land?
A. the surface of the land only
B. the land and five miles below certain mineral rights
C. the surface of the land up to infinity
D. the land from the center of the earth up to infinity D. the land from the center of the
earth up to infinity
Which of the following does NOT make loans?
, Barney Fletcher Exam Questions And
Answers
A. the secondary mortgage market
B. the federal reserve
C. savings and loans
D. commercial banks A. the secondary mortgage market
What can the VA require a veteran do when applying for a loan?
A. make the down payment directly to the VA
B. make a down payment in cash
C. make the veteran immediately assume liability for the VA guaranty amount
D. NOT allow the veteran to make prepayments on the principal amount C. make the
veteran immediately assume liability for the VA guaranty amount
Which of the following ways of advertising would be allowed under the Federal Truth In
Lending Laws (Regulation Z)?
A. $10,000 assumable loan in a working man's neighborhood
B. shady acres - $10,000 down
