ASREB A-4 Exam Questions and
Answers 100% Pass
A blanket mortgage: - ✔✔Usually has a release clause, covers more than one parcel of
real estate
Which of the following is not a type of real estate mortgage? - ✔✔Chattel mortgage
"Lis Pendens" is: - ✔✔A notice of pending court action
The following statements are true EXCEPT: - ✔✔An attachment and a judgment are the
same in every respect
A mechanic's lien, once filed, is a valid lien on the subject property for how long? - ✔✔6
months
Work on a new dwelling was started on July 1. On August 1, the builder placed on
record a mortgage. On September 1, work was completed and on October 25, the
general contractor, not having been paid, files a mechanic's lien. Said lien has an
effective date as of: - ✔✔July 1
Of the following, which best describes a second mortgage? - ✔✔A junior lien on real
estate
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, The act of extinguishing a debt by regular payments is: - ✔✔Amortization
What clause in a mortgage or trust deed calls for lender's action when the lender's
claims have been nullified? - ✔✔Defeasance clause
Payments on a "Deed of Trust" are due the: - ✔✔Beneficiary
A defeasance clause is in a mortgage for the protection of the: - ✔✔Borrower
What is the borrowing instrument that permits additional sums of money to be loaned
by the same security device? - ✔✔Open end note and mortgage
Which of the following is a security instrument in a real estate transaction? - ✔✔Trust
deed
When the title holder is in default and a court is asked to enforce the lenders lien, the
action is called: - ✔✔Foreclosure
Who places deed restrictions on real estate? - ✔✔Grantor
The primary difference in buying property subject to the mortgage instead of
assumption of the mortgage is in: - ✔✔The obligation of the vendee
The priority of a lien is, in the absence of fraud created as of the date it was: -
✔✔Recorded
In a blanket mortgage, which special clause would you most likely find? - ✔✔Release
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Answers 100% Pass
A blanket mortgage: - ✔✔Usually has a release clause, covers more than one parcel of
real estate
Which of the following is not a type of real estate mortgage? - ✔✔Chattel mortgage
"Lis Pendens" is: - ✔✔A notice of pending court action
The following statements are true EXCEPT: - ✔✔An attachment and a judgment are the
same in every respect
A mechanic's lien, once filed, is a valid lien on the subject property for how long? - ✔✔6
months
Work on a new dwelling was started on July 1. On August 1, the builder placed on
record a mortgage. On September 1, work was completed and on October 25, the
general contractor, not having been paid, files a mechanic's lien. Said lien has an
effective date as of: - ✔✔July 1
Of the following, which best describes a second mortgage? - ✔✔A junior lien on real
estate
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, The act of extinguishing a debt by regular payments is: - ✔✔Amortization
What clause in a mortgage or trust deed calls for lender's action when the lender's
claims have been nullified? - ✔✔Defeasance clause
Payments on a "Deed of Trust" are due the: - ✔✔Beneficiary
A defeasance clause is in a mortgage for the protection of the: - ✔✔Borrower
What is the borrowing instrument that permits additional sums of money to be loaned
by the same security device? - ✔✔Open end note and mortgage
Which of the following is a security instrument in a real estate transaction? - ✔✔Trust
deed
When the title holder is in default and a court is asked to enforce the lenders lien, the
action is called: - ✔✔Foreclosure
Who places deed restrictions on real estate? - ✔✔Grantor
The primary difference in buying property subject to the mortgage instead of
assumption of the mortgage is in: - ✔✔The obligation of the vendee
The priority of a lien is, in the absence of fraud created as of the date it was: -
✔✔Recorded
In a blanket mortgage, which special clause would you most likely find? - ✔✔Release
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