451 Real estate Finance 1 (tRainagentsOnline) exam newest
2025/2026 with cOmplete QuestiOns and cORRect answeRs
|alReady gRaded a+||BRand new VeRsiOn!
An officially-issued legal tender generally consisting of currency and coins is
called?
A) Cash
B) Currency
C) Money
D) All the above - ANSWER-D) All the above
What is the purpose of an acceleration clause?
A) Make an entire loan amount due upon default
B) Penalized borrowers for paying early
C) Reward borrowers for paying early
,D) Double the monthly payment amount - ANSWER-A) Make an entire loan amount
due upon default
Which of the follow statement is TRUE of a VA hybrid ARM?
A) It converts to fixed-rate loans after 3 year
B) It uses the LIBOR as an index
C) It has one-year adjustment periods
D) I has a 10% lifetime cap - ANSWER-C) It has one-year adjustment periods
For FHA-insured loans, what is the lender's origination fee limit?
A) 1%
B) 1.25%
C) 1.5%
D) 2% - ANSWER-A) 1%
A VA loan may be used for all of the following EXCEPT?
, A) Purchasing an owner-occupied home
B) Purchasing an investment property
C) Re-financing another VA loan
D) Improving an owner-occupied home - ANSWER-B) Purchasing an investment
property
Which credit report does Fannie Mae require to be part of the application?
A) A credit report from Equifax
B) A credit report from Experian
C) A credit report from TransUnion
D) A merged credit report for all of these reports - ANSWER-D) A merged credit
report for all of these reports
Loan guaranteed by the Veterans Administration (VA) usually require which
of the following things?
A) An origination fee
B) A funding fee
2025/2026 with cOmplete QuestiOns and cORRect answeRs
|alReady gRaded a+||BRand new VeRsiOn!
An officially-issued legal tender generally consisting of currency and coins is
called?
A) Cash
B) Currency
C) Money
D) All the above - ANSWER-D) All the above
What is the purpose of an acceleration clause?
A) Make an entire loan amount due upon default
B) Penalized borrowers for paying early
C) Reward borrowers for paying early
,D) Double the monthly payment amount - ANSWER-A) Make an entire loan amount
due upon default
Which of the follow statement is TRUE of a VA hybrid ARM?
A) It converts to fixed-rate loans after 3 year
B) It uses the LIBOR as an index
C) It has one-year adjustment periods
D) I has a 10% lifetime cap - ANSWER-C) It has one-year adjustment periods
For FHA-insured loans, what is the lender's origination fee limit?
A) 1%
B) 1.25%
C) 1.5%
D) 2% - ANSWER-A) 1%
A VA loan may be used for all of the following EXCEPT?
, A) Purchasing an owner-occupied home
B) Purchasing an investment property
C) Re-financing another VA loan
D) Improving an owner-occupied home - ANSWER-B) Purchasing an investment
property
Which credit report does Fannie Mae require to be part of the application?
A) A credit report from Equifax
B) A credit report from Experian
C) A credit report from TransUnion
D) A merged credit report for all of these reports - ANSWER-D) A merged credit
report for all of these reports
Loan guaranteed by the Veterans Administration (VA) usually require which
of the following things?
A) An origination fee
B) A funding fee
