KEY REALTY EXAM QUESTIONS WITH
100% COMPLETE SOLUTIONS|
LATEST UPDATE
Environmental impact statement says what before a land use is permitted: - correct
answer-Talks about air and noise
Talks about water pollution
Talks about soil and chemical disposal
All of the above is correct
The hazards of lead based paint must be addressed in houses built before: - correct
answer-January 1, 1978
The Superfund deals with: - correct answer-toxic waste
If a real property is exchanged for a like real property and delays any capital gains it is
called: - correct answer-1031 exchange
Assessment tax is: - correct answer-paid usually according to front footage of real
property
When a buyer pays more for real property then its worth because of its location, it is
called: - correct answer-subjective value
A home inspector's job is to point out to people the possibilities of: - correct answer-
Asbestos
Lead based paint
Radon Gas
All of the above
All of the above
, The monetary amount an appraiser says the real property is worth is the: - correct
answer-value
Becky bought her home in 1998 for $100,000 - she put 20% down and is selling her
house today at appraisal value of $140,000, she still owes $68,000, what is her current
equity at the a sales price of the noted appraised value: - correct answer-40,000
What is plottage: - correct answer-An increase in property value caused by the joining of
two neighboring parcels of land
Which of the following organizations fund loans with their own funds and then usually
sells the loan on the secondary market: - correct answer-mortgage banker
A conventional conforming lending program: - correct answer-based on borrowers
ability to repay
Which of the following lending programs requires a DD-214, Certificate of Eligibility, and
owner occupied: - correct answer-VA loan
What is PMI? - correct answer-What is PMI
An appraisal
Same as MIP
Same as Funding Fee
None of the above
none of the above
Which of the following do lenders set: - correct answer-interest rate
What is it called when mortgage bankers bundle loans and sell to the secondary market:
- correct answer-intermediary funding?
GNMA, known as Ginnie Mae: - correct answer-buys FHA and VA loans
Which program requires the real property to be owner occupied and must carry a
prepayment penalty: - correct answer-FHA
100% COMPLETE SOLUTIONS|
LATEST UPDATE
Environmental impact statement says what before a land use is permitted: - correct
answer-Talks about air and noise
Talks about water pollution
Talks about soil and chemical disposal
All of the above is correct
The hazards of lead based paint must be addressed in houses built before: - correct
answer-January 1, 1978
The Superfund deals with: - correct answer-toxic waste
If a real property is exchanged for a like real property and delays any capital gains it is
called: - correct answer-1031 exchange
Assessment tax is: - correct answer-paid usually according to front footage of real
property
When a buyer pays more for real property then its worth because of its location, it is
called: - correct answer-subjective value
A home inspector's job is to point out to people the possibilities of: - correct answer-
Asbestos
Lead based paint
Radon Gas
All of the above
All of the above
, The monetary amount an appraiser says the real property is worth is the: - correct
answer-value
Becky bought her home in 1998 for $100,000 - she put 20% down and is selling her
house today at appraisal value of $140,000, she still owes $68,000, what is her current
equity at the a sales price of the noted appraised value: - correct answer-40,000
What is plottage: - correct answer-An increase in property value caused by the joining of
two neighboring parcels of land
Which of the following organizations fund loans with their own funds and then usually
sells the loan on the secondary market: - correct answer-mortgage banker
A conventional conforming lending program: - correct answer-based on borrowers
ability to repay
Which of the following lending programs requires a DD-214, Certificate of Eligibility, and
owner occupied: - correct answer-VA loan
What is PMI? - correct answer-What is PMI
An appraisal
Same as MIP
Same as Funding Fee
None of the above
none of the above
Which of the following do lenders set: - correct answer-interest rate
What is it called when mortgage bankers bundle loans and sell to the secondary market:
- correct answer-intermediary funding?
GNMA, known as Ginnie Mae: - correct answer-buys FHA and VA loans
Which program requires the real property to be owner occupied and must carry a
prepayment penalty: - correct answer-FHA
