GRI BROKERAGE EXAM SCRIPT 2026
COMPLETE QUESTIONS AND VERIFIED
SOLUTIONS GRADED A+
⩥ Never adjust the ________ value when creating a CMA. Answer:
Subject.
Always add or subtract value to/from the comparable property
⩥ Gross rent multiplier. Answer: Price / monthly rent
⩥ Value. Answer: GRM x monthly rent
⩥ Promissory note. Answer: A promise to replay the loan
⩥ Mortgage. Answer: Pledge of property as collateral for a loan
⩥ Hypothecation. Answer: Use of real property as collateral for a
mortgage loan
,⩥ Trust Deed Transaction. Answer: Trust deed conveys title from
borrower/trustor to a third party trustee --> trustee holds title on behalf
of the lender/beneficiary until the debt is repaid
⩥ RESPA. Answer: Real Estate Settlements Procedures Act
Limits the funds the lender can require for an escrow account.
⩥ If a lender takes action to protect their right in the property, who is
charged with the cost of those actions?. Answer: Borrower
⩥ PMI. Answer: Private Mortgage Insurance
Protects the lender in case of default. Applies to loads not backed by
FHA/VA and have down payments less than 20%
⩥ Due-on-sale clause. Answer: Allows lender to prevent unapproved
load assumptions (if you well without a lender's approval, lender
demands immediate repayment of the loan balance).
⩥ Acceleration. Answer: Requirement to pay a loan balance before end
of term
, ⩥ Defeasance clause. Answer: (aka release cause) Agreement to release
the lien obligation when borrower has paid off the loan; may require
lender to execute a satisfaction (release) of mortgage.
⩥ Redemption Clause. Answer: Buyer can get our of lender's default by
performing certain actions
⩥ Escalation Clause. Answer: Allows lender to increase the loan's
interest rate
⩥ Conventional Mortgage. Answer: -No gov. related
insurance/guarantees
-Typically require 20% down payments (smaller down payments may
require PMI)
-Assumptions require approval
⩥ Amortized. Answer: Payments include increasing increments of
principal which retire loan balance over loan term
⩥ Fixed Rate. Answer: Interest rate does not change - can have for
amortized or interest only
⩥ Adjustable rate. Answer: Interest rate fluctuates up or down with an
index; payments may vary.
COMPLETE QUESTIONS AND VERIFIED
SOLUTIONS GRADED A+
⩥ Never adjust the ________ value when creating a CMA. Answer:
Subject.
Always add or subtract value to/from the comparable property
⩥ Gross rent multiplier. Answer: Price / monthly rent
⩥ Value. Answer: GRM x monthly rent
⩥ Promissory note. Answer: A promise to replay the loan
⩥ Mortgage. Answer: Pledge of property as collateral for a loan
⩥ Hypothecation. Answer: Use of real property as collateral for a
mortgage loan
,⩥ Trust Deed Transaction. Answer: Trust deed conveys title from
borrower/trustor to a third party trustee --> trustee holds title on behalf
of the lender/beneficiary until the debt is repaid
⩥ RESPA. Answer: Real Estate Settlements Procedures Act
Limits the funds the lender can require for an escrow account.
⩥ If a lender takes action to protect their right in the property, who is
charged with the cost of those actions?. Answer: Borrower
⩥ PMI. Answer: Private Mortgage Insurance
Protects the lender in case of default. Applies to loads not backed by
FHA/VA and have down payments less than 20%
⩥ Due-on-sale clause. Answer: Allows lender to prevent unapproved
load assumptions (if you well without a lender's approval, lender
demands immediate repayment of the loan balance).
⩥ Acceleration. Answer: Requirement to pay a loan balance before end
of term
, ⩥ Defeasance clause. Answer: (aka release cause) Agreement to release
the lien obligation when borrower has paid off the loan; may require
lender to execute a satisfaction (release) of mortgage.
⩥ Redemption Clause. Answer: Buyer can get our of lender's default by
performing certain actions
⩥ Escalation Clause. Answer: Allows lender to increase the loan's
interest rate
⩥ Conventional Mortgage. Answer: -No gov. related
insurance/guarantees
-Typically require 20% down payments (smaller down payments may
require PMI)
-Assumptions require approval
⩥ Amortized. Answer: Payments include increasing increments of
principal which retire loan balance over loan term
⩥ Fixed Rate. Answer: Interest rate does not change - can have for
amortized or interest only
⩥ Adjustable rate. Answer: Interest rate fluctuates up or down with an
index; payments may vary.
