COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS ) MULTIPLE CHOICES
/ 2025 BRAND NEW!!
A full-time employee of a government agency evaluates real
property for tax
purposes. The
employee is
A. a notary public
B. an appraiser.
C. an ad valorem administrator.
D. a tax collector - ANSWER-B. an appraiser.
One mortgage clause NOT normally found in a VA or FHA
mortgage is the
A. subordination
agreement.
B. redemption
clause.
,C. prepayment penalty
clause.
D. acceleration clause - ANSWER-C. prepayment
penalty clause.
You purchase a home under a contract for deed. Until the
contract is paid, you
have
A. a life estate in the
property.
B. legal title to the
property.
C. equitable title to the
property.
D. no legal interest in the property. - ANSWER-C. equitable title
to the property.
Which mortgage clause legally allows the lender to declare
the entire unpaid
sum due when the debtor
defaults?
A. Acceleration clause
B. Exculpatory clause
,C. Prepayment penalty clause
D. Escalator clause - ANSWER-A. Acceleration clause
Widely accepted appraisal techniques for appraising
businesses do NOT
include
A. leverage analysis.
B. reproduction or replacement cost less depreciation analysis.
C. liquidation analysis.
D. comparable sales analysis - ANSWER-A. leverage analysis.
The effect of positive leverage is to increase the
A. amount
borrowed.
B. the loan-to-value
ratio.
C. lender's
yield.
D. borrower's return on equity. - ANSWER-D. borrower's
return on equity.
The day of closing
, A. if belonging to the seller, means that the seller is charged
one less day.
B. is always charged to the buyer.
C. is always charged to the seller.
D. if belonging to the seller, means that the seller is charged
one extra day - ANSWER-D. if belonging to the seller, means
that the seller is charged one extra day
A mortgage clause (in title theory states) that provides for the
transfer of title to
real property to the borrower once the mortgage debt has
been repaid is the
A. hold harmless
clause.
B.
novation.
C. defeasance
clause.
D. exculpatory clause - ANSWER-C.
defeasance clause.
The only active general partner in a real estate partnership did
not account properly for his escrowed funds. His license was