Borrower Study guides, Class notes & Summaries
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NMLS Test Prep CompuCram Test | 120 Questions with 100% Correct Answers | Verified | Latest Update 2024
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A borrower signs the note and mortgage for a refinance on his principal residence on Thursday, Dec. 31. 
What is the earliest day the funds for this loan could be disbursed (assuming no bona fide financial 
hardship)? - Wednesday, Jan. 6 
Who manages the National Do Not Call Registry? - Federal Trade Commission 
What federal legislation regulates credit reporting agencies and lenders concerning credit reporting? - 
FCRA 
What is not prohibited to be included in the loan terms for HOEPA covered i...
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NMLS Practice Test Hard Questions With Correct Answers 2024.
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NMLS Practice Test Hard Questions With Correct Answers 2024.A discount point is BEST described as a charge the borrower pays to: 
 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - correct answer A.) A lender to decrease the interest rate on the mortgage loan 
 
A buyer has made an earnest money payment of...
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
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Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. 
 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. 
 
Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answer Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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Champions Real Estate Finance Final Exam With Correct Answers 2024
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Champions Real Estate Finance Final 
Exam With Correct Answers 2024 
Loan-to-Value Ratio (LTV) -CORRECT ANSWER-The percentage of the lesser of the 
appraised value or sales price that the lender will lend. 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 
80% of the sales price or appraised value, whichever is lower. 
Package Mortgage -CORRECT ANSWER-Includes both real and personal property ( 
fixtures and furnishings) 
Blanket Mortgage -CORRECT ANSWER...
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Florida Real Estate Exam TEST Questions WITH 100% Correct Answers LATEST UPDATE 2023/2024
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Florida Real Estate Exam TEST 
Questions WITH 100% Correct 
Answers LATEST UPDATE 
2023/2024 
Binder deposit shows up as what on closing statement? - ANSWER Credit to buyer 
Which of the following is true about leverage? - ANSWER Leverage is the use of 
borrowed funds to purchase assets. 
Which of the following liens would take priority? - ANSWER A property tax lien 
In which of the following theories of mortgage lending does the borrower not retain 
ownership of the property during the loan ...
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RECA Residential Exam Questions and Answers 100% Pass
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RECA Residential Exam Questions and Answers 100% Pass Fiduciary Representation - Trust and confidence - Best interests - Loyalty 
5 Ds of Role Clarity 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do 
Must disclose in writing - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship 
made to clarify and provide proof of...
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U.S. Forces Drivers Training Program for Europe Final Exam 2 He Questions and Answers 100% Correct
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U.S. Forces Drivers Training Program 
for Europe Final Exam 2 He Questions 
and Answers 100% Correct 
For registration purposes, the insurance policy cannot substitute for the insurance confirmation 
card as proof of automobile insurance under German law and U.S. Forces regulations. (para 
33e(3)) 
a. True. 
b. False. True 
License plates issued to drivers by the Registry of Motor Vehicles automatically become the 
driver's property. (para 33c(1)(a)) 
a. True. 
b. False. False 
The driver...
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U.S. FORCES DRIVERS TRAINING PROGRAM FOR EUROPE FINAL EXAM 2 MULTIPLE CHOICE QUESTIONS AND 100% CORRECT ANSWERS
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U.S. FORCES DRIVERS TRAINING 
PROGRAM FOR EUROPE FINAL EXAM 2 
MULTIPLE CHOICE QUESTIONS AND 
100% CORRECT ANSWERS 
For registration purposes, the insurance policy cannot substitute for the insurance 
confirmation 
card as proof of automobile insurance under German law and U.S. Forces regulations. 
(para 33e(3)) 
a. True. 
b. False. - ANS True 
License plates issued to drivers by the Registry of Motor Vehicles automatically become 
the driver's property. (para 33c(1)(a)) 
a. True. 
b. False. - ...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - Answer- The process of creating a new mortgage loan 
 
U...
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Notary Signing Agent Exam 2024
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Notary Signing Agent Exam 2024 
Borrower's Certification Authorization - Answer ️️ -This document certifies all of the 
information provided the loan application is true and complete 
Closing Disclosure - Answer ️️ -(Combines and replaces the HUD/Settlement Statement and 
Truth in Lending (TIL) statement for most loans applied for beginning October 3, 2015 )The 
Closing Disclosure itemizes all closing costs. Page 1 includes loan amount, interest rate, 
projected monthly payments, closin...
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