Skip to content
Real Estate Advantage
  • Your Courses
  • Your Orders

Financing

Massachusetts Real Estate Salesperson Exam Financing
Time limit: 0

Quiz Summary

0 of 30 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 30 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

  1. Not categorized 0%
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  1. Current
  2. Review
  3. Answered
  4. Correct
  5. Incorrect
  1. Question 1 of 30
    1. Question

    How does a home equity line of credit differ from a second mortgage?

    Correct
    Incorrect
  2. Question 2 of 30
    2. Question

    What is the primary advantage of a biweekly mortgage?

    Correct
    Incorrect
  3. Question 3 of 30
    3. Question

    When a property is released from a mortgage because it has been paid off by the borrower, what document does the lender provide to prove this to be true?

    Correct
    Incorrect
  4. Question 4 of 30
    4. Question

    Which government entity was created to encourage low-income housing?

    Correct
    Incorrect
  5. Question 5 of 30
    5. Question

    A loan for a new house has an origination fee of one point. If the loan is for $275,000, what would the cost of that point be?

    Correct
    Incorrect
  6. Question 6 of 30
    6. Question

    What is the purpose of underwriting?

    Correct
    Incorrect
  7. Question 7 of 30
    7. Question

    If a borrower puts down 10% on their home loan, what is the loan-to-value ratio?

    Correct
    Incorrect
  8. Question 8 of 30
    8. Question

    A homeowner is buying a new home but hasn’t sold their old one. Which type of loan would they obtain in the short term and pay back as soon as their old house is sold?

    Correct
    Incorrect
  9. Question 9 of 30
    9. Question

    Which is not one of the “three c’s” of underwriting?

    Correct
    Incorrect
  10. Question 10 of 30
    10. Question

    Who is the typical reverse mortgage customer?

    Correct
    Incorrect
  11. Question 11 of 30
    11. Question

    A mortgage broker’s primary role is to ____.

    Correct
    Incorrect
  12. Question 12 of 30
    12. Question

    Mortgage lenders make their money by ____.

    Correct
    Incorrect
  13. Question 13 of 30
    13. Question

    Subprime loans are usually an option for ____.

    Correct
    Incorrect
  14. Question 14 of 30
    14. Question

    Most Real Estate loans deal with simple interest, the formula for which is ____.

    Correct
    Incorrect
  15. Question 15 of 30
    15. Question

    Which of these is a tool the Federal Reserve can use to control/influence monetary policy and supply?

    Correct
    Incorrect
  16. Question 16 of 30
    16. Question

    What financial instrument is given by a borrower to the lender as promise to repay a debt?

    Correct
    Incorrect
  17. Question 17 of 30
    17. Question

    A mortgage is a ____.

    Correct
    Incorrect
  18. Question 18 of 30
    18. Question

    Gradual liquidation through periodic payments of principal and interest is called ____.

    Correct
    Incorrect
  19. Question 19 of 30
    19. Question

    How does an ARM mortgage differ from a fixed rate mortgage?

    Correct
    Incorrect
  20. Question 20 of 30
    20. Question

    A foreclosure sale is ____.

    Correct
    Incorrect
  21. Question 21 of 30
    21. Question

    A mortgage lien is placed on real estate by ____.

    Correct
    Incorrect
  22. Question 22 of 30
    22. Question

    A promissory note must contain the following three things: ____.

    Correct
    Incorrect
  23. Question 23 of 30
    23. Question

    A borrower in a title theory state repays his loan in full, and fulfills any other obligations of the loan. The lender now holds ____.

    Correct
    Incorrect
  24. Question 24 of 30
    24. Question

    Under lien theory, the mortgagee receives ____.

    Correct
    Incorrect
  25. Question 25 of 30
    25. Question

    A VA loan would most likely be used by ____.

    Correct
    Incorrect
  26. Question 26 of 30
    26. Question

    What is the lowest possible down payment on an FHA loan?

    Correct
    Incorrect
  27. Question 27 of 30
    27. Question

    Amortization refers to the process by which ____.

    Correct
    Incorrect
  28. Question 28 of 30
    28. Question

    Over the life of a fixed-rate, fully amortizing loan, the portion of each payment that goes toward principal will gradually ____.

    Correct
    Incorrect
  29. Question 29 of 30
    29. Question

    A chattel loan would be used to purchase ____.

    Correct
    Incorrect
  30. Question 30 of 30
    30. Question

    Fannie Mae is ____.

    Correct
    Incorrect
Login
Accessing this course requires a login. Please enter your credentials below!

Lost Your Password?