Pt2 Flashcards
(19 cards)
with regard to inflation
market value increases and sales prices increases
when the general level of prices decreases
the value of money increases
when the federal reserve wants a “loose” money market
the fed buys back bonds and lowers reserve requirements of banks
Recession, depression, expansion, and prosperity represent four phases of
the business cycle
if a loan application includes a section requesting information about marital status and race, any applicant may
refuse to complete this section of the application
DRE licensees wishing to originate real estate mortgage loans must
have a unique identification number from NMLS&R
Institutions that specialize in making home loans most commonly get their funds from
individual savings
which of the following are synonymous
a) Interim loan / take out loan
B) take out loan / construction loan
C) construction loan / interim loan
D) None of the above
Construction loan / interim loan
For which of the following is an FHA loan available, but not a Cal-Vet loan
A loan to purchase a single family dwelling to be rented to a tenant
Many lenders consider the liquidity and marketability of loans to be very important when they make a loan secured by a mortgage. The importance of liquidity and marketability relates to:
Activities of the secondary mortgage markets.
In comparing real property price to value, a change in “creative financing” terms will affect:
price
The primary purpose of a site analysis by an appraiser is to determine the:
highest and best use
When the highest and best use of a property is expected to change, the current use is called:
the interim use
When two properties are joined to make one property, and becomes more valuable than the sum of the properties separately, it is called:
plottage
A map shows the house and its location relating to other plants, buildings, and streets. This is an example of:
Orientation
Which of the following is one bored foot?
six inches x twelve inches x two inches
When an air conditioning unit has a higher energy efficiency ratio (EER), the:
Unit is more efficient
“HVAC” refers to:
heating, ventilation, and air conditioning systems in commercial buildings
When a residential neighborhood is composed mostly of owner-occupied residential properties it tends to:
stabilize values
