Random

Question 1

True or false
When an appraiser finds that a comparable property is of better quality, or has more features than the subject they will subtract value from the comparable

Answer 1

True

Question 2

Discount points are a way lenders are able to charge prepaid interest in order to lower the interest rate over the life of the loan
What is the cost of discount points based on?

A-down payment required

B-the appraised property value

C-the loan amount

D- the sales price

Answer 2

C

Question 3

Fair housing regulations apply not only to RE Agents but also lenders
When a lender Denies a mortgage application solely based on the racial demographics of the neighborhood the property is located in,. The lender is guilty of what

Steering

Redlining

Mortgage fraud

Panic selling

Answer 3

B redlining

Question 4

What is redlining

Answer 4

When lenders deny loans based on the racial demographics of the neighborhood

Question 5

What is self dealing?

Answer 5

An intentional misrepresentation of an agent’s relationship and interest in a transaction

Question 6

Arms length transaction

Answer 6

arm’s length transaction is a business deal that involves parties who act independently of one another.

Question 7

What is the accumulation of land caused by the natural cow of water called

Erosion

Accretion

Avulsion

Alluvion

Answer 7

Accretion

Question 8

A listing agreement in writing creates which form of agency
Negligent agency

Implied agency
Express agency
Ostensible agency

Answer 8

Express