Mortgage
Quiz
•
Professional Development
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Professional Development
•
Practice Problem
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Hard
Andrea Ferreto
Used 98+ times
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11 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On which mortgage types the PITI is always included?
VA and HELOC
FHA and Conventional
VA and FHA
FHA and Equity Loans
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What’s the correct “Account Type” for a Home Equity Line of Credit?
Revolving
Mortgage Loan
Installment
Open
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What’s the correct “Account Type” for a Conventional Mortgage?
Revolving
Mortgage Loan
Installment
Open
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does P.I.T.I. stands for?
Payment, interest, taxes and insurance
Principal, interest, taxes and insurance
Payment, principal, taxes and insurance
Property, interest, taxes and insurance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean that the terms are reported as “REV” on a revolving account?
Interest payments only
Interest and principal payment
Principal payments only
Principal and taxes payment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What types of accounts do always include LPM and NPD on the verbiage?
Auto loan and Home Equity/HELOC
Mortgage and HELOC
Mortgage and Installment
Mortgage and Revolving
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the “Loan type” on a private mortgage account?
VA Real Estate Mortgage
Second mortgage
FHA Real Estate Mortgage
Conventional Real Estate Mortgage
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