When the supply of real estate exceeds the demand for real estate, prices:

• Decrease

• Increase

• Stagnate

• Are Not Affected

Tax exemptions are offered for all of the following EXCEPT:

• Vacation Homes

• Homestead Property

• Seniors

• Disabled

How does the Federal Deposit Insurance Corporation (FDIC) preserve public confidence in the banking system?

• by insuring bank deposits

• by forgiving debts

• by improving consumer credit scores

• by pre-qualifying consumers for loans

What program supports the purchase of land by veterans in Texas?

• Texas Veterans Land Board Program

• Texas Agricultural Money Program

• Texas Farm Program

• Texas Farmer Mac Program

Who is prohibited by RESPA from accepting fees for making referrals?

• Lenders

• RE Agents

• Title Agents

• All Choices are correct

What is the Truth in Lending Act intended to ensure?

• that consumers are able to compare credit terms

• that credit terminology is unique to each lender

• that a lawyer is required to explain credit terms

• that creditors use a different expression of rates for each loan

The type of mortgage originator that brings borrowers and lenders together, but who has NO money to lend is the:

• mortgage broker

• mortgage banker

Jack owns ABC Mortgage Company. Jack's primary job is to originate loans for his company and earn fees associated with the origination. ABC Mortgage Company's loans are sold shortly after closing and they re-invest the money into another loan origination. Jack is a(n) ______.

• mortgage banker

• mortgage broker

What is a registered company that owns and operates commercial real estate on behalf of investors called?

• REIT

• REMT

In a title theory state, which document is used as the security instrument for the note?

• deed of trust

• general warranty deed

• mortgage

• promissory note