What is the final estimate of value, realized from facts, data, experience, and judgment, set out in an appraisal called?

• Debt

• Conclusion

• Default

• Fee

What term describes the failure to fulfill a duty or promise or to discharge an obligation?

• Delegation of Powers

• Exclusion

• Default

• Estate

What is the systematic 5 step procedure followed by major institutional lenders in analyzing a proposed loan called?

• Filtering

• Financing Process

• Fiscal Year

• Expenses

What is an estate of inheritance in real property referred to as?

• Fee

• Debt

• Conclusion

• Exclusion

What is the term for a business or accounting year as distinguished from a calendar year?

• Fiscal Year

• Financing Process

• Filtering

• Estate

What is the definition of "GROSS MARGIN" in the context of an adjustable rate mortgage?

• The ground level at the foundation.

• An amount expressed as percentage points added to the current index value.

• A method of collecting interest by adding total interest to the principal.

• Earnings of improved property credited to the ground itself.

What does "GROSS RATE" refer to?

• The initial note rate upon origination.

• A method of collecting interest by adding total interest to the principal.

• An increase in the value of land.

• The act of signing one’s name on a check or note.

What is "GROUND RENT" often termed as?

• Economic rent.

• Initial rate discount.

• Liquidated damages.

• Livery of seisin.

What does "INCREMENT" most frequently refer to?

• The act of signing one’s name.

• An increase in the value of land.

• The appropriate ceremony for transferring land.

• The note rate upon origination.

What is a "JOINT VENTURE"?

• A sum agreed upon by parties as full damages.

• Two or more individuals or firms joining together on a project.

• The appropriate ceremony for transferring land.

• The disbursal procedure of funds.