WorksheetsCA Real Estate
Total questions: 53
Worksheet time: 27mins
A buyer will loan from the bank for the purpose of a house. The amount of difference between what the total price will be and the amount he can boroow is reffered to as:
equity
reservation deposit
downpayment
loan balance
In computing the amortization factor on financing of real estate sales, the factors will be based on the following
capacity of the buyer
number of years to pay
Interest rate and term of payment
interest
It is not considered a sale on financing or installment in the purchase of a lot
Pagibig financing
Spot cash
Bank financing
Lending investor's financing
The payment to be made monthly by the lot buyer on installment is generally referred to as
monthly amortization
monthly payments
amortization schedule
financing payments
If financing was made in the amount of 18% per annum, what would be the monthly interest rate to be applied on a 24 months payment scheme
1.0%
1.5%
2.0%
2.5%
The maximum age limit for the maturity of payment of the loan from Pagibig financing for a housing unit is
50
60
65
70
An additional requirement in obtaining a loan which is to pay off the loan or outstanding obligation upon the death of borrower
Loan assurance agreement
Mortgage Redemption insurance
Housing financing insurance
Mortgage loan insurance
A payment scheme where the buyer of a condo unit pays the total price within a short period of time without interest is referred to as
short-term financing
deferred cash payment
discounted cash payment
deferred financing scheme
Anna was paying a monthly amortization of Php54,100 at 21% interest per annum. if the amortization factor is 0.02705, how much is the amount being financed?
1,000,000.00
1,500,000.00
2,000,000.00
2,500,000.00
In a housing financing scheme based on diminishing balance, the interest in the payments
increases while the payment of the principal decreases
decreases while the payment of principal increases
remain constant for the term of the loan
remain constant but the principa decrease
Notice accomplished by recording a document
(a)
Indicates the deceased prepared a will
(a)
To transfer title to real property
(a)
Clause in deed containing words of conveyance
(a)
Defines bundle of legal rights being conveyed
(a)
A type of deed that provides the grantee the least protection
(a)
Type of lease that requires tenant to pay rent plus building expenses
(a)
Property is transferred to state
(a)
Unauthorized use of another’s property
(a)
Mortgage lien is this classification
(a)
Owner conveying title
(a)
Which type of notice is accomplished from information a person has learned by reading, seeing, or hearing?
Constructive notice
Verbal notice
Legal notice
Actual notice
The uprose of recoding a deed is to
Comply with real estate license law
Effect the transfer of ownership
Give the actual notice of ownership
Give constructive notice of ownership
The recipient of real property under the terms of a will is the
Testator
Devisee
Beneficiary
Bequest
Which part of a deed contains a promise by the grantor that the grantor owns the property and has the right to convey the title?
Premises
Habendum
Seisen
Granting clause
Which lien is a superior lien
Special assessment lien
Federal income tax lien
First mortgage lien
Mechanic’s lien
Which lien is a specific lien
Judgment lien
IRS lien
Estate tax lien
Vendor’s lien
Abbreviation for point of beginning
(a)
The transfer of title occurs at this
(a)
Entered on the closing statement as a debit and as a credit
(a)
An inspection sometimes called a walk-through
(a)
How the unpaid property taxes are entered on the buyer’s statement
(a)
Documentary stamp taxes are entered as this on the closing statement
(a)
To charge the expense on the closing statement
(a)
earnest money is credited to this party on the closing statement
(a)
These items are credited to the seller
(a)
Use this person’s days when prorating an item paid in arrears
(a)
To be paid after the expense is incurred
(a)
A wood-destroying inspection report indicates problems caused by these insects
(a)
How is the buyer’s binder deposit entered on the Closing Disclosure?
Debit to buyer only
Credit to the buyer only
Debit to seller and credit to buyer
Debit to buyer and credit to seller
How is the purchase price entered on the Closing Disclosure?
Credit to the seller only
Credit to the buyer only
Credit to seller and debit to buyer
credit to buyer and debit to seller
How are unpaid property taxes entered on the Closing Departure?
Debit to seller only
Debit to buyer only
Credit to seller and debit to buyer
Credit to buyer and debit to seller
Earnest money is
Spent
Saved
Deposited
Transferred
The following are limitations of market indicators, except
Price
Location
Classification
Consummated sales
The following are functions of the real estate market, except:
influences the use of land
regulates the supply of space
sets the timing of land development
enhances supply and demand
The following are determinants of value, except:
Demand
Transferability
Cost
Scarcity
A financing scheme to assist and enable informal settlers, slum dwellers or residents of
blighted areas, in purchasing through their duly registered community association, the
land they occupy or the land where they will be relocated is referred to as:
Joint Venture Agreement
Community Mortgage Program
Community Development Program
Urban Development Program
A real estate company that offers common shares to the public which is similar to any
other stock that represents ownership in an operating business:
Real Estate Investment Company
Real Estate Development Corporation
Real Estate Investment Trust
Real Estate Development Trust
A branch of finance which deals with investing money or wealth in real estate is called:
Real Estate Finance
Real Estate Economics
Real Estate Investment
Real Estate Investment Trust
A Blanket Mortgage is a real estate mortgage that covers:
a single property
several properties
all properties
not more than two (2) properties
The National Home Mortgage Finance Corporation was created in 1977 by virtue of Presidential Decree _____, with the mandate of increasing the availability of affordable housing loans to finance the Filipino homebuyer’s on their acquisition of housing units through the development and operation of a secondary market for home mortgages.
PD1267
PD957
PD1517
PD1216
refers to the comprehensive funds flow system covering the entire housing provision cycle from identification of financial requirements to fund sourcing for various aspects of the housing program, such as lot acquisition, development/construction and end-users’ financing, and securitization of home mortgages and other housing related receivables or financial products;
Housing Finance
Housing Development
Community Mortgage Program
HDMF
It is a government corporation mandated to increase the availability of affordable housing finance to support the Filipino homebuyers on their acquisition of housing units through the development and operation of a secondary market for home mortgages and other housing related receivable
NHMFC
Land Bank
HDMF
SSS
