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WorksheetsReal Estate Finance 1-7 Quiz
Total questions: 20
Worksheet time: 10mins
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
The contract that spells out the agreement of the loan terms between the borrower and the lender is the:
promissory note
deed of trust
Texas is a
Lien Theory State
Title Theory State
FHA and VA are
Conventional Loans
Government Loans
Which one of the following definitions best describes a tax deduction?
a reduction in the taxable amount of a taxpayer’s income
a dollar-for-dollar reduction in a taxpayer’s tax liabilities
Which mortgage group provides mortgage financing by using their own funds?
mortgage bankers
mortgage brokers
Melissa, a sales agent, has noticed an increase in buyer phone calls and an increase in house prices. She also read in the paper that new construction was up 10%. What can this increase in housing be attributed to?
Increase Demand
Increase Supply
Which of these types of loans can always be sold on the secondary mortgage market?
conforming loans
non-conforming loans
What is a mortgage broker?
an individual who brings together borrowers and lenders to create mortgages
an individual who helps consumers get mortgage loans
Which statement best describes the relationship between the primary and secondary mortgage markets?
The secondary market stabilizes the primary market by replenishing funds.
The primary market props up the secondary market by purchasing notes.
Which government agency has the following three tools for influencing monetary policy: setting the discount rate, setting reserve requirements, and open-market operations?
Federal Reserve
Treasury Department
