Book Midterm #2

The secondary market would best be defined as:

All of the following would be important to a lender in determining the qualifying ratios of a borrower, EXCEPT:

The final action taken by an appraiser in determining the value of property is called:

In a non-judicial foreclosure, the process is initiated by:

The loan to value ratio calculation measures what?

A borrower obtaining a construction loan would most likely be obtaining what type of loan?

In NC, when does RR get possession of home & seller receive their proceeds from the sale?

Enforcement of RESPA and Regulation Z occurs by:

Provision in lease, ensuring the lessee will have occupancy of unit against others claiming superior interest knows as:

When transfer of property involves purchase money mortgage, would purchase money mortgage appear on closing disclosure?

Type of agency agreement that exists between a property manager and owner of the property would best be classified as:

And appraising, which of the following properties, would appraiser most likely use the cost approach?

Licensed property managers are engaged in all of the following, EXCEPT?

Clause that defeats lenders collateral agreement/securitizing instrument once promissory note has been paid in full is..

Which of the following is correct regarding an option to purchase?

All of the following entities operate in the primary mortgage market, EXCEPT?

When obtaining a loan, which of the following statements is correct regarding debt ratios?

In NC Tenant security deposit act, max amount of security deposit can be collected from tenant when lease term is 1 year

All of the following are subject to the North Carolina Vacation Rental Act EXCEPT:

Document that demonstrates military members will have portion of their loan guaranteed by VETERANS ADMINISTRATION IS:

In a contact for deed, the legal title to the property is retained by:

Which of the following provides that the consumer can see a copy of their credit report once a year?

Which of the following would be considered securitizing documents or collateral agreements?

The federal reserve sets or regulates, all of the following, EXCEPT?

Which of following is accurate statement when using the comparison method of appraising?

Which of the following transactions would require compliance with RESPA?

All of the following would be included in a promissory note, EXCEPT:

The NC Good Funds Act requires attorneys and settlement agents to:

Which of the following is correct regarding property where the promissory note is secured by deed of trust

A loan in which the lender makes regular periodic payments to the borrower in best referred to as a:

Provisions that call for release of certain parcels when a specified amount of money paid would be found in which loan?

Which of the following is required by regulation Z?

Property managers have all the following responsibilities EXCEPT?

Which of the following would be an example of economic obsolescence?

What would be the proper closing disclosure entry when a borrower assumed a mortgage obligation of the seller?

The Best Definition of an estate for years is a leasehold interest that:

Discount points are best described as:

When a trust deed is paid off in full, the borrower will receive a deed of reconveyance from which party?

A property manager has negotiated lease&had them signed on behalf of prop. owner. Under NC law, must be provided when…

Loan clause that most likely would prevent the grantor&grantee from selling property w/out paying off existing mortgage?

When a mortgage note is in default & lender demands that entire balance be paid, mortgagee is exceeding their right of:

A landlord has failed to repair an AC unit despite requests from tenant. Under NC Law, the tenant may take which action?

All following are required by the Dodd, Frank act and enforced by the consumer financial protection bureau, EXCEPT?

All the following would be protected under the equal credit, opportunity act, EXCEPT;

The signs for FHA and the VA are provided by?

What is primary source for rules that regulate the obligations and duties property owners and tenants owe to eachother?

Which of the following is true about an amortized loan?

All of following considered operating expenses in the calculation of net operating income, EXCEPT?

Which of following is correct statement regarding risk of loss regarding the transfer of real property?

Jill an unlicensed employee of property management, which of following is she NOT permitted to do?

2 parties entered into demise agreement. Which would terminate the demise without further liability to the parties?

All of the following are required by the Real Estate Settlement & Procedures Act, EXCEPT:

A loan where the term of the loan is shorter than the amortized period would result in:

On regular basis, property manager has home services to change filters to check HVAC. This type of maintenance is what..