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부동산

TEST 15

2019.03.07 20:12 Views : 99

1 of 10 - Patrice and Jacque have secured a mortgage loan. They must provide at least a 20% down payment, but are not required to have a government guarantee or private mortgage insurance. What type of mortgage loan have they obtained?
A Conventional Insured Loan
An Exchange
 
Conventional Loan
Syndicate Financing
You answered correctly
2 of 10 - A first-time buyer has applied for a large mortgage loan at ABC Bank. The first-timer has good credit, good debt-to-income ratio, a stable position and adequate income. The lender still has concerns. Which of the following is not one of the lender's concerns?
The current and future value of the property.
The attractiveness of other investments that could be made for a better return.
The income and income potential of the loan applicant.
 
The loan applicant's need of financial assistance.
You answered correctly
3 of 10 - What category of investors sees Syndicate Equity Financing as a good opportunity?
Consumers with damaged credit.
Consumers with more than one home loan.
 
Small investors.
Borrowers who have previously declared bankruptcy.
You answered correctly
4 of 10 - Who benefits from a long-term lease?
The tenant - 100% of rent is deductible as an expense.
 
The landlord - The property is leased for a long period of time, guaranteeing a return on investment.
The tenant - The total debt load of the tenant remains the same.
 
Both A and C
You answered incorrectly
A long-term lease is a good approach if the property is usable as is, offering the tenant 100% of the rent being deductible as expense with the tenant's total debt load remaining the same but there are some disadvantages to the landlord.
5 of 10 - Tyoka has a small retail store in San Diego. He sells imported items such as clothing, arts, and crafts. He has recently sold the store to a group of investors. In the arrangement with the investors, Tyoka now leases his former store from the new investors. What type of financing applies to Tyoka's new arrangement?
 
Exchange
Long-Term Lease
 
Sale-Leaseback
Straight Lease
You answered incorrectly
With a sale-leaseback, the property owner sells his property but then leases it back from the purchaser, allowing the original owner to retain possessory rights.
6 of 10 - Who is the largest private mortgage insurer?
 
Mortgage Guarantee Insurance Corporation
Fannie Mae
Freddie Mac
VA
You answered correctly
7 of 10 - Jack owns a small home near a school. He doesn't have any children, and doesn't plan on having any in the future. Jack is a writer and works out of his home. All of the noise from the playground during the day interrupts Jack while he is trying to work. Tina, a friend of Jack's, also owns a small home. Her home is in a quiet, little secluded neighborhood. She has a child that will be entering first grade in the fall and wishes she lived closer to a school. One day, Jack asked Tina if she would want to exchange homes. Is this a possibility?
 
Yes, a trade of properties (Exchange) is possible if the trade involves no financing and the properties are not mortgaged.
Yes, a trade of properties (Exchange) is possible if the trade involves no financing.
No, it is not a possibility. Simply "trading" real estate is not recognized under California Real Estate Law.
None of the Above
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8 of 10 - Gordon makes a trip to his financial institution one morning. He has conducted all of his banking transactions at the institution for more than twenty years. Today he walks out with a loan on his new home and one for a new boat. What method of financing has Gordon secured?
Exchange
 
Commercial
 
Conforming loan
Bonds or Stocks
You answered incorrectly
A commercial loan is a straight bank loan that the borrower obtains based either on good credit or some non-real property collateral.
9 of 10 - Why would a Contract for Deed (Installment Sale Contract) be attractive to certain buyers?
Buyers who cannot come up with a down payment may lease to own for a period of time, usually five years.
Buyers who can only make a small down payment with monthly installments. Usually they must meet certain conditions and the contract does not require conveyance within six months.
 
Buyers who can only make a small down payment with monthly installments. Usually they must meet certain conditions, and the Contract for Deed does not require conveyance (transfer) within the same year.
Buyers have the title conveyed to them, usually after two years, when certain conditions are met and monthly installments are made toward the down payment.
You answered correctly
10 of 10 - Why are sales contracts no longer a popular financing instrument in California?
It is very difficult for the seller to remove a buyer that is in default.
The buyer is at risk because he holds no immediate title to the property.
Court battles involving both the seller and buyer could be lengthy and costly.
 
All of the Above
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