NEW Practice 5 Question Exam

1 point(s)

What are the Primary Mortgage Market?

a. Insurance Co's, Thrifts, Credit Unions, Commercial Banks, Mortgage Loan Bank
b. Fannie Mae, Freddie Mac, FSA, Ginnie Mae
c.F DIC, NCUA
d. None of the above

1 point(s)

What programs are in the Secondary Mortgage Market?

Union Secondary Market
Fannie Mae
Local Government Services Group (LGSG)
None of the above

2 point(s)

The Real Estate Settlement Procedures Act (RESPA) provides that

a. all real estate purchasers must receive their closing statements.
b. real estate advertisements must include the annual percentage rate, including all charges.
c. the borrower must be given an estimate of the closing costs before the time of the closing.
d. real estate syndicates must comply with the disclosures required by 'blue sky' laws.

2 point(s)

Who is the president elect?

a. the current president
b. new president
c. old president
d. really old president

1 point(s)

When can a real estate licensee reveal confidential information about a client?

Never
After the client agency relationship has been terminated
After the client has purchased or sold the property involved in the transaction
After the client has purchased or sold the property involved in the transaction

1 point(s)

Real Estate Agency can be described as:

Concept between broker and agent only.
Physical place where real estate transactions are conducted.
A Relationship between two or more parties (client and broker/agent) in a real estate transaction.
The Brokerage business where clients meet with agents and Broker for a real estate transaction.

1 point(s)

What are the Primary Mortgage Market?

a. Insurance Co's, Thrifts, Credit Unions, Commercial Banks, Mortgage Loan Bank
b. Fannie Mae, Freddie Mac, FSA, Ginnie Mae
c.F DIC, NCUA
d. None of the above

1 point(s)

What programs are in the Secondary Mortgage Market?

Union Secondary Market
Fannie Mae
Local Government Services Group (LGSG)
None of the above

1 point(s)

The Real Estate Settlement Procedures Act (RESPA) provides that

a. all real estate purchasers must receive their closing statements.
b. real estate advertisements must include the annual percentage rate, including all charges.
c. the borrower must be given an estimate of the closing costs before the time of the closing.
d. real estate syndicates must comply with the disclosures required by 'blue sky' laws.

1 point(s)

Who is the president elect?

a. the current president
b. new president
c. old president
d. really old president

1 point(s)

When can a real estate licensee reveal confidential information about a client?

Never
After the client agency relationship has been terminated
After the client has purchased or sold the property involved in the transaction
After the client has purchased or sold the property involved in the transaction

1 point(s)

Real Estate Agency can be described as:

Concept between broker and agent only.
Physical place where real estate transactions are conducted.
A Relationship between two or more parties (client and broker/agent) in a real estate transaction.
The Brokerage business where clients meet with agents and Broker for a real estate transaction.

Practice General Portion Exam

NEW Practice 5 Question Exam

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