Read 'Chapter 1: The Professional Loan Broker' & answer the following question(s): |
1. | Who does not use a Loan Broker’s service? |
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2. | What type of loans cannot be classified as specialization? |
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3. | Why does a broker request information about the client’s present negative financing? |
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4. | _____________________ does not determine the fee charged for a loan? |
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Read 'Chapter 2: Loan Packaging' & answer the following question(s): |
5. | What is not a typical loan-packaging Service? |
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6. | What is not a component of the five C’s? |
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7. | Secured debt is considered to be? |
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8. | Commercial finance can be divided into two main categories |
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9. | Alternative methods to traditional bank financing are |
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10. | What is not a basic factoring plan? |
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11. | Factoring frees client management from |
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12. | Equipment financing is composed of two categories |
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13. | _________________ is not a leasing language |
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14. | Most equipment leases can be described as |
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15. | Leasing advantages do not include |
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16. | A sale-leaseback is a financial transaction which provides a borrower with immediate cash and with the no tax-deductible benefits. |
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17. | Sources of business capital do not include |
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18. | Venture capitalists and individual investors typically will finance a significant portion of your capital needs, but in return they require around 10% annual return on their investment. |
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19. | When dealing with venture capital (VC) firms, you must keep in mind the following suggestion(s) except |
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Read 'Chapter 3: Commercial Finance' & answer the following question(s): |
20. | For borrowing money, lenders look for security in your assets and cash flow regardless of your character. |
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21. | Service Corps of Retired Executives is a commercial organization of business mentors and counselors (www.score.org). |
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22. | The Internet can help you simplify the first step in your search for equity or venture capital by getting your business plan in front of potential investors. |
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23. | ______________________ is an example of personal property. |
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24. | Underwriting a loan application is an objective analysis of evaluating the degree of risk inherent in a loan. |
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25. | _________________________ is normally not included in the loan verification process |
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26. | The federal law requires lenders to treat all loan applicants equally. The law is |
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27. | As opposed to conventional loans, FHA/VA loans normally have |
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28. | Lender/Agencies include all but |
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29. | Which of the following is not considered a major secondary market? |
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30. | Lenders normally offer their best terms for |
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Read 'Chapter 4: Factoring' & answer the following question(s): |
31. | ______________________ is not an objective of the HUD-FHA. |
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32. | A FICO (an acronym for Fair, Isaac & Company), or credit score is a computer-generated numerical grade that predicts a lender’s risk in doing business with a borrower. This is used exclusive for mortgage loans. |
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33. | Which one of the following is not a factor in determining FICO scores? |
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34. | Lenders take a greater risk with special use property. But they do not insist on |
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35. | Exhibits to be furnished for an apartment loan application do not require |
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36. | The term lenders use to describe the relative amount of money they will loan on a given piece of property is the |
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37. | For one seeking financing on construction, the best possible institutional source of financing would be |
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38. | The most likely permanent construction loan source for office building would be |
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39. | ________________ is not a basic type of financing. |
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40. | A large residential tract builder seeking construction funds most likely would seek financing from |
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41. | Regulating the loan policies of national banks is the |
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Read 'Chapter 5: Equipment Leasing' & answer the following question(s): |
42. | Usury occurs when the lender |
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43. | The annual percentage rate (APR) is the annual cost of credit and is |
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44. | Which of the following must be disclosed as a finance charge under Regulation Z? |
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45. | Which of the following is commonly referred to as Regulation B? |
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46. | With respect to credit reports, an applicant may |
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47. | In order to prevent the practice of redlining and divestment in central city areas, Congress passed the ________________. |
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48. | The Community Reinvestment Act Statement must contain |
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49. | The largest source of funds for home loans comes from |
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50. | Mortgage bankers may be involved in the following activities except |
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51. | A loan for $645,500 would be considered a |
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52. | Funds to finance Freddie Mac (FHLMAC) operations and mortgage purchase programs come from |
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53. | Freddie Mac purchase loans from |
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54. | A firm that specializes in the details of loan origination is known as what? |
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55. | GNMA receives its funds from |
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56. | Private mortgage insurance (PMI) typically needs to be carried |
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57. | Ordinarily the best source for obtaining construction financing is the |
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58. | The role of the FHA is to |
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59. | The money in a VA loan comes from |
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60. | In order to qualify for VA entitlement, a veteran needs to apply for |
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61. | Private mortgage insurance claims are paid by |
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62. | "Balloon payment" is a term commonly associated with |
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63. | Standard home loans that are not insured or guaranteed by an agency of the U.S. government are referred to as what? |
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64. | A wraparound mortgage |
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65. | If the buyer of a home wanted to include in the terms of a mortgage the financing of such items as a stove, refrigerator and air-conditioning, the mortgage used would be a (an) |
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66. | Which of the following statements is false about a participation mortgage? |
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67. | Under ______________ the interest rate charged by the lender can vary according to some reference index not controlled by the lender, such as the interest rate on 1-year United States T-bills or the 11th District Cost of funds Index. |
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68. | A type of mortgage where a buyer pays a seller monthly and the seller pays the lender is. |
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69. | A note where payments are adjusted over time is most likely to be |
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70. | In reverse mortgage, the homeowner has the option to receive |
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71. | Which of the following is not a potential type of index interest rate used in an adjustable rate mortgage? |
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72. | Under __________________, the homeowner has the option to receive monthly payments, a lump sum payout, a line of credit, or any combination. |
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73. | Which of the following is an example of real assets? |
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74. | A principal disadvantage of real estate is that it does not provide a hedge against |
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75. | Using your credit to purchase an asset (such as property or stocks) of substantial appreciation is called |
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76. | Current income is derived from income property by |
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77. | The return on investment typically comes from two sources: __________ and current income. |
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78. | An advantage to buying a home to the person who is to occupy it as his or her personal dwelling is its |
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79. | Which of the following is not an advantage of buying over renting? |
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80. | The home price should not exceed ___________________ your family’s annual gross income. |
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81. | Reasons for investing in real property do not include |
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82. | Depreciation taken as a deduction on annual income tax is a form of |
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83. | Which of the following is a disadvantage of real estate investing? |
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84. | Investment techniques that persons in high income brackets use for the purpose of reducing income tax liability through tax loss write-offs are known as |
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85. | The market value of property less all liens and charges against the property is referred to as |
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86. | Disadvantages of investing in real property do not include which of the following? |
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87. | The principle of maximizing the use of other people's money (OPM), providing a large percentage of return on a relatively small outlay is called |
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88. | _______________ is not a type of real estate investment property: |
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89. | Real Estate Investment Trusts (REIT) are characterized as |
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90. | ____________________ is not an advantage of a REIT. |
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91. | REITs differ from other real estate investments because |
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92. | The amount to be deducted from potential gross income to allow for vacancies should be |
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93. | Specialists in marketing of income properties generally apply which of the following approaches to valuation? |
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94. | If the capitalization rate is 9 percent and the net operating income is $150,000.00, the indicated value would be |
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95. | Leverage is best illustrated by which of the following? |
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96. | As the degree of risk increases, the income generated by a piece of property will be capitalized at a |
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97. | A previously appraised building with a net income of $5,000 was valued at $50,000. What is the current estimate of value if the capitalization rate has increased by one percentage point? |
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98. | Which of the following will result in a capitalization rate of 20%? |
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99. | Certain terms used in real estate investments have applications similar to those used in security analysis. For example, the price-earnings (P/E) ratio found in the analysis of stocks is equivalent to _____________ in real estate investment analysis. |
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100. | The ____________________ is the interest rate which is charged business borrowers having the highest credit rating. |
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Read 'Chapter 6: Estates' & answer the following question(s): |
Read 'Chapter 7: Deeds' & answer the following question(s): |
Read 'Chapter 8: Apartment Loan Underwriting Guidelines' & answer the following question(s): |
Read 'Chapter 9: Shopping Centers' & answer the following question(s): |
Read 'Chapter 10: Real Estate Financing And Investment' & answer the following question(s): |