CHAMPIONS SCHOOL OF REAL ESTATE REAL ESTATE
FINANCE EXAM LATEST 2024-2025 COMPLETE 170
QUESTIONS AND DETAILED SOLUTIONS
QUESTION: Sending monthly payment statements and collecting
monthly payments, maintaining payment
records and following up on delinquencies. - ANSWER-Servicing
QUESTION: The process of creating a new mortgage loan - ANSWER-Origination
QUESTION: The process of collecting information about a borrower in order to build a loan file
that will be used to make an underwriting decision - ANSWER-Loan Processing
QUESTION: The process of transferring funds to a title or escrow company for disbursement -
ANSWER-Funding
QUESTION: The process of evaluating a borrower's loan application to determine the risk
involved for the lender - ANSWER-Underwriting
QUESTION: When was the FHA created? - ANSWER-1934
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QUESTION: Who funds the FHA? - ANSWER-The FHA funds itself
QUESTION: How long is the lifespan of a $20 bill? - ANSWER-7.9 years
QUESTION: What is the "prime rate?" - ANSWER-The interest rate that is determined by
individual banks
QUESTION: Who provides VA home loans? - ANSWER-Private lenders
QUESTION: The USDA Single Family Housing Direct Home Loan is also known as ____________ -
ANSWER-Section 502 Direct Loan Program
QUESTION: In order to qualify for exemption from capital gains, the property must have been
the primary residence for two of the previous _______________ years. - ANSWER-5 years
QUESTION: A loan with no discount points is known as a _____________. - ANSWER-Par Loan
QUESTION: Relates to federal government spending - ANSWER-Fiscal Policy
approval by the Board of Governors - ANSWER-Discount Rate
QUESTION: Policy that deals with interest rates
and the supply of money in the US
economy. - ANSWER-Monetary Policy
QUESTION: Buying or selling government securities by the Federal Reserve - ANSWER-Open-
Market Operations
QUESTION: Through which avenue does the US Treasury promote economic growth?
A - Legislating tax cuts to stimulate the economy
B - Policies that support job creation
C - Giving grants to government enterprises
D - All of these - ANSWER-B - Policies that support job creation
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