ASREB National Test A-4 Questions and Answers 100% Verified
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Course
ASREB
Institution
ASREB
ASREB National Test A-4 Questions and Answers 100%
Verified
Recording easements do which of the following?
Place an encroachment on the property
Place an encumbrance on the property
Place a lien on the property
Places a deed restriction on the property Answer-Place an encumbrance on the prope...
ASREB National Test A-4 Questions and Answers 100%
Verified
Recording easements do which of the following?
Place an encroachment on the property
Place an encumbrance on the property
Place a lien on the property
Places a deed restriction on the property Answer-Place an encumbrance on the property
To pledge real property as collateral is called:
Hypothecate
Devise
Demise
Descent Answer-Hypothecate
Which of the following is an encumbrance?
Assignment
License
Note
Mechanics lien Answer-Mechanics lien
All of the following would be a lien on real property EXCEPT:
Lease for years
First mortgage
, ASREB National Test A-4 Questions and Answers 100%
Verified
Property Taxes
Property Assessment Answer-Lease for years
What lien would be ahead of a lender's first mortgage?
Mechanics Lien
Property taxes
Special Assessment
Judgment Answer-Property Taxes
When a debt will be paid off by making constant level payments, this is called:
Interest only
Blanket loan
Graduated payment
Amortized loan Answer-Amortized loan
Which of the following listed below best describes the purpose of a trustee?
Hold the note in a mortgage
Foreclose in a deed of trust
Act as a lender in an agreement for sale
Enforce property deed restrictions Answer-Foreclose in a deed of trust
, ASREB National Test A-4 Questions and Answers 100%
Verified
If a lender is doing business in a lien theory state, which of the following is true?
Legal title is held by the beneficiary
Legal title is held by the mortgagee
Legal title is held by mortgagor
Legal title is held by the trustor Answer-Legal title is held by mortgagor
When a loan is secured by a deed of trust, who holds the deed of trust documents?
Mortgagee
Mortgagor
Trustor
Beneficiary Answer-Beneficiary
Which of the following would not be part of a deed of trust?
Alienation
Defeasance
Acceleration
Habendum Answer-Habendum
A buyer is buying a business that includes real and personal property. The type of loan the buyer
would obtain is called:
Blanket
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