Exam (elaborations)
Champions Real Estate Finance Exam Questions and Answers 2024
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questions answered on licensed real estate agents, brokers, loan originators, home inspectors, or appraisers.
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Champions Real Estate Finance_____ is the consummation of a contractual real estate transaction in which all
appropriate documents are signed, and the mortgage loan proceeds are
disbursed by the lender. - correct answer ✔ Closing
The primary determinants of real estate values are supply and _____. - correct
answer ✔ Demand
_____ is something of value that can be pledged as security for repayment of a
loan. - correct answer ✔ Collateral
Servicing includes which of the following activities? - correct answer ✔
Maintaining records of payment
The monetary policies of the _____affects interest rates and the availability of
funds. - correct answer ✔ Federal Reserve
An excess supply of money in the market results in monetary _____. - correct
answer ✔ Inflation
Which agency insures deposits in banks and thrift institutions for up to $250,000?
- correct answer ✔ The Federal Deposit Insurance Corporation
The _____ is the interest rate a reserve bank charges eligible financial institutions
to borrow funds on a short-term basis. - correct answer ✔ Discount rate
Raising taxes and increasing borrowing are two ways at the treasury level to: -
correct answer ✔ Raise funds to pay for government spending
The Fed uses three primary monetary policy tools to influence the cost and
availability of credit: open market operations, the discount rate, and _____. -
correct answer ✔ Reserve requirements
When the costs of production and services increase, causing manufacturing prices
to rise, it is called _____. - correct answer ✔ Cost-push inflation
Which of the following transactions is exempt from RESPA? - correct answer ✔
Temporary loans
Under the _____, the use of certain terms in an advertisement triggers the need
for full disclosure of lending terms. - correct answer ✔ Truth in Lending Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act established the
_____. - correct answer ✔ Consumer Financial Protection Bureau
How can Sylvia ensure that Victor is properly licensed as an RMLO? - correct
answer ✔ She can look him up in the NMLSR
The secondary mortgage market was designed to provide greater liquidity to the
residential real estate market, primarily by _____. - correct answer ✔ The sale of
mortgage loans as investments
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