7) If the lender requires 8 months of taxes and 5 months of hazardous insurance to establish the
escrow account, how much would the buyer have to pay if the annual tax bill was $1900 and the
annual hazardous insurance is $850?
a) $2354.76
b) $1620.84
c) $1273.67
d) $2750.00 - answer✔b) $1620.84
$1,900. = $158.33
$158.33 X 8 = $1,266.67 8 months of taxes
$850. = $70.83
$70.83 X5 = $354.17
$1,266.67 + $354.166 = $1,620.84
9) What is the broker responsible for over a licensed real estate agent?
a) Controlling the amount of work the salesperson does
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