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Kansas Real Estate Test Practice Questions and Answers
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Kansas Real Estate Test Practice Questions and Answers In deciding on whether to make a residential home loan, a lender would normally consider the borrower's - ANSWER-debt to income ratio A property sold for $200,000 with an 80% loan to value ratio. The lender charged 1 discount point in conn...

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  • November 4, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • kansas real estate test practice questions and ans

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  • Real Estate
  • Real Estate

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KaylinHoffman

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




Kansas Real Estate Test Practice

Questions and Answers


In deciding on whether to make a residential home loan, a lender would normally consider the

borrower's - ANSWER✔✔-debt to income ratio


A property sold for $200,000 with an 80% loan to value ratio. The lender charged 1 discount point in

connection with the loan. What was the amount for the discount points? - ANSWER✔✔-$1,600


A buyer is inquiring as to what the principal and interest payment will be on a property that is being

purchased. Where would be the best place for the buyer to obtain this information? - ANSWER✔✔-Look

on the Closing Disclosure (CD)


A seller and buyer agreed on the sale and purchase of a piece of real estate with closing to take place in

30 days. Prior to closing, the lender informed the buyer that the APR was going to change by 0.3%.

Which of the following statements would be true regarding this situation under TRID guidelines? -

ANSWER✔✔-A revised Closing Disclosure would need to be issued regarding the change in APR


What is the purpose of a broker preparing a closing statement for the buyer and seller at closing? -

ANSWER✔✔-To provide the buyer and seller with an accounting of all funds related to the transaction


A person owned a property next to a stream. The owner's rights to use the stream are referred to as: -

ANSWER✔✔-Riparian


Which of the following would best describe the term equity of redemption? - ANSWER✔✔-The right of a

debtor to receive property back by paying the debts and any other related costs.

Copyright ©Stuvia International BV 2010-2024 Page 1/12

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


A seller and buyer agreed on the sale and purchase of a house. As part of the agreement, the buyer was

to take over liability for the seller's existing loan as well as the payments. This type of arrangement

would be called a(n): - ANSWER✔✔-loan assumption


A builder obtains a blanket mortgage to build homes in a new subdivision. The builder wants to sell off

just one of the newly built homes. Regarding the sale of the one property, which of the following would

be outside the parameters of the blanket mortgage? - ANSWER✔✔-The one property can be released

from the blanket mortgage if a set amount of money is paid down on the loan


Which of the following would be an example of wetlands? - ANSWER✔✔-Mossy vegetation in a field


Which of the following might lead to contamination of ground water where a property contained an

underground storage tank? - ANSWER✔✔-Overfills and spills


An owner of a residential home believed the property might contain lead-based paint. If the seller

wanted to sell the property, which of the following statements would be true? - ANSWER✔✔-The seller

would have to disclose this to any potential purchaser


A bathroom inside a home was deemed to be too airtight. This might lead to problems concerning: -

ANSWER✔✔-Mold


Under the 1986 Amendment Act under CERCLA, who is responsible for an environmental violation? -

ANSWER✔✔-The current property owner


According to the 1988 Amendments to the Federal Fair Housing Act, which of the following persons

would be protected or covered? - ANSWER✔✔-A person who has HIV/AIDS


Under fair housing laws, a handicap would best be described as a person: - ANSWER✔✔-With a mental

disability that impairs one of life's major functions

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