Compucram - Study guides, Class notes & Summaries

CompuCram Property Valuation & Appraisal Questions with 100% Correct Answers | Latest Update 2024 | Verified

The inspection of the electrical system should begin with which of the following locations on the property? - ️️Exterior... All parts of the home inspection start on the exterior. A professional inspector delivers a home inspection report written in paragraph form based on his observations and opinions of the condition of a subject property. This form of report is known as a/an: - ️️Narrative report... A narrative report is written in paragraph form. A hornet nest on the house need...

If the buyer is assuming an existing loan on the property, which of the following is prorated at closing? correct answers interest only What law requires the lender to show the APR? correct answers reg. z In what type of installment agreement does the buyer make payments for the right to possession, but does not receive the title until most or all of the terms have been met? correct answers land contract Quiet enjoyment refers to: correct answers arrangement between landlord and tenant ...

CompuCram UPDATED Exam Questions and CORRECT Answers The owners of an undivided interest in land, with no rights of survivorship, would be considered - CORRECT ANSWER- tenancy in common What best describes ownership of a condominium? - CORRECT ANSWER- fee simple absolute What is NOT considered when determining whether an item is a fixture or personal property? - CORRECT ANSWER- value of the annexed item

Karen and David Carpenter are a team. They have one employee and four sales agents; they also enjoy flipping properties. David asks one of the sales agents to write an offer for him but to use the company name instead of his first and last name. David's offer is accepted, he puts a fresh coat of paint on the property, and then sells it for considerably more. What has David done? - Self-Dealing. Alice forgot to lock the windows that she opened to let in fresh air at her open house and the ho...

Compucram Pre Exam Questions with 100% Correct Answers | Latest Update 2024 | Verified

An objective of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is to Answer eliminate unfair practices relating to compensation paid to mortgage loan originators. The Federal Reserve Board crafted a ruling, the Federal Reserve Loan Originator Compensation Rule, which, as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, set standards to prevent unfair practices by mortgage loan originators related to compensation paid by borrowers. Lo...

Running a "blind ad" is considered an unfair practice for a licensee in Georgia for what reasons? correct answers The ad does not include the name of the listing broker Regarding a salesperson's decision to terminate an affiliation with the current employing broker, which of the following is true? correct answers Under no circumstances may the broker refuse the salesperson's termination request In Georgia, prescriptive easements may be established by the open, hostile, notorious, and c...

CompuCram PASSED Exam Questions and CORRECT Answers When is a bringdown endorsement issued? - CORRECT ANSWER- Prior to close of escrow A loan is paid in full but the release is never recorded. What is true? - CORRECT ANSWER- A cloud remains on title When an attorney gives an abstract of title, he would also give: - CORRECT ANSWER- An opinion

A $100,000 loan will be considered a section 32 loan if the the points and fees are greater than answer 5% of the loan amount Which cost would be included in the apr calculation on the closing disclosure forms? Answer mortgage insurance Which item is not included in the calculation that determines the annual percentage rate? Answer title insurance premium The right of rescission provided under regulation z is the right to answer cancel a contract Which act requires the lender to prov...