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Superior NC Real Estate Important Final Exam Questions and Answers RESPA -Answer--Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) -Answer-C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The borrower is...

SUPERIOR SCHOOL OF REAL ESTATE (NC REAL ESTATE PRELICENSING)

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NC Real Estate Exam Questions Which statute governs the ad valorem taxation of property? A. Machinery Act B. General Statute C. The Ad Valorem Act D. Real Estate Taxation Act - A. Machinery Act This act provides a framework for listing, appraising, and assessing real and personal property Which type of valuation technique applies a standard percentage increase or decrease to all property in a specified location? A. Valuation B. County appraisal C. Mass appraisal D. There is...

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Superior School of Real Estate (NC Real Estate Prelicensing) – Questions & Answers

Superior School of Real Estate (NC Real Estate Prelicensing) Exam