Va loan requirements - Study guides, Class notes & Summaries
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3 hour final Exam ( MI sales person PSI exam) QUESTION AND ANSWER GRADED A+
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1. A veteran buying a home from a for sale by owner and financing it with a VA loan can do 
all of the following except: 
Immediately rent the home after closing to make the monthly payments 
2. After Charlie's death, his will indicates that all of his real property must go to charity what 
can Charlie's wife do? 
Nothing 
Brainpower 
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3. Two Brokers decide to go broke 60/40 in favor of the listing broker, and each broker split 
50 Dash 50 with his sales person. How much will the listi...
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VA State Life Insurance and Annuities Questions and Answers Already Passed
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VA State Life Insurance and Annuities 
Questions and Answers Already Passed 
 
Which of these arrangements allows one to bypass insurable interest laws? investor 
originated life insurance 
 
Which of these is an element of a Variable Life policy? a fixed, level premium 
 
What does the insuring agreement in a Life insurance contract establish? an insurer's basic 
promise 
 
A person who issues false written or oral statements that are maliciously critical of the financial 
condition of an insur...
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Champions Real Estate Finance Exam Questions and Answers 2023
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_____ 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. - Answer- Closing 
 
The primary determinants of real estate values are supply and _____. - Answer- Demand 
 
_____ is something of value that can be pledged as security for repayment of a loan. - Answer- Collateral 
 
Servicing includes which of the following activities? - Answer- Maintaining records of payment 
 
The monet...
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California: Real Estate Principles final exam
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C. Net Listing - Answer- Which of the following listing agreements is illegal in most states? 
Open Listing 
Exclusive Agency Listing 
Net Listing 
Agency Coupled with Interest 
 
C. The Cal-Vet loan program requires that the veteran have served a minimum of 90 days' active duty; provide Statement of Service if on active duty (or an honorable discharge if he is no longer active); and be willing to buy a California home or farm. Barney would appear to qualify, based on the given information. - A...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - Answer- The process of creating a new mortgage loan 
 
U...
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TREC Promulgated Contract Forms #351 Final Exam 2023
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In the State of Texas who is allowed to use a customized real estate contract? 
The real estate brokerage company 
The salesperson 
The broker 
Lawyers licensed to practice in Texas - Answer- Lawyers licensed to practice in Texas 
 
Marcy is 17 and married. Her spouse is stationed in the Middle East. She purchased a home shortly before Stan, her husband returns to the United States. Select a problem that exists with this situation. 
Offer and acceptance issue 
Competency issue 
Consideration iss...
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Champions Real Estate Finance (Exam Review)Rated 100% Correct!!
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Champions Real Estate Finance (Exam Review)Rated 100% Correct!!
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Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass
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Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass On an FHA loan the upfront MIP should be included when calculating cash-to-close. False 
The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False 
A 3-Year ARM adjusts every 3 years True 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. False 
A HELOC loan has an interest only payment ...
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XINNIX FLIGHT SCHOOL QUESTIONS & ANSWERS RATED 100% CORRECT!!
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Choose the relationship between the name of the report and mortgage interest rate tendencies - 
When CPI goes up, rates tend to go up; when the GDP goes down, rates tend to go down; when 
the unemployment rate goes up, rates tend to go down. 
Although the appraiser makes the value determination, it is up to the processor to assess the appraisal 
report and to make sure that the property is acceptable collateral for the loan. - False 
A borrower may have more than one FHA loan at the same time. -...
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Xinnix Final Exam Questions With Answers
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Xinnix Final Exam Questions With Answers 
On an FHA loan the upfront MIP should be included when calculating cash-to-close. 
False 
 
 
The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) 
False 
 
 
A 3-Year ARM adjusts every 3 years 
True 
 
 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. 
False 
 
 
A HELOC loan has an interest only payment 
True 
 
 
...
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Champions School of Real Estate - Real Estate Finance Latest Update Rated A+
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Champions School of Real Estate - Real 
Estate Finance Latest Update Rated A+ 
 
A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) Non- 
Conforming Loan 
 
VA Veteran's administration - assists veterans in the purchase of housing by guaranteeing 
loans) 
 
Seller's equity Cash price minus the loan balance 
 
A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific 
lots by making required lump sum payments. Release Clause 
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