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Question
Regulation Z requires a lender to disclosea. interest charges expressed as dollars and percent.
b. dollar amount of any finance charge.
c. APR as a dollar amount.
d. all charges only as a percent.
Answer
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Related questions
Q:
The term "undivided interest" means
a. each co-owner has the right to use the entire property.
b. when one co-owner dies, the remaining co-owners acquire his interest.
c. the property has not previously been sold.
d. no co-owner can sell his interest.
Q:
A deed grants a parcel of land to Betty and Art, with no further distinction as to tenancy. Betty and Art would own the property as
a. joint tenants.
b. community property.
c. partners.
d. tenants in common.
Q:
Which of the following forms of property ownership offers the greatest flexibility for the investor wishing to sell his interest?
a. Limited partnership
b. Joint tenancy
c. Ownership in severalty
d. General partnership
Q:
Ownership in severalty occurs when
a. two or more persons have identical interests in the same property concurrently.
b. husband and wife share ownership of the same property.
c. property is owned by one person.
d. two or more persons own the same property in any form of title.
Q:
When real property is taken by means of eminent domain, the government has to pay the landowner fair market value.
Q:
A property owner leases a house to a tenant until a buyer is found for the house. Such a tenancy is called a
a. periodic tenancy.
b. tenancy at will.
c. tenancy in common.
d. tenancy for years.
Q:
Which of the following is a non-freehold estate?
a. Tenancy by the entirety
b. Tenancy for years
c. estate held by a remainderman
d. Estate in reversion
Q:
Which of the following is a lien on real property?
a. Paid property taxes
b. Easements
c. Mortgages
d. Right of way
Q:
The government receives the authority to take the property of one who dies without a will and without heirs by virtue of
a. laws of agency.
b. eminent domain.
c. police power.
d. escheat.
Q:
The power of governments to appropriate private property for the public welfare is known as
a. zoning.
b. eminent domain.
c. appropriation.
d. police power.
Q:
The power of _________________________ can be used to take land for a public road, public parking or an irrigation district.
Q:
An easement may be created by a written document granting the right to another.
Q:
If a listing agreement mentions a refrigerator as part of real estate offering it should still be mentioned in the ____________________.
Q:
Timber on land becomes ____________________ property.
Q:
One acre contains most nearly 42,000 square feet.
Q:
Comparing sections and townships, a township is 6 square miles.
Q:
Monuments and points of beginning are used with the metes and bounds type of land description.
Q:
How many acres does a parcel of land 660- by 660- contain?a. One-eighth acreb. One acrec. Ten acresd. One hundred acres
Q:
A parcel of land contains 1,020 square yards. The front foot measurement is 80-. How deep is the parcel.a. 114.75-b. 38.25-c. 127.5-d. 816-
Q:
Of the following described properties, which contains the smallest amount of land?a. 1/2 of a sectionb. One mile by one milec. 1/4 of 1/4 of a sectiond. 320 acres
Q:
Within any given township, section 18 can be found
a. east of section 13.
b. west of section 17.
c. north of section 3.
d. south of section 27.
Q:
Easements, rights of way, and condominium parking stalls are examples of
a. emblements.
b. trade fixtures.
c. riparian rights.
d. appurtenances.
Q:
The best determinant of whether an item is real or personal property is
a. the intent of the parties.
b. its size and weight.
c. its value.
d. the appraiser's opinion.
Q:
Regarding real property,
a. mineral rights must run with the land.
b. air rights can be granted by deed.
c. annual crops are considered real property because they are attached to the land.
d. man made buildings are not part of the real property.
Q:
Which of the following are considered to be real estate?
a. Trade Fixtures
b. Emblements
c. Mulberry bush
d. Garden hose
Q:
a. Amortized loan k. Loan origination feeb. Amortization tables l. Loan-to-value ratioc. Balloon loan m. Maturityd. Budget mortgage n. Partially amortized loane. Conventional loan o. PITI paymentf. Discount point p. PMIg. Equity q. Pointh. FHA r. Principali. Impound account s. Term loanj. Loan balance table t. UFMIP1> balance owing on a loan2> a loan that requires the borrower to pay interest only until maturity, at which time the full amount of the loan must be repaid3> refers to a monthly loan payment that includes principal, interest, property taxes, and property insurance4> an escrow or reserve account into which the lender places the borrower's monthly tax and insurance payments5> one hundredth of the total amount; 1% of a loan6> a loan requiring periodic payments that include both interest and principal7> a payment that is larger than any of the previous payments8> the end of the life of a loan9> a loan with a series of amortized payments followed by a balloon payment at maturity10> shows the principal still owing during the life of a loan11> a table showing the monthly payments required to completely pay off a loan12> a one-time charge by the FHA for insuring a loan13> a private mortgage insurance source to insure lenders against foreclosure loss14> the expenses a lender incurs in processing a mortgage loan15> a mortgage wherein the borrower pays principal, interest, taxes and insurance in the same payment16> the market value of a property less the debt against it17> Federal Housing Administration18> a percentage reflecting what a lender will lend divided by the sale price or market value of the property, whichever is less19> real estate loans that are not insured by FHA or guaranteed by the VA20> a charge by a lender that will allow them to sell the loan in the secondary market at a discount
Q:
a. actual eviction k. month-to-month leaseb. assignment l. net leasec. constructive eviction m. on-site managementd. contract rent n. participation clausee. CPM, RPA o. percentage leasef. gross lease p. rent concessiong. holdover tenant q. security deposith. landlord-tenant laws r. step-up renti. lessee s. sublesseej. lessor t. sublet1> the landlord2> the tenant3> partial transfer of rights held under a lease4> complete transfer of rights held under a lease5> one who holds a tenancy at sufferance6> example of a periodic estate7> specified rent increases at various points in time during the life of the lease8> a lease clause that allows the landlord to add to the tenants rent any increase in expenses during the life of the lease9> a lease where the amount of rent paid is related to the income the lessee obtains from the use of the premises10> describes leases wherein the tenant pays a fixed rent11> statutes that set forth the responsibilities and rights of landlords and tenants12> a lease wherein a tenant pays a base rent plus maintenance, property taxes, and insurance13> the party acquiring possession under a sublet agreement14> nonpayment of rent would be grounds for this15> the amount of rent the tenant must pay the landlord as stated in the lease agreement16> an unfit premises would be grounds for this17> an advance deposit given by a tenant to a landlord against which the landlord can deduct for unpaid rent or damage18> a premium, such as a free month's rent, given to entice a prospective tenant to sign a lease19> a resident manager would be in this category20> professional designations for property managers
Q:
a. 30-day month k. HUD settlement statement (HUD-1)b. beneficiary statement l. loan escrowc. CC&Rs m. offset statementd. closing date n. outside of the closinge. closing meeting o. proratef. deed delivery p. RESPAg. dry closing q. settlement meetingh. escrow agent r. settlement statementi. escrow closing s. title closingj. good faith estimate t. walk-through1> when seller and buyer meet in person to close a real estate transaction2> statement by an owner or lienholder as to the balance due on an existing lien against the property3> conditions, covenants, and restrictions of a condominium, cooperative, or a planned unit development4> a custom in some states of using a 30-day month to simplify proration calculations5> an accounting of funds to the buyer and seller at the completion of a real estate transaction6> deposit of documents and funds with a neutral third party plus instructions as to how to conduct the closing7> the moment at which title passes from the seller to the buyer8> to divide the ongoing income and expenses of a property between the buyer and the seller9> a federal law that deals with procedures to be followed in certain types of real estate closings10> the person or firm in charge of an escrow11> an escrow for the purpose of financing a property not in connection with a sale12> refers to closing costs paid by the buyer or seller that did not go through the closing agent13> a list of anticipated closing costs given to the borrower by the lender as required by RESPA14> federally related lenders are required to use this particular closing statement format15> the day on which the closing is finalized. Also called the settlement date16> a meeting at which the buyer pays for the property and receives a deed for it; also called a settlement meeting17> a final inspection of the property just prior to the settlement date18> the process of completing a real estate transaction19> shows the unpaid balance on a loan and is provided by the lender20> a method to avoid rescheduling a closing meeting when a document, known to be on its way, has not yet arrived
Q:
a. adjusted sales price k. front-foot basisb. ad valorem tax l. improvement districtc. amount realized m. installment methodd. appropriation process n. long-term capital gaine. assessed value o. mill ratef. assessment appeal board p. public improvementg. assessment roll q. special assessmentsh. basis r. tax certificatei. conveyance tax s. tax deedj. documentary tax t. tax lien1> a tax expressed in tenths of a cent per dollar of assessed valuation2> according to value3> a document issued at a tax sale that entitles the purchaser to a deed at a later date if the is not redeemed4> the enactment of a taxing body's budget and sources of money into law5> a book that contains the assessed value of each property in the taxing district6> a document conveying to property purchased at a tax sale7> a value placed on a property for the purpose of taxation8> assessments levied to provide publicly built improvements that will primarily benefit property owners within a small geographical area9> a charge or levy based directly on the measured distance that a parcel of land abuts a street10> sales price of a property less fix-up costs and sales commissions, closing and other selling costs11> a preferential income tax treatment on the sale of an appreciated asset before 198712> sale of an appreciated property structured to spread out the payment of income taxes on the gain13> hears complaints from property owners regarding their assessments14> a state or local tax charged on deeds at the time of recording15> the geographical area which will be assessed for a local improvement16> an improvement that benefits the public at large and is therefore financed by general property taxes17> a charge or hold by a government against property to ensure the payment of taxes18> the price paid for property; used in calculating income taxes19> a fee or tax on deeds and other documents payable at the time of recordation20> selling price of a home less selling expenses
Q:
A man bought a home two years ago and sold it a year later. You would expect to find his name and a reference to the home in the mortgagee index.