Free CA Real Estate Financing Questions and Answers

Question 1

A type of mortgage in which the lender makes periodic payments to the borrow, who is required to be age 62 or older in the FHA program, is called?

Accepted Answer

Reverse

Answer

Opposite

Answer

Accelerate

Answer

Deficit

Question 2

A conventional mortgage is a?

Accepted Answer

Not guaranteed by any government agency

Answer

Amortizing

Answer

Guaranteed by the FHA

Answer

Approved by the VA

Question 3

A chattel mortgage is usually given in connection with?

Accepted Answer

Personal Property

Answer

Realty

Answer

Farms

Answer

Commercial Property

Question 4

The lending of money at a rate of interest above the legal rate is?

Accepted Answer

Usury

Answer

Speculation

Answer

Both and B

Answer

Neither A nor B

Question 5

One discount point is equal to

Accepted Answer

1% of the loan amount

Answer

1% of the sales price

Answer

1% of the interest sale

Answer

None of the above