A-4 General Real Estate Exam Preparation National Portion, Quizzes, Vocabulary

Front 1

A-4 Recording easements do which of the following?

Back 1

A-4 Place an encumbrance on the property

Hint 1

A-4 Liens and Encumbrances

Front 2

A-4 To pledge real property as collateral is called:

Back 2

A-4 Hypothecate

Hint 2

A-4 Liens and Encumbrances

Front 3

A-4 Which of the following is an encumbrance:

Back 3

A-4 Mechanics Lien

Hint 3

A-4 Liens and Encumbrances

Front 4

A-4 All of the following would be a lien on real property except:

Back 4

A-4 Lease for years

Hint 4

A-4 Liens and Encumbrances

Front 5

A-4 What lien would be ahead of a lender's first mortgage?

Back 5

A-4 Property taxes

Hint 5

A-4 Liens and Encumbrances

Front 6

A-4 When a debt will be paid off by making constant level payments, this is called?

Back 6

A-4 Amortized loan

Hint 6

A-4 Liens and Encumbrances

Front 7

A-4 Which of the following listed below best describes the purpose of a trustee?

Back 7

A-4 Foreclose in a deed of trust

Hint 7

A-4 Liens and Encumbrances

Front 8

A-4 If a lender is doing business in a lien theory state, which of the following is true?

Back 8

A-4 Legal title is held by mortgagor

Hint 8

A-4 Liens and Encumbrances

Front 9

A-4 When a loan is secured by a deed of trust, who holds the deed of trust document?

Back 9

A-4 Beneficiary

Hint 9

A-4 Liens and Encumbrances

Front 10

A-4 Which of the following would not be part of a deed of trust?

Back 10

A-4 Habendum

Hint 10

A-4 Liens and Encumbrances

Front 11

A-4 A buyer is buying a business that includes real and personal property. the type of loan the buyer would obtain is called:

Back 11

A-4 Package*

Hint 11

A-4 Liens and Encumbrances

Front 12

A-4 Which of the following is not a security instrument?

Back 12

A-4 Note

Hint 12

A-4 Liens and Encumbrances

Front 13

A-4 When a lender agrees to change lien positions, this action is called

Back 13

A-4 Subordination

Hint 13

A-4 Liens and Encumbrances

Front 14

A-4 An open-end loan would do which of the following?

Back 14

A-4 Aloow for sums of money to be loaned as a project progresses

Hint 14

A-4 Liens and Encumbrances

Front 15

A-4 When a note and deed of trust are paid in full, the lender is required to issue a release of lien. this is called a:

Back 15

A-4 Defeasance

Hint 15

A-4 Liens and Encumbrances

Front 16

A-4 Which of the following liens has a different process than any other lien,and no money has been loaned?

Back 16

A-4 Mechanics Lien

Hint 16

A-4 Liens and Encumbrances

Front 17

A-4 Seller of a property has repair work on a home and does'nt pay the general contractor. The new buyer of the property obtains a new FHA loan that is recorded.The Mechanic not being paid by the seller, files a mechanic lien on the property. Which of the following statements is true.

Back 17

A-4 The Mechanics lien valid and has priority over the FHa loan.

Hint 17

A-4 Liens and Encumbrances

Front 18

A-4 When a homeowner sells their property to a lender but the seller remains in the property and receives regular payments from the lender this is best defined as

Back 18

A-4 Reverse annunity

Hint 18

A-4 Liens and Encumbrances

Front 19

A-4Which of the following is not synonymous

Back 19

A-4
Lessee/landlord

Hint 19

A-4 Liens and Encumbrances

Front 20

A-4 Which of the following would trigger the alienation clause

Back 20

A-4 Sale of property

Hint 20

A-4 Liens and Encumbrances

Front 21

A-4 An assignment of rents clause would most likely benefit which of the parties

Back 21

A-4 Beneficiary

Hint 21

A-4 Liens and Encumbrances

Front 22

A-4 When is a satisfaction piece used?

Back 22

A-4 When a loan is paid in full

Hint 22

A-4 Liens and Encumbrances

Front 23

A-4 In a lending agreement, who benefits from the term quiet enjoyment?

Back 23

A-4 Trustor

Hint 23

A-4 Liens and Encumbrances

Front 24

A-4 A buyer buys property for $180.000. The Property has first deed of trust for $135.000 and a second deed of trust for $100.000. The buyer will assume the second but requires that the first be paid in full. What is the order of recordation?

Back 24

A-4 Record the deed of reconveyance then the general warranty deed.

Hint 24

A-4 Liens and Encumbrances

Front 25

A-4 A loan that is paid in full at the end of the term is known as

Back 25

A-4 Amortized

Hint 25

A-4 Liens and Encumbrances

Front 26

A-4 Mr. Brown wants to purchase land with a mortagage and later on erect a building on the property. What clause should he put in the mortgage

Back 26

A-4 Subordination

Hint 26

A-4 Liens and Encumbrances

Front 27

A-4 An encumbrance that affects the use of the property would be

Back 27

A-4 Deed restriction

Hint 27

A-4 Liens and Encumbrances

Front 28

A-4 A real estate mortgage would be

Back 28

A-4 Voluntary

Hint 28

A-4 Liens and Encumbrances

Front 29

A-4 A loan you obtain in installments and payoff at maturity is called

Back 29

A-4 construction

Hint 29

A-4 Liens and Encumbrances

Front 30

A-4 What does not affect property value?

Back 30

A-4 Title Insurance

Hint 30

A-4 Liens and Encumbrances

Front 31

A-4 What does not affect property value

Back 31

A-4 Title Insurance

Hint 31

A-4 Liens and Encumbrances

Front 32

A-4 An owner puts up a fence that violates deed restrictions, whatremedy would the association take

Back 32

A-4 Take action in court

Hint 32

A-4 Liens and Encumbrances

Front 33

A-4 A loan is paid off but the lender never records the lien release

Back 33

A-4 Have a cloud on a title

Hint 33

A-4 Liens and Encumbrances

Front 34

A-4 When your time has run out to assert a claim. this is called?

Back 34

A-4 Laches

Hint 34

A-4 Liens and Encumbrances

Front 35

A-4A developer may not impose a deed restriction on which

Back 35

A-4 testifying at future zone hearings

Hint 35

A-4 Liens and Encumbrances

Front 36

A-4 When your time has run out asset a claim, this is called:

Back 36

A-4 Laches

Hint 36

A-4 Liens and Encumbrances

Front 37

A-4 all of the following are specific liens except:

Back 37

A-4 Income taxes

Hint 37

A-4 Liens and Encumbrances

Front 38

A-4 A graduated payment loan would:

Back 38

A-4 Increease in Principal amount

Hint 38

A-4 Liens and Encumbrances

Front 39

A-4 A property has a first lien of $50,000; there is a second lien of $12,00. The owners gives a quitclaim deed to the first lien holder. what is the stus of the second lien?

Back 39

A-4 Second must foreclose to protect their interest.

Hint 39

A-4 Liens and Encumbrances

Front 40

A-4 When a loan is assumed, which of the following is true?

Back 40

A-4 Original maker of the loan is primarily responsible in case of default

Hint 40

A-4 Liens and Encumbrances

Front 41

A-4 When a person pays the entire principal balance at the end of a loan period, the loan would be:

Back 41

A-4 Term

Hint 41

A-4 Liens and Encumbrances

Front 42

A-4 If a subordination clause is in a mortgage or deed of trust, this would benefit which of the following parties:

Back 42

A-4 Trustor / Mortgagor

Hint 42

A-4 Liens and Encumbrances

Front 43

A-4 In order for a junior lien to have priority, the primary lien holder would sign which of the following:

Back 43

A-4 Subordination

Hint 43

A-4 Liens and Encumbrances

Front 44

A-4 Who signs the estoppel certificate

Back 44

A-4 Borrower / lessee

Hint 44

A-4 Liens and Encumbrances

Front 45

A-4 When a mortgage is created, it must also have which of the following:

Back 45

A-4 Note

Hint 45

A-4 Liens and Encumbrances

Front 46

A-4 A loan on a property is paid in full, but the deed of reconveyance is not recorded. What is the status of the title?

Back 46

A-4 Cloud remains on the title

Hint 46

A-4 Liens and Encumbrances

Front 47

A-4 A surety bond is most likely used when?

Back 47

A-4 A title company issues Title Insurance

Hint 47

A-4 Liens and Encumbrances

Front 48

A-4 A defeasance clause would be found in a:

Back 48

A-4 Mortgage

Hint 48

A-4 Liens and Encumbrances

Front 49

A-5 A loan that is structured so additional funds could be paid out on future calls is called:

Back 49

A-4 Open-end

Hint 49

A-4 Liens and Encumbrances

Front 50

When the trust deed has been paid in full. The defeasance clause states that the full deed of reconveyance be issued by the:

Back 50

A-4 Trustee

Hint 50

A-4 Liens and Encumbrances

Front 51

A-4 What type of loan would change in payment, rate, and amount owed?

Back 51

A-4 Open-end mortgage

Hint 51

A-4 Liens and Encumbrances

Front 52

A-4 All of the following are encumbrances EXCEPT:

Back 52

A-4 Declaration of homestead

Hint 52

A-4 Liens and Encumbrances

Front 53

A-4 A buyer assumes a loan and agrees to pay. Who is ultimately responsible?

Back 53

A-4 Seller

Hint 53

A-4 Liens and Encumbrances

Front 54

A-4 What is the purpose of an Estoppel certificate?

Back 54

A-4 states the balance of the rents or mortgage due

Hint 54

A-4 Liens and Encumbrances

Front 55

A-4 A due on sale clause is a:

Back 55

A-4 Non-assumability clause

Hint 55

A-4 Liens and Encumbrances

Front 56

A-4 A term loan is

Back 56

A-4 Interest Only

Hint 56

A-4 Liens and Encumbrances

Front 57

A-4 what type of loan would you get if it included real and personal property?

Back 57

A-4 Package

Hint 57

A-4 Liens and Encumbrances

Front 58

A-4 When a lien was released but the release was not recorded, this could cause which of the following?

Back 58

A-4 CLoud on title

Hint 58

A-4 Liens and Encumbrances

Front 59

A-4Which of the following may be assigned?

Back 59

A-4 Trust deed

Hint 59

A-4 Liens and Encumbrances

Front 60

A-4 Which of the following is true regarding a long loan term?

Back 60

A-4 Higher total costs

Hint 60

A-4 Liens and Encumbrances

Front 61

A-4 Which of the following instruments do not convey title?

Back 61

A-4 Lease

Hint 61

A-4 Liens and Encumbrances

Front 62

A-4 A mortgage is:

Back 62

A-4 Security for the note

Hint 62

A-4 Liens and Encumbrances

Front 63

A-4 Mortgages would not contain:

Back 63

A-4 Subrogation clause

Hint 63

A-4 Liens and Encumbrances

Front 64

A-4 Amortizing a loan over 30 years that is to be paid in seven years is called:

Back 64

A-4 Balloon payment

Hint 64

A-4 Liens and Encumbrances

Front 65

A-4 Wehn a lawsuit is filed, it is referred to as:

Back 65

A-4Lis Pendens

Hint 65

A-4 Liens and Encumbrances

Front 66

A-4 Which of the following relates to encroachments?

Back 66

A-4 Physical in characteristic

Hint 66

A-4 Liens and Encumbrances

Front 67

A-4 Which circumstance would negate encroachment?

Back 67

A-4 Owner's permission

Hint 67

A-4 Liens and Encumbrances

Front 68

A-4 Which of the following would be considered an encroachment?

Back 68

A-4 A wall built on another's property

Hint 68

A-4 Liens and Encumbrances

Front 69

A-4 When a loan payment is made which is substantially larger than the other payments, this is referred to as:

Back 69

A-4 Balloon

Hint 69

A-4 Liens and Encumbrances

Front 70

A-4 Which of the following is a specific lien regarding real estate:

Back 70

A-4 Specail assessment

Hint 70

A-4 Liens and Encumbrances

Front 71

A-4 The document used to verify a mortgage assumption is called:

Back 71

A-4 Reduction certificate

Hint 71

A-4 Liens and Encumbrances

Front 72

A-4 A mortgage that contains release clases is called:

Back 72

A-4 Blanket

Hint 72

A-4 Liens and Encumbrances

Front 73

A-4 When a loan contains a clause calling for the outstanding balance to be paid, this clause is known as:

Back 73

A-4 Acceleration

Hint 73

A-4 Liens and Encumbrances

Front 74

A-4 If two mortgages are on the same property, which would have priority?

Back 74

A-4 First recorded

Hint 74

A-4 Liens and Encumbrances

Front 75

A-4 The evidence of the debt and the promise to pay is called the:

Back 75

A-4 Note

Hint 75

A-4 Liens and Encumbrances

Front 76

A-4 If the mortgagor has the right to obtain legal title after payment in full, this referred to as a"

Back 76

A-4 Title theory state

Hint 76

A-4 Liens and Encumbrances

Front 77

A-4 When real property is given as security but still retained by the motgagor, this is called:

Back 77

A-4 Hypothecate

Hint 77

A-4 Liens and Encumbrances

Front 78

A-4 To have a mortgage you must have a:

Back 78

A-4 Note

Hint 78

A-4 Liens and Encumbrances

Front 79

A-4 When a loan is called all due and payable the loan has a:

Back 79

A-4 Alienation

Hint 79

A-4 Liens and Encumbrances

Front 80

A-4

Back 80

A-4

Hint 80

A-4 Liens and Encumbrances

Front 81

A-4

Back 81

A-4

Hint 81

A-4 Liens and Encumbrances

Front 82

A-4

Back 82

A-4

Hint 82

A-4 Liens and Encumbrances

Front 83

A-4

Back 83

A-4

Hint 83

A-4 Liens and Encumbrances

Front 84

A-4

Back 84

A-4

Hint 84

A-4 Liens and Encumbrances

Front 85

A-4

Back 85

A-4

Hint 85

A-4 Liens and Encumbrances

Front 86

A-4

Back 86

A-4

Hint 86

A-4 Liens and Encumbrances

Front 87

A-4

Back 87

A-4

Hint 87

A-4 Liens and Encumbrances

Front 88

A-4

Back 88

A-4

Hint 88

A-4 Liens and Encumbrances

Front 89

A-4

Back 89

A-4

Hint 89

A-4 Liens and Encumbrances

Front 90

A-4

Back 90

A-4

Hint 90

A-4 Liens and Encumbrances