Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
30 Cards in this Set
- Front
- Back
|
An agreement between party A granting party B the right to offer, sell, or distribute goods or services under a marketing plan described by party A is commonly known as
|
A franchise agreement
|
|
|
A lender May also be called a
|
Beneficiary
|
|
|
The purpose of the Truth-in-lending act is to
|
Assure a meaningful disclosure of credit terms
|
|
|
When lenders use the term "debt-income ratio" which of the following is referring
|
a loan qualifying tool
|
|
|
The conscious charging by a private lender of more than the maximum of interest allowed by law is known as
|
usury
|
|
|
Under the Federal Truth in lending Law, cost of credit on certain loans is expressed as
|
An annual percentage rate
|
|
|
Which of the following pairs of words are synonymous
|
Construction loan, interim loan
|
|
|
If an advertisement is placed in a news paper advertising a house for sale, and only the annual percentage rate is stated
|
Number of payment must be included
|
|
|
when used in relationship to real estate loans, the term impounds most nearly means
|
reserves
|
|
|
A prospective borrower, black race, was refused a loan by a lender. The lender gave her with conditions (high interest, race) she refused to make a loan which of the following that lender is true
|
court Action, settle with the credit report agency, make credit report agency pay compensation plus attorney fees
|
|
|
LTV Ratio is
|
Loans as a percent to appraised value
|
|
|
conversion of apartments to condominiums comes within the provisions of the California subdivided Land Acts when they contain
|
Not more than four
|
|
|
A developer can use the Improvement Act of 1911 as amended to raise funds for all of following purposes, EXCEPT
|
to provide for drainage
|
|
|
The Three steps of phases involved in building a single family dwelling such as
|
Land acquisition, development and construction
|
|
|
When an existing contract is voidable, then terms, conditions which is signed by offeree. which of the following is "true contract"
|
Novation
|
|
|
What standard agreement represents bwtween principal and broker for an exclusive right to sell listing on real property
|
Maximum or Minimum time period is agreed between the broker and principal in writing agreement
|
|
|
The buyer's earnest money deposit may be
|
promissory note, post-dated check and anything that the seller considers value
|
|
|
If a seller no longer desires the broker to act for him during the time of an exclusive right to sell listing seller can
|
Revoke broker created by the selling contract by may be liable for damages
|
|
|
A Listing agreement is
|
A promise for a promise, bilateral contract and an employment contract
|
|
|
mark made an offer which the seller accepted, however seller changed a term of the offer as he made his acceptance. It would be as
|
counter offer
|
|
|
Which of the following would be an example of economic obsolescence
|
Incompatible land use in the neighborhood
|
|
|
When appraising real property, the appraiser attempts to estimate value. the value arrived at by appraiser is
|
Base upon an analysis of facts as of a given and specified date
|
|
|
which of the following is the name of sheet metal which is used to protect a property from water seepage
|
Flashing
|
|
|
Turn Key projects are
|
construction projects that is ready for occupancy
|
|
|
The type of depreciation that would be the most difficult to cure
|
Economic obsolescence
|
|
|
And appraiser would define depreciation as
|
Loss in value from any cause
|
|
|
Linda applied for a real estate loan. The loan application requested her to disclose her race and marital status. What can she do?
|
Sue the lender and the real estate broker
|
|
|
Which of the following is the largest in area
|
1 acre
|
|
|
Certified copies of inspection reports filed by structural pest control operators with the structural Pest control Board with the preceding 2 years can be obtained upon request and the payment of a fee by
|
any person
|
|
|
the maximum sum lawfully payable from the real estate recovery found account to the owner with the 25,000 claim is
|
20,000
|
