Practice Quiz

Illinois Real Estate Exam - Question List

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41.

The amount paid by a mortgagor for mortgage insurance, either government or private is called:

  1. Mortgage insurance premium
  2. Private mortgage insurance premium
  3. FHA insurance premium
  4. VA insurance premium
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42. Which of the following real estate syndicates requires 100 or more investors:
  1. Limited partnership
  2. Joint venture
  3. Corporation
  4. Real Estate investment trust
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43. The term “note rate” refers to:
  1. the speed at which a musician plays scales
  2. the interest rate stated on a mortgage note
  3. the interest rate stated on a personal loan
  4. the rate at which a note is amortized
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44. Which of the following would normally install conduit?
  1. Plumbers
  2. Electricians
  3. Roofers
  4. Carpenters
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45. One who establishes the value of a property for taxation purposes is called:
  1. a government tax appraiser
  2. an assessor
  3. an appraiser
  4. all of the above
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