Practice Quiz

Real Estate Agent / Broker / Salesperson Exam Prep - Question List

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36. If you go to a bank or mortgage company to apply for a home, what type of mortgage would you be applying for?
  1. Government
  2. Conventional
  3. American
  4. Adjustable rate
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37. If a veteran is eligible for a VA loan, he or she would receive a document from the VA called:
  1. Certificate of Authenticity
  2. Certificate of Approval
  3. Certificate of Met Requirements
  4. Certificate of Eligibility
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38. The security of a loan made on real property depends upon:
  1. The borrower’s credit
  2. The value of the property being liened
  3. The stability and value of money
  4. All of the above
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39.

If a lender agrees to make a loan to a specific borrower on a specific property, they have made a:

  1. Decision to make the loan
  2. Statement that both the buyer and the property pass inspection
  3. Firm commitment
  4. All of the above
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40. A title search of a property would show the following to be true:
  1. the seller is the legal owner of the property
  2. there are no liens or other claims against the property
  3. the previous owners came over on the Mayflower
  4. both A and B
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