Real Estate Financing Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. In order to get a VA home loan, the eligible person must give the lender which document?

Question 2 2. Ben is obtaining FHA financing. Which of the following may be his lender?

Question 3 3. Which of the following is the role of the underwriter?

Question 4 4. What law requires that lender to provide the borrower with a copy of the GFE within a specific amount of days?

Question 5 5. The maximum possible VA loan amount is based on what guidance?

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Question 6 6. What is the minimum amount of time the veteran or surviving spouse must plan on living in a VA mortgaged home?

Question 7 7. Who is responsible for ensuring the property has clear title prior to closing?

Question 8 8. The Good Faith Estimate ___

Question 9 9. If certain fees increase before a closing, the Good Faith Estimate (GFE) must be

Question 10 10. What's the minimum down payment for FHA financing?

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Question 11 11. How are appraisers paid?

Question 12 12. When does a buyer receive a good faith estimate?

Question 13 13. What is a Good Faith Estimate?

Question 14 14. A ____ is an amount of money tacked on to the monthly loan payment on an FHA insured loan.

Question 15 15. Who among the following are paid on a salary basis?

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Question 16 16. Which of the following factors helps determine the amount of the VA funding fee?

Question 17 17. What is the difference between a mortgage broker and a loan officer?

Question 18 18. The federal housing administration ____ loans.

Question 19 19. Which of the following is correct about FHA loans?

Real Estate Financing Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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