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21. The primary market is made up of:a. first-time homebuyers.                    b. federal agencies.             c. local lending institutions.               d. none of the above.    

45. In a loan with negative amortization, the balance owed:a. decreases over time.        b. increases over time.         c. remains the same.           d. none of the above.

56. A clause in a finance instrument that allows a lender to demand immediate payment in the event of a default by the borrower is called a(n):a. prepayment clause.                                           b. alienation clause.                                            c. acceleration clause.d. none of the above.

64. A loan that meets the standards of the secondary market (Fannie Mae and Freddie Mac) is called a:a. government loan.b. nonconventional loan.                                                     c. conforming loan.d. nonconforming loan

23. Doing accounting necessary for a loan is known as:a. loan servicing.b. loan warehousing.c. arbitrage.d. marking to market.

29. A declaration of default and election to sell is prepared by the trustee for the benefit of the:a. a tenant.                  b. a sheriff.                      c. a borrower.             d. a lender.

22. In a promissory note, the borrower is called the:a. payee.                       b. maker.                     c. beneficiary.               d. none of the above. 

18. In a seller’s market:a. supply exceeds demand.       b. demand exceeds supply.            c. home prices decline.             d. none of the above.

11. A borrower seeking a conventional loan with a larger LTV than the traditional ratio is required to:  a. have a cosigner on the loan.                              b. make a 50% down payment.   c. be over the age of 55.   d. carry private mortgage insurance.

Pedophilic disorder first emerges during ______.