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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 ______.

65. The minimum requirement in needed repairs for an FHA 203k loan is:a. $20,000.            b. $10,000.                            c. $5,000.             d. none of the above.             

50. Who is responsible for supervising the Truth in Lending Law?a. The Federal Bureau of Investigation (FBI)b. The Consumer Financial Protection Bureau (CFPB)c. The United States Treasuryd. The United States Attorney General

14. The Fair Credit Reporting Act:a. does not pertain to real estate transactions.b. does not pertain to unmarried individuals.c. requires credit reporting agencies to remove all adverse information over 7 years old except for     bankruptcies and foreclosures.d. does not pertain to collection accounts.