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29. Any sale of a substantial part of inventory or other supplies and equipment associated with a business: a.  is illegal.                   b.  is a sale-leaseback.  c.  requires a PRLS license. d.  is a bulk transfer.

26. In a trust deed, the borrower is usually the: a.  trustee. b.  beneficiary.     c.  trustor. d.  none of the answers are correct.

83. Noninstitutional lenders who usually lend their own money and then sell their loans to others and service the loans are called: a.  mutual savings banks.                      b.  mortgage bankers.                c.  pension funds. d. any of the answers are correct.

14. What “American” title insurance is usually required by lenders? a.  CLTA policy    b.  ALTA policy    c.  RESPA policy d.  None of the answers are correct

78. The CLTA policy protects against: a.  acts of minors.           b.  invalid deed delivery. c.  forgery. d.  all answers are correct.

82. A mechanic’s lien can be filed against a property by someone who has furnished which of the following services? a.  Landscaping                        b.  Roofing c.  Plumbing d.  All of the answers are correct

66. To be valid, a lease need NOT include the: a.  description of the property.                 b.  length of the lease.               c.  words “let or demise.” d.  names of the parties.

1. Easements appurtenant are for the benefit of: a.  homesteaded landowners. b.  adjoining (neighboring) landowners. c.  the general public. d.  government use only.

17. Which of the following are NOT institutional lenders? a.  Banks   b.  Private individuals     c.  Insurance companies d.  Federal savings banks

33. Which of the following statements is true regarding Transaction Coordinators? a.  They organize forms.         b.  They organize disclosures               c.  They are often paid per transaction d.  All answers are correct