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79. Banks will make loans for: a.  first trust deeds.                 b.  construction.               c.  home improvement. d.  all answers are correct.

31. Rental agreements are designed for estates: a.  from period-to-period.                  b.  for no more than 10 years.              c.  in escrow. d.  any of the answers are correct.

48. What must a potential listing agent do if a seller requires the agent to discriminate? a.  Discriminate   b.  Charge a higher commission          c.  Refuse the listing d.  Make a citizen’s arrest

92. The most common reason to terminate a lease or rental agreement is: a.  condemnation.           b.  unlawful detainer.      c.  expiration of the term. d.  destruction of the premises.

44. The most difficult part of the cost approach is: a.  finding a lender.                     b.  determining depreciation of older buildings.                     c.  finding an experienced appraiser. d.  all answers are correct.

89. FHA-backed loans: a.  generally have lower interest rates than conventional loans.                b.  generally have higher interest rates than conventional loans.              c.  generally have lower loan-to-value ratios than conventional loans. d.  are available only to veterans.

2. Who makes an offer on a property that is for sale? a.  Seller’s agent b.  Offeree (Seller)          c.  Offeror (Buyer) d.  All answers are correct

100.  The Safe Act requires all persons/entities performing acts such as mortgage loan originators to be registered with and/or licensed through the: a.  Securities and Exchange Commission(SEC). b.  Consumer Protection Bureau(CPB). c.  Nationwide Mortgage Licensing System and Registry (NMLS/NMLS&R). d.  all answers are correct.

43. If a broker were to say to a prospective buyer “I think this is the best house on the street,” the statement would be considered a(n): a.  innocent misrepresentation.            b.  negligent misrepresentation.                       c.  fraudulent misrepresentation. d.  exaggeration of benefits (puffing).

5. The difference between “property taxes” and “special assessments” is that: a.  special assessments are levied for the cost of specific local improvements, while property tax revenue goes into the general fund. b.  assessment liens can only be levied by local improvement districts. c.  foreclosure of assessment liens can only be achieved by court foreclosure. d.  assessment liens are always subordinate to property tax liens.