CA Real Estate Finance Course » 2021 » Sec 4 Unit 3 Exam
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ CA Real Estate Finance Course ] course for $25 USD.
Existing Quiz Clients Login here
Question #1
The CFPB uses education to accomplish its mission, such as the ______ publications.
A.
Good Lender, Bad Lender
B.
Know Before You Owe
C.
Credit 101
D.
Credit Is a Consumer's Responsibility
Question #2
Dawn and Steve are planning to purchase a home, but are wary of the commitment of a mortgage. However, they have no other way to make home ownership a reality, so they decide to educate themselves on the process for obtaining a mortgage loan. Where would you recommend they go for clear, consumer-oriented education on this topic?
A.
The CFPB website
B.
The loan officer at their local bank
C.
A class on finance at the community college
D.
A real estate brokerage
Question #3
The Dodd-Frank Act created the CFPB in part to regulate ______, which were among the largest originators of subprime mortgages prior to the financial crisis of 2007‒2008.
A.
Savings and loans
B.
Seller buy-back transactions
C.
Non-bank lenders
D.
Mortgage brokers
Question #4
The ______ uses education, enforcement, and research to promote fairness and transparency for consumer financial services.
A.
Equal Credit Opportunity Act
B.
Consumer Financial Protection Bureau
C.
Consumer Credit Protection Act
D.
Department of Housing and Urban Development
Question #5
What’s the acronym for the legislation that requires lenders to make full disclosure of the terms and conditions of credit?
A.
ECOA
B.
ARRA
C.
TILA
D.
MDIA
Question #6
The American Recovery and Reinvestment Act provided mortgage assistance to ______.
A.
Homeless persons
B.
Wounded servicemen and servicewomen
C.
Low-income and rural neighborhoods
D.
Subprime borrowers
Question #7
Both the Housing and Economic Recovery Act and the American Recovery and Reinvestment Act funded a program called the ______ program, which provided emergency assistance grants to states to purchase and redevelop foreclosed and abandoned homes and residential properties.
A.
Rebuild Our Homes
B.
Neighborhood Stabilization
C.
SAFE Neighborhood
D.
Community Reinvestment
Question #8
A major component of the Housing and Economic Recovery Act was the HOPE for Homeowners program, which aimed to ______ by helping subprime borrowers refinance into more affordable fixed-rate mortgages.
A.
Stabilize the housing market
B.
Bail out credit companies
C.
Redress homeowner grievances
D.
Increase available credit
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ CA Real Estate Finance Course ] course for $25 USD.
Existing Quiz Clients Login here