CA Real Estate Finance Course » 2021 » Sec 10 Unit 5 Exam
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Question #1
A lender requires a title search to finance a transaction. Who pays for this search?
A.
Buyer
B.
Underwriter
C.
Title company
D.
Lender
Question #2
Which party pays for the appraisal in a financed real estate transaction?
A.
Lender
B.
Seller
C.
Buyer
D.
Title company
Question #3
Landon will pay interest over the life of his 30-year loan. What other responsibility does he have to lender Marco when he finances his loan?
A.
Pay wage garnishment
B.
Provide secondary collateral for a loan above $450,000
C.
Purchase stock in Marco's company
D.
Pay loan-related closing costs
Question #4
Who is responsible for paying the loan-related closing costs in a financed real estate transaction?
A.
Lender
B.
Buyer
C.
Seller
D.
Title company
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