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.
Lender
C.
Title company
D.
Underwriter
Question #2
Which party pays for the appraisal in a financed real estate transaction?
A.
Seller
B.
Title company
C.
Buyer
D.
Lender
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.
Purchase stock in Marco's company
C.
Provide secondary collateral for a loan above $450,000
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.
Buyer
B.
Seller
C.
Lender
D.
Title company
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