CA Real Estate Finance Course » 2021 » Sec 10 Unit 1 Exam

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Question #1
The loan applicant, the depository institution, and the _______ all complete parts of the request for verification of deposit form.
A.   Seller
B.   Lender
C.   Appraiser
D.   Settlement agent
Question #2
Curtis is completing a residential loan application. Which of the following would he include in the assets section?
A.   Amount on deposit at his bank
B.   Car loan
C.   Credit card balance
D.   Student loan
Question #3
Bella is a lender. Joshua is the loan applicant. They both complete their part of the request for verification of the deposit form. The last party to complete the deposit form will be the _______.
A.   Settlement agent
B.   Depository institution
C.   Seller
D.   Appraiser
Question #4
Sara has finished completing her loan application. She has gathered the necessary documentation and will be informed whether the application will be approved. Who is Sara?
A.   The seller
B.   The settlement agent
C.   The lender
D.   The buyer
Question #5
Jared is buying a condo from Luke. Sally is Jared’s lender, and Thomas is Jared’s agent. Meredith is Luke’s agent. Who is responsible for providing the Loan Estimate?
A.   Meredith, Luke's agent
B.   Sally, Jared's lender
C.   Jared, the buyer
D.   Luke, the seller
Question #6
Completing a residential loan application requires providing information about the loan being requested, the property being purchased, and the ________.
A.   Borrower purchasing the property
B.   Seller of the property
C.   Appraisal value of the property
D.   Lender providing the loan
Question #7
The loan applicant, the employer, and the ______ all complete parts of the request for verification of employment form.
A.   Seller
B.   Appraiser
C.   Lender
D.   Settlement agent
Question #8
The lender, the depository institution, and the _______ all complete parts of the request for verification of deposit form.
A.   Settlement agent
B.   Seller
C.   Appraiser
D.   Loan applicant

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