The CE Shop » Sales License » CA Real Estate Finance Course » 2021

Question #1

Which of the following characteristics applies to a partnership between mortgagors?

A. Each partner puts up a share of the money and receives a commensurate portion of the mortgage payments

B. It makes the lender a partner in the project as well as the financier.

C. It's designed to finance large real estate projects.

D. It involves more than one mortgagor as owner, sharing responsibility for payment of a single mortgage.

Question #2

A refinance is always a ______.

A. New loan

B. Loan modification

C. Loan increase

D. Loan reduction

Question #3

What type of partnership is a cooperative?

A. Partnership between mortgagees

B. Limited liability partnership

C. Partnership between mortgagees and mortgagors

D. Partnership between mortgagors

Question #4

Lenders are more comfortable when borrowers have around 20% of the property's purchase price to serve as what kind of payment?

A. Interest payment

B. Co-borrower's interest

C. Down payment

D. Price deduction due to savvy negotiation skills