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

Question #1

How does the VA qualify a property for a VA-guaranteed loan?

A. Through tax-assessed value

B. Through a VA-approved inspector

C. Through a VA-approved appraiser

D. Through a database showing median home values in the area

Question #2

Chanel is buying a brand new home with a VA loan. She's obtained a certificate of reasonable value. For how long is that CRV valid?

A. Six months

B. One month

C. One year

D. Three months

Question #3

A VA loan program that allows a veteran to refinance at a lower rate and receive cash proceeds to fund other investments or purchases is ______.

A. IRRC

B. Senior disability refinance

C. Cash Out Refinance

D. Negative amortization conversion

Question #4

Your client has a VA loan and wants to refinance to a lower rate. Which of the following is likely the simplest option?

A. Convert to conventional to avoid the MIP

B. Obtain an adjustable rate mortgage with a low teaser rate

C. Interest rate reduction refinance

D. Cash out refinance program