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 a VA-approved appraiser

B. Through a VA-approved inspector

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

D. Through tax-assessed value

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. Senior disability refinance

B. Cash Out Refinance

C. IRRC

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. Interest rate reduction refinance

B. Convert to conventional to avoid the MIP

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

D. Cash out refinance program