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 tax-assessed value

C. Through a VA-approved inspector

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. One year

B. One month

C. Three months

D. Six 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. Negative amortization conversion

C. Senior disability refinance

D. Cash Out Refinance

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. Cash out refinance program

C. Convert to conventional to avoid the MIP

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