CA Real Estate Finance Course » 2021 » Sec 7 Unit 6 Exam
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Question #1
Which of the following clauses is included in Fannie Mae’s multi-state note?
A.
Lock-in
B.
Late charge
C.
Prepayment penalty
D.
Subordination
Question #2
Who's the mortgagee in a mortgage?
A.
The lender
B.
The beneficiary
C.
The trustee
D.
The borrower
Question #3
In a deed of trust, who is the beneficiary?
A.
Neutral third party
B.
Agent
C.
Borrower
D.
Lender
Question #4
Fannie Mae’s multi-state note includes a due-on-sale clause, also known as a(n) ______ clause.
A.
Subordination
B.
Exculpatory
C.
Alienation
D.
Acceleration
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