43. A wraparound mortgage can:a. provide an above-market rate of return to the seller.     b. allow a buyer to have a below-market interest rate.      c. be used in place of a simple assumption. d. all of the above.  

35. Regulation Z:a. allows the right of rescission.                                                 b. requires that a consumer be provided with the annual percentage rate. c. requires proper disclosure of all finance terms in advertising.               d. all of the above.      

11. A borrower seeking a conventional loan with a larger LTV than the traditional ratio is required to:  a. have a cosigner on the loan.                              b. make a 50% down payment.   c. be over the age of 55.   d. carry private mortgage insurance.

48. All licensed/registered MLOs are issued:a. a unique identifier number.b. a tax identification number.c. a picture ID card.d. all of the above.

54. A lease/option is used to:a. keep a sale alive.                                           b. reduce the selling price over time.                c. provide income to the seller while awaiting the close of a sale.d. all of the above.      

1. Private mortgage insurance reduces:a. the lender’s risk of loss in the event of borrower default.                          b. the borrower’s risk against rising interest rates.           c. the seller’s risk in the event of a buyer backing out of the sale.                                d. none of the above.           

65. The minimum requirement in needed repairs for an FHA 203k loan is:a. $20,000.            b. $10,000.                            c. $5,000.             d. none of the above.             

10. In California, the minimum score required in order to pass the Salesperson Exam is:a. 65%.b. 70%.c. 75%.d. 80%.

20. A foreclosure that does not have to be taken to court is called:a. nonjudicial.                                               b. nonrecurring.                                            c. nonamortized.d. all of the above.

15. Alternative financing programs are:a. popular during times of high interest rates.                b. unpopular during times of high interest rates.                                     c. illegal under RESPA.d. none of the above.