6. Which Act forbids kickbacks?a. The Home Mortgage Disclosure Act (HMDA)b. The Truth in Lending Act (TILA)c. The Real Estate Settlement Procedures Act (RESPA)d. The Equal Credit Opportunity Act (ECOA).

49. Money market funds are:a. the same as mutual funds.                                             b. private noninsured investment accounts.                     c. held in the lender’s portfolio.d. none of the above.

96. The maximum veteran entitlement for a VA loan guaranty is:a. $36,000.                           b. $360,000.                      c. $360.                         d. none of the above.                      

90. An estoppel letter is used to:a. prevent a lender from participating in a loan.                             b. protect an agent engaging in a creative financing transaction.c. prevent a lender from exercising the due-on-sale clause.d. none of the above.                                                                       

87. A clause in a financial instrument that limits a borrower’s right to transfer the property without the lender’s permission is called a(n):a. acceleration clause.     b. alienation clause.       c. prepayment clause.        d. none of the above.

72. The FHA:a. buys loans in the secondary market.                                       b. sells loans to the secondary market.                                        c. is a direct lender.d. insures loans only.       

73. A scheme where the down payment is actually borrowed or carried as a second mortgage by the seller but never documented in the purchase agreement, escrow instructions, or recorded is known as:a. an air loan.b. leverage.c. a silent second.d. a disappearing second.

36. The standard loan-to-value ratio has traditionally been:a. 60%.                                      b. 70%.                                      c. 80%.d. 90%.

37. Based on FNMA and FHLMC guidelines, mortgage interest rates are generally limited by lenders to an annual increase of:a. 2%.                                    b. 20%.                                     c. 200%.d. none of the above.

31. The availability of funds in the primary market depends on the existence of the:a. secondary market.b. stock market.c. commodities market.d. foreign exchange market.