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.

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).

Prion disease is spread by ______.