ASREB (Arizona School of Real Estate and Business)
Objective Assessment Guide Exam Questions and Already
graded Solutions and Assured Satisfactions 2025/2026
A property is being foreclosed, and the entire balance is due. This is called:
Defeasance
Acceleration
Alienation
Due on Sale - correct answer Acceleration
Which of the following regulations requires the lender to show the true interest rate?
RESPA
HUD
Reg Z
PMI - correct answer Reg Z
RESPA would not cover which of the following:
New loans
FHA and VA loans
Loan assumptions
Federally related loans - correct answer Loan assumptions
According to Reg Z and RESPA, which of the following are not prorated in escrow?
Property Taxes
Property insurance
Title insurance
Impound accounts - correct answer Title Insurance
Regulation Z would disclose
,Mortgage prepayment penalty
Escrow fees
Title insurance fees
Loan origination fees and points - correct answer Loan origination fees and points
RESPA would cover which of the following loans?
Commercial
1-4 plex residential
Apartment building
Vacant industrial land - correct answer 1-4 plex residential
When a mortgage banker borrows on existing loans held by the banker, this is called:
Discounting
Estoppel
Wraparound lending
Warehousing - correct answer warehousing
By definition how does a mortgage banker differ from a mortgage broker?
A mortgage banker can service loans after closing
A mortgage broker may not charge a fee for the loans
A mortgage broker uses their own personal funds
A mortgage banker can only work in the state the bank is located - correct answer a
mortgage banker can service loans after closing
When a loan is sold and discounted, which of the parties below discounts the loan:
Trustee
Trustor
Mortgagee
Grantee - correct answer Mortgagee
, The buyer has an investment that has a feature of "a pass through certificate", this
investment is most likely a:
Real estate investment trust
Limited liability company
Ginnie Mae security
F.W.M.A stock investment - correct answer Ginnie Mae Security
RESPA would provide for all of the following EXCEPT:
Good faith estimate
HUD booklet
A limit on loan points
Restriction on kickbacks - correct answer A limit on loan points
When a deed in lieu of foreclosure is given to a lender, which of the following is true?
Redemption rights remain
Subsequent liens are paid off
Time and cost are less
The borrower would still be liable for the loan in foreclosure - correct answer Time and
cost are less
When a lender requires an impound account, what is the maximum tax reserves a
lender may demand according to RESPA:
9 months
6 months
3 months
2 months - correct answer 2 months
Which of the following transactions would not be subject to regulation Z?
Objective Assessment Guide Exam Questions and Already
graded Solutions and Assured Satisfactions 2025/2026
A property is being foreclosed, and the entire balance is due. This is called:
Defeasance
Acceleration
Alienation
Due on Sale - correct answer Acceleration
Which of the following regulations requires the lender to show the true interest rate?
RESPA
HUD
Reg Z
PMI - correct answer Reg Z
RESPA would not cover which of the following:
New loans
FHA and VA loans
Loan assumptions
Federally related loans - correct answer Loan assumptions
According to Reg Z and RESPA, which of the following are not prorated in escrow?
Property Taxes
Property insurance
Title insurance
Impound accounts - correct answer Title Insurance
Regulation Z would disclose
,Mortgage prepayment penalty
Escrow fees
Title insurance fees
Loan origination fees and points - correct answer Loan origination fees and points
RESPA would cover which of the following loans?
Commercial
1-4 plex residential
Apartment building
Vacant industrial land - correct answer 1-4 plex residential
When a mortgage banker borrows on existing loans held by the banker, this is called:
Discounting
Estoppel
Wraparound lending
Warehousing - correct answer warehousing
By definition how does a mortgage banker differ from a mortgage broker?
A mortgage banker can service loans after closing
A mortgage broker may not charge a fee for the loans
A mortgage broker uses their own personal funds
A mortgage banker can only work in the state the bank is located - correct answer a
mortgage banker can service loans after closing
When a loan is sold and discounted, which of the parties below discounts the loan:
Trustee
Trustor
Mortgagee
Grantee - correct answer Mortgagee
, The buyer has an investment that has a feature of "a pass through certificate", this
investment is most likely a:
Real estate investment trust
Limited liability company
Ginnie Mae security
F.W.M.A stock investment - correct answer Ginnie Mae Security
RESPA would provide for all of the following EXCEPT:
Good faith estimate
HUD booklet
A limit on loan points
Restriction on kickbacks - correct answer A limit on loan points
When a deed in lieu of foreclosure is given to a lender, which of the following is true?
Redemption rights remain
Subsequent liens are paid off
Time and cost are less
The borrower would still be liable for the loan in foreclosure - correct answer Time and
cost are less
When a lender requires an impound account, what is the maximum tax reserves a
lender may demand according to RESPA:
9 months
6 months
3 months
2 months - correct answer 2 months
Which of the following transactions would not be subject to regulation Z?
