CRMA CERTIFICATION QUIZ ASSESSMENT
ACTUAL QUESTIONS COLLECTION 2026
FULL QUESTIONS AND PRECISE EXTENSIVE
ELABORATED SOLUTIONS ONE HUNDRED
PERCENT GUARANTEED PASS GRADED A+
⩥ If an owner occupied one unit of a quadraplex and rents the other
three units, does the Fair Housing Act provide protections? Answer: No,
this transaction whether two, three or four units is exempt from the
provisions of the Fair Housing Act.
⩥ RESPA requires that a borrower is notified _____________ days
before the effective date of the transfer of servicing. Answer: Fifteen
Days
⩥ SRP stands for ____________________________. Answer: Service
Release Premium
⩥ Supervisory agencies, through the (FFIEC) Federal Financial
Institutions Examination Council compile _____________ data in the
form of individual disclosure statements for each institution. Answer:
Loan, the number of loans applied for and made
,⩥ Telling a buyer that they would not be comfortable in particular
neighborhood for racial reasons is called _________________ and is a
violation of _____________________.. Answer: Steering, the Fair
Housing Act
⩥ Two discriminatory reasons for denying a loan include a borrower's
permanent disability and a borrower living in a economically depressed
area. Which of the tow violate ECOA?. Answer: The Equal Credit
Opportunity Act prohibits redlining. That is, the refusal to lend in
specific area for discriminatory reasons. Other Federal Acts but ECOA
deal with the discrimination based on disability.
⩥ Balance in the Real Estate market occurs when there are slightly more
____________________ available than _______________.. Answer:
More properties that available buyers
⩥ Which Act includes Red Flag rules?. Answer: FACTA. The Fair and
Accurate Credit Transaction of 2003.
⩥ Any non-government loan is a ___________________ loan.. Answer:
Conventional
⩥ According to investor guidelines, state law, and federal law it is illegal
to improperly influence the independent judgement of an appraiser. It is
also considered a form of mortgage ________________.. Answer: Fraud
,⩥ How should you respond to a borrower who suggests they will be
submitting false documents in order to qualify for a loan?. Answer:
Refuse to take the loan application. (suspected fraud makes the refusal
justifiable)
⩥ For a fee, a Real Estate Broker offers a Mortgage Company the
contact information of the people attending an Open House. Has anyone
violated RESPA and if so, who?. Answer: Only the Real Estate Broker
by offering referrals in exchange for something of value is a RESPA
violation. However, had the Mortgage Company accepted that would
also be in violation of RESPA.
⩥ The SAFE act is title V of _________________________.. Answer:
HERA, The Housing and Economic Recovery Act.
⩥ Providing that payments are made on time, the HPA requires that PMI
is automatically terminated at __________% loan to value.. Answer:
78%
⩥ MIP is required on all _________________ loans.. Answer: FHA
insured
⩥ The mortgage clause that facilitates a change in lien position,
generally from superior to inferior is called a(n)
______________________ clause.. Answer: Subordination
, ⩥ Which regulation prohibits discrimination in a credit transaction?.
Answer: Regulation B of ECOA
⩥ The interest rate charged by the Federal Reserve to its member banks
is called the _____________ rate.. Answer: Discount Rate
⩥ The FNMA automated underwriting system is called __________..
Answer: DU, Desktop Underwriter
⩥ The FHLMC automated underwriting system is called
___________________.. Answer: Loan Advisor
⩥ The most commonly and frequently used approach to appraising
residential property is the ____________ approach.. Answer:
Comparable Approach also known as the Market Data Approach.
⩥ What is market price?. Answer: The dollar amount that is actually
paid for a property.
⩥ When a primary residence, the ratio that results from dividing the
subject property PITI by the borrowers stable gross monthly income is
called ______________________.. Answer: The primary housing
expense or the front end ratio.
ACTUAL QUESTIONS COLLECTION 2026
FULL QUESTIONS AND PRECISE EXTENSIVE
ELABORATED SOLUTIONS ONE HUNDRED
PERCENT GUARANTEED PASS GRADED A+
⩥ If an owner occupied one unit of a quadraplex and rents the other
three units, does the Fair Housing Act provide protections? Answer: No,
this transaction whether two, three or four units is exempt from the
provisions of the Fair Housing Act.
⩥ RESPA requires that a borrower is notified _____________ days
before the effective date of the transfer of servicing. Answer: Fifteen
Days
⩥ SRP stands for ____________________________. Answer: Service
Release Premium
⩥ Supervisory agencies, through the (FFIEC) Federal Financial
Institutions Examination Council compile _____________ data in the
form of individual disclosure statements for each institution. Answer:
Loan, the number of loans applied for and made
,⩥ Telling a buyer that they would not be comfortable in particular
neighborhood for racial reasons is called _________________ and is a
violation of _____________________.. Answer: Steering, the Fair
Housing Act
⩥ Two discriminatory reasons for denying a loan include a borrower's
permanent disability and a borrower living in a economically depressed
area. Which of the tow violate ECOA?. Answer: The Equal Credit
Opportunity Act prohibits redlining. That is, the refusal to lend in
specific area for discriminatory reasons. Other Federal Acts but ECOA
deal with the discrimination based on disability.
⩥ Balance in the Real Estate market occurs when there are slightly more
____________________ available than _______________.. Answer:
More properties that available buyers
⩥ Which Act includes Red Flag rules?. Answer: FACTA. The Fair and
Accurate Credit Transaction of 2003.
⩥ Any non-government loan is a ___________________ loan.. Answer:
Conventional
⩥ According to investor guidelines, state law, and federal law it is illegal
to improperly influence the independent judgement of an appraiser. It is
also considered a form of mortgage ________________.. Answer: Fraud
,⩥ How should you respond to a borrower who suggests they will be
submitting false documents in order to qualify for a loan?. Answer:
Refuse to take the loan application. (suspected fraud makes the refusal
justifiable)
⩥ For a fee, a Real Estate Broker offers a Mortgage Company the
contact information of the people attending an Open House. Has anyone
violated RESPA and if so, who?. Answer: Only the Real Estate Broker
by offering referrals in exchange for something of value is a RESPA
violation. However, had the Mortgage Company accepted that would
also be in violation of RESPA.
⩥ The SAFE act is title V of _________________________.. Answer:
HERA, The Housing and Economic Recovery Act.
⩥ Providing that payments are made on time, the HPA requires that PMI
is automatically terminated at __________% loan to value.. Answer:
78%
⩥ MIP is required on all _________________ loans.. Answer: FHA
insured
⩥ The mortgage clause that facilitates a change in lien position,
generally from superior to inferior is called a(n)
______________________ clause.. Answer: Subordination
, ⩥ Which regulation prohibits discrimination in a credit transaction?.
Answer: Regulation B of ECOA
⩥ The interest rate charged by the Federal Reserve to its member banks
is called the _____________ rate.. Answer: Discount Rate
⩥ The FNMA automated underwriting system is called __________..
Answer: DU, Desktop Underwriter
⩥ The FHLMC automated underwriting system is called
___________________.. Answer: Loan Advisor
⩥ The most commonly and frequently used approach to appraising
residential property is the ____________ approach.. Answer:
Comparable Approach also known as the Market Data Approach.
⩥ What is market price?. Answer: The dollar amount that is actually
paid for a property.
⩥ When a primary residence, the ratio that results from dividing the
subject property PITI by the borrowers stable gross monthly income is
called ______________________.. Answer: The primary housing
expense or the front end ratio.
