NC AceableAgent Pre-Licensing Final Study Guide – Verified Questions & Key Concepts 2026_2027 1 of 14 2026-03-24
NC AceableAgent
Pre-Licensing Final Study
Guide – Verified Questions
& Key Concepts 2026/2027
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_Page 1NC AceableAgent Pre-Licensing Final Study Guide – Verified Questions & Key Concepts 2026_2027.pdf
Page 1 of 14
, NC AceableAgent pre-licensing final study guide 2 of 14 2026-03-24
NC AceableAgent pre-licensing final study guide
Study online at https://quizlet.com/_crqqfq
1. promissory note a negotiable financial instrument that is evidence
of a debt and a promise to pay that debt
2. RESPA (Real Estate Settlement Proce- legislation passed to eliminate kickbacks in lend-
dures Act) ing and disclose the costs of closing a loan
3. TILA (Truth in Lending Act) protects consumers against inaccurate and unfair
credit billing and credit card practices
4. Regulation Z Rules (Truth in Lending) loan originator compensation rules, disclosure of
loan terms, right of rescission for loans using an
already-owned house as collateral, rules for ad-
vertising loan rates
5. Reg Z advertising trigger items monthly payment amount, number of payments,
amount of down payment, finance charges, loan
terms
6. TRID lender must provide the borrower at least 3 busi-
(TILA RESPA Integrated Disclosure) ness days before loan consummation to review
the Borrower's Closing Disclosure form
7. subsurface rights grants owners the power to control everything,
including oil, natural gas, and other minerals
underneath the ground's surface or a particular
piece of property
8. Fee Simple Defeasible a property interest characterized by perpetual
ownership on the condition that the property
is used for a certain purpose or under specific
conditions; ownershipreverts back to the original
owner if these stipulations are violated
Page 2 of 14 Page 2 NC AceableAgent pre-licensing final study guide.pdf
NC AceableAgent
Pre-Licensing Final Study
Guide – Verified Questions
& Key Concepts 2026/2027
Guidehttps://www.stuvia.com/dashboard!@_)#*)(@$)($@*($@)($@*_Page 1NC AceableAgent Pre-Licensing Final Study Guide – Verified Questions & Key Concepts 2026_2027.pdf
Page 1 of 14
, NC AceableAgent pre-licensing final study guide 2 of 14 2026-03-24
NC AceableAgent pre-licensing final study guide
Study online at https://quizlet.com/_crqqfq
1. promissory note a negotiable financial instrument that is evidence
of a debt and a promise to pay that debt
2. RESPA (Real Estate Settlement Proce- legislation passed to eliminate kickbacks in lend-
dures Act) ing and disclose the costs of closing a loan
3. TILA (Truth in Lending Act) protects consumers against inaccurate and unfair
credit billing and credit card practices
4. Regulation Z Rules (Truth in Lending) loan originator compensation rules, disclosure of
loan terms, right of rescission for loans using an
already-owned house as collateral, rules for ad-
vertising loan rates
5. Reg Z advertising trigger items monthly payment amount, number of payments,
amount of down payment, finance charges, loan
terms
6. TRID lender must provide the borrower at least 3 busi-
(TILA RESPA Integrated Disclosure) ness days before loan consummation to review
the Borrower's Closing Disclosure form
7. subsurface rights grants owners the power to control everything,
including oil, natural gas, and other minerals
underneath the ground's surface or a particular
piece of property
8. Fee Simple Defeasible a property interest characterized by perpetual
ownership on the condition that the property
is used for a certain purpose or under specific
conditions; ownershipreverts back to the original
owner if these stipulations are violated
Page 2 of 14 Page 2 NC AceableAgent pre-licensing final study guide.pdf
