CRU EXAM 1 COMPREHENSIVE SCRIPT
2026 COMPLETE QUESTIONS AND
SOLUTIONS GRADED A+
⩥ Which of the following situations might result in a change order to the
sales contract? Answer: A purchaser decides to add an in-ground
swimming pool in the backyard.
A purchaser opts for a more expensive granite for the kitchen counters.
A purchaser decides against adding a shed in the backyard.
⩥ Select all that apply. Interim construction financing provides short-
term funds for which of the following? Answer: Building a new site-
built home
Purchasing and permanently affixing a new manufactured home
⩥ Freddie Mac will allow a completion escrow for work completion on
construction-to-permanent financing in an amount not to exceed:
Answer: 10% appraised value
⩥ Which of the following expenses would be included in the acquisition
cost? Answer: Building permit
Trees for the yard
Blueprints
,⩥ Select all that apply. Compared to the process of buying an existing
home, which of the following are additional steps taken when the
borrower is having a home built? Answer: Acquiring a lot to build
Working with a builder
Obtaining a certificate of occupancy
⩥ For a DU® construction-to-permanent loan, if the lot was received as
an inheritance, what value should be entered in Asset type as "Other
Liquid Asset"? Answer: Appraised value
⩥ Select all that apply. A construction-to-permanent single-closing loan
underwritten for Fannie Mae may be which of the following transaction
types? Answer: Purchase
Limited cash-out refi
⩥ Select all that apply. When calculating acquisition costs, which of the
following would NOT meet the criteria for a "qualifying item" to be
used in a construction-to-permanent loan? Answer: Area rug for living
room
Color coordinated towels for bathroom
⩥ Freddie Mac allows escrow holdbacks on manufactured housing.
Answer: False
, ⩥ Select all that apply. Interim financing can be converted to permanent
financing by using ____ documentation structures. Answer: Separate
integrated
⩥ Select two. A credit score is a numerical value or a categorization
derived from a/the: Answer: Statistical tool
Modeling system
⩥ Credit scoring was first developed in the ______. Answer: 1950s
⩥ Select two. Only a person or business with ___________ may gain
access to another person's credit report. Answer: Written instruction of
the consumer
Permissible purpose
⩥ Select three. Advantages of credit scores include: Answer: They
remove human bias in risk assessment.
They are an accurate and reliable tool for predicting mortgage
delinquencies.
They facilitate faster credit decisions.
⩥ They facilitate faster credit decisions. Answer: FICO credit scores for
each borrower
One report from each of the three major credit repositories
2026 COMPLETE QUESTIONS AND
SOLUTIONS GRADED A+
⩥ Which of the following situations might result in a change order to the
sales contract? Answer: A purchaser decides to add an in-ground
swimming pool in the backyard.
A purchaser opts for a more expensive granite for the kitchen counters.
A purchaser decides against adding a shed in the backyard.
⩥ Select all that apply. Interim construction financing provides short-
term funds for which of the following? Answer: Building a new site-
built home
Purchasing and permanently affixing a new manufactured home
⩥ Freddie Mac will allow a completion escrow for work completion on
construction-to-permanent financing in an amount not to exceed:
Answer: 10% appraised value
⩥ Which of the following expenses would be included in the acquisition
cost? Answer: Building permit
Trees for the yard
Blueprints
,⩥ Select all that apply. Compared to the process of buying an existing
home, which of the following are additional steps taken when the
borrower is having a home built? Answer: Acquiring a lot to build
Working with a builder
Obtaining a certificate of occupancy
⩥ For a DU® construction-to-permanent loan, if the lot was received as
an inheritance, what value should be entered in Asset type as "Other
Liquid Asset"? Answer: Appraised value
⩥ Select all that apply. A construction-to-permanent single-closing loan
underwritten for Fannie Mae may be which of the following transaction
types? Answer: Purchase
Limited cash-out refi
⩥ Select all that apply. When calculating acquisition costs, which of the
following would NOT meet the criteria for a "qualifying item" to be
used in a construction-to-permanent loan? Answer: Area rug for living
room
Color coordinated towels for bathroom
⩥ Freddie Mac allows escrow holdbacks on manufactured housing.
Answer: False
, ⩥ Select all that apply. Interim financing can be converted to permanent
financing by using ____ documentation structures. Answer: Separate
integrated
⩥ Select two. A credit score is a numerical value or a categorization
derived from a/the: Answer: Statistical tool
Modeling system
⩥ Credit scoring was first developed in the ______. Answer: 1950s
⩥ Select two. Only a person or business with ___________ may gain
access to another person's credit report. Answer: Written instruction of
the consumer
Permissible purpose
⩥ Select three. Advantages of credit scores include: Answer: They
remove human bias in risk assessment.
They are an accurate and reliable tool for predicting mortgage
delinquencies.
They facilitate faster credit decisions.
⩥ They facilitate faster credit decisions. Answer: FICO credit scores for
each borrower
One report from each of the three major credit repositories
