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Georgia Manufactured Housing Installer Exam
COMPLETE VERIFIED QUESTIONS AND DETAILED
SOLUTIONS LATEST UPDATE.pdf
What is a chattel loan?
a) A loan secured by the land and the manufactured home
b) A Retailer Loan secured only by the manufactured
home
c) A loan provided by a mortgage originator for financing a
manufactured home
d) A loan provided by a mortgage originator for financing
modular homes - Answer-(b) A Retailer Loan secured only
by the manufactured home
Which of the following statements about MH communities
is true
a) All Manufactured Home lots in MH Communities are
individually taxed or titled as real property.
b) Leased-Lot Communities typically have a lower fees
and costs on each resident's lot compared to Resident-
Owned Communities
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c) Resident-Owned Communities are always owned and
operated by a for-profit corporate landlord
d) The first step in residents converting their Leased-Lot
community into a Resident-Owned Community is by
purchasing the Leased-Lot community from their landlord -
Answer-(d) The first step in residents converting their
Leased-Lot community into an Resident Owned
Community is by purchasing the Leased-Lot community
from their landlord
In determining eligibility for financing, the manufactured
home appraisal and underwriting process might look
carefully at each of the following, except
a) The presence (or absence) of access roads to the home
b) The Manufacturer of the Kitchen Appliances
c) The manufacturer certifications regarding factory
construction standards
d) Comparable properties that are similar in construction
to the subject property - Answer-*b) The Manufacturer of
the Kitchen Appliances
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The best party a prospective homebuyer should use to
purchase a previously owned Manufactured Home to
determine that it would be eligible for traditional mortgage
financing is
a) Replevin Attorney
b) Closing Agent
c) Real Estate Agent
d) Insurance Agent - Answer-Real Estate Agent
Which of the following is not an installation service or
construction step a prospective purchaser of a brand-new
manufactured home should investigate with the retailer
prior to purchase?
a) How much will it cost to transport the home to my real
property site?
b) Who will build the foundation for the home, and ensure
it will sit level?
c) Will the community restrict residents to only those of my
religion?
Georgia Manufactured Housing Installer Exam
COMPLETE VERIFIED QUESTIONS AND DETAILED
SOLUTIONS LATEST UPDATE.pdf
What is a chattel loan?
a) A loan secured by the land and the manufactured home
b) A Retailer Loan secured only by the manufactured
home
c) A loan provided by a mortgage originator for financing a
manufactured home
d) A loan provided by a mortgage originator for financing
modular homes - Answer-(b) A Retailer Loan secured only
by the manufactured home
Which of the following statements about MH communities
is true
a) All Manufactured Home lots in MH Communities are
individually taxed or titled as real property.
b) Leased-Lot Communities typically have a lower fees
and costs on each resident's lot compared to Resident-
Owned Communities
,2|Page
c) Resident-Owned Communities are always owned and
operated by a for-profit corporate landlord
d) The first step in residents converting their Leased-Lot
community into a Resident-Owned Community is by
purchasing the Leased-Lot community from their landlord -
Answer-(d) The first step in residents converting their
Leased-Lot community into an Resident Owned
Community is by purchasing the Leased-Lot community
from their landlord
In determining eligibility for financing, the manufactured
home appraisal and underwriting process might look
carefully at each of the following, except
a) The presence (or absence) of access roads to the home
b) The Manufacturer of the Kitchen Appliances
c) The manufacturer certifications regarding factory
construction standards
d) Comparable properties that are similar in construction
to the subject property - Answer-*b) The Manufacturer of
the Kitchen Appliances
, 3|Page
The best party a prospective homebuyer should use to
purchase a previously owned Manufactured Home to
determine that it would be eligible for traditional mortgage
financing is
a) Replevin Attorney
b) Closing Agent
c) Real Estate Agent
d) Insurance Agent - Answer-Real Estate Agent
Which of the following is not an installation service or
construction step a prospective purchaser of a brand-new
manufactured home should investigate with the retailer
prior to purchase?
a) How much will it cost to transport the home to my real
property site?
b) Who will build the foundation for the home, and ensure
it will sit level?
c) Will the community restrict residents to only those of my
religion?
