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REAL ESTATE FINANCE I-CHAMPIONS EXAM
STUDY GUIDE ALL WITH 150 QUESTIONS AND
CORRECT DETAILED SOLUTIONS JUST
RELEASED THIS YEAR
QUESTION: The Upfront Mortgage Insurance Premium (UFMIP) on an FHA loan is paid:
(a) At closing
(b) By the seller
(c) In monthly installments added to the monthly payment
(d) Only upon default - ANSWER✔✔A
QUESTION: The most probable sale price of a property is known as:
(a) Net Price
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(b) Market Value
(c) Contract Price
(d) Assessed Value - ANSWER✔✔B
QUESTION: There are _________ Federal Home Loan Banks in the United States.
(a) Twelve
(b) Twenty four
(c) Sixteen
(d) Fifty - ANSWER✔✔A
QUESTION: A(n) _________ is a right given by law to creditors to have debts paid out of the
property of a defaulting debtor.
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(a) Lien
(b) Interest
(c) Settlement
(d) Foreclosure - ANSWER✔✔A
QUESTION: _________ or re-amortizing a mortgage can reduce the borrower's monthly
payment, making a default situation more manageable.
(a) Forecasting
(b) Recasting
(c) Forebearance
(d) Foreclosure - ANSWER✔✔B
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QUESTION: A portfolio loan is:
(a) An FHA loan sold in the secondary market
(b) A loan not sold into the secondary market, but retained by the lender
(c) A conventional loan sold to Freddie Mac
(d) A construction to permanent loan sold in the primary market - ANSWER✔✔B
QUESTION: The minimum downpayment on a VA loan is:
(a) 2% of the sales price
(b) 0% of the sales price
(c) 3.75% of the sales price
(d) 1% of the sales price - ANSWER✔✔B
REAL ESTATE FINANCE I-CHAMPIONS EXAM
STUDY GUIDE ALL WITH 150 QUESTIONS AND
CORRECT DETAILED SOLUTIONS JUST
RELEASED THIS YEAR
QUESTION: The Upfront Mortgage Insurance Premium (UFMIP) on an FHA loan is paid:
(a) At closing
(b) By the seller
(c) In monthly installments added to the monthly payment
(d) Only upon default - ANSWER✔✔A
QUESTION: The most probable sale price of a property is known as:
(a) Net Price
, Page 2 of 34
(b) Market Value
(c) Contract Price
(d) Assessed Value - ANSWER✔✔B
QUESTION: There are _________ Federal Home Loan Banks in the United States.
(a) Twelve
(b) Twenty four
(c) Sixteen
(d) Fifty - ANSWER✔✔A
QUESTION: A(n) _________ is a right given by law to creditors to have debts paid out of the
property of a defaulting debtor.
, Page 3 of 34
(a) Lien
(b) Interest
(c) Settlement
(d) Foreclosure - ANSWER✔✔A
QUESTION: _________ or re-amortizing a mortgage can reduce the borrower's monthly
payment, making a default situation more manageable.
(a) Forecasting
(b) Recasting
(c) Forebearance
(d) Foreclosure - ANSWER✔✔B
, Page 4 of 34
QUESTION: A portfolio loan is:
(a) An FHA loan sold in the secondary market
(b) A loan not sold into the secondary market, but retained by the lender
(c) A conventional loan sold to Freddie Mac
(d) A construction to permanent loan sold in the primary market - ANSWER✔✔B
QUESTION: The minimum downpayment on a VA loan is:
(a) 2% of the sales price
(b) 0% of the sales price
(c) 3.75% of the sales price
(d) 1% of the sales price - ANSWER✔✔B
