Champions Principles of Real Estate 2 – TYK Questions and Verified Answers (Latest Edition, Graded A+) – Complete Exam Preparation Material

Champions Principles of Real Estate 2 TYK Questions
And Verified Answers Latest Edition Graded A+


Terms in this set (76)


Which characteristic of value states C. Utility
that the property must fulfill a
need?


A. Scarcity
B. Demand
C. Utility
D. Transferability
____is the most probable price a B. Market value
property
should bring.

A. Ad valorem
B. Market value
C. Demand
D. Value
____refers to the assessed value C. Ad valorem
of the
property.

A. Market value
B. Value
C. Ad valorem
D. Demand

,____is when ownership cannot be B. Transferability
transferred from one person to
another, it has no to little
value.


A. Scarcity
B. Transferability
C. Demand
D. Utility
Which characteristic of value A. Scarcity
states that limited supply in
the marketplace creates
value?


A. Scarcity
B. Transferability
C. Utility
D. Demand
All of the following are A. Promissory Note
mortgage lending activities
except:


A. Promissory Note
B. Loan Origination
C. Closing
D. Funding
The legal procedure whereby C. Foreclosure
the secured property can be
sold to satisfy the unpaid
promissory note is called:


A. REO
B. Servicing
C. Foreclosure
D. Mortgage
All of the following are part of the B. Fannie Mae
primary mortgage market
except:

, A. Mortgage Bankers
B. Fannie Mae
C. Correspondent Lenders
D. Mortgage Brokers
The pledge of the property as D. Mortgage
security of repayment of the
note is called:


A. Underwriting
B. Promissory Note
C. Closing
D. Mortgage
A real estate lien note is also C. Promissory Note
known as:

A. Foreclosure
B. Mortgage
C. Promissory Note
D. Funding