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Safe Schools Exam Newest 2025/2026 With
Complete Questions And Correct Answers
|Already Graded A+||Brand New Version!|
Primary Mortgage Market - ....ANSWER.....✓✓Where
credit institutions originate loans
C. The maximum the rate can increase over the life of
the loan - ....ANSWER.....✓✓When an ARM has rate caps
of 5/2/6, the 6 refers to what?
A. The maximum rate increase at the initial adjustment
B. The start rate for the loan
C. The maximum the rate can increase over the life of
the loan
D. The rate maximum the rate can decrease over the
life of the loan
B. The borrower qualified at the buydown rate -
....ANSWER.....✓✓When utilizing a temporary buydown to
lower the interest rate on a FHA loan, which of the
following are correct
A. The borrower qualified at the note rate
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B. The borrower qualified at the buydown rate
C. The rate cannot be more than 2% below the note rate
D. Seller or builder can pay the discount points to
buydown the rate
A. Age - ....ANSWER.....✓✓All of the following are
violations of the Fair Housing Act EXCEPT
A. Age
B. National Origin
C. Disability
D.Religion
Encrumbrance - ....ANSWER.....✓✓Claim against
property held by one who is not the legal owner
Trigger Term - ....ANSWER.....✓✓Advertised term that
requires additional disclosures
Advertising Disclosure - ....ANSWER.....✓✓An
advertisement must be presented "clearly and
conspicuously" to keep from being deceptive, unfair, or
otherwise violate a Commission rule
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Waving Right of Rescission -
....ANSWER.....✓✓Extenuating circumstances such as
"bona fide personal financial emergency
Right of Rescission - ....ANSWER.....✓✓Right that
borrowers have to cancel a loan or line of credit with a
lender within three days of closing
Business Day - ....ANSWER.....✓✓When creditors office
is open to the public, a calendar working day except
Sunday or a federal holiday
Application - ....ANSWER.....✓✓Financial information
used for purposes of obtaining an extension of credit
Disclosure - ....ANSWER.....✓✓The act of making new
information known
FTC
Federal Trade Commission - ....ANSWER.....✓✓Mission is
to promote consumer protection and eliminate and
prevent anticompetitive business practices
CFPB
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Consumer Financial Protection Bureau -
....ANSWER.....✓✓Regulatory agency charged with
overseeing financial products and services offered to
consumers
TILA
Truth in Lending Act - ....ANSWER.....✓✓Enacted 1968
promotes the informed use of consumer credit by
requiring disclosures about terms and costs and
standardizes the manner in which costs with borrowing
are calculated and disclosed
Per Diem Interest - ....ANSWER.....✓✓Interest charged
on a loan for one or more days
Annual Interest Rate Formula -
....ANSWER.....✓✓Principal (X) Interest Rate = Annual
Interest Rate
Interest Only Mortgage - ....ANSWER.....✓✓Mortgage
where the mortgagor is only required to pay off the
interest that arises from the principal that is borrowed
for a set period
Safe Schools Exam Newest 2025/2026 With
Complete Questions And Correct Answers
|Already Graded A+||Brand New Version!|
Primary Mortgage Market - ....ANSWER.....✓✓Where
credit institutions originate loans
C. The maximum the rate can increase over the life of
the loan - ....ANSWER.....✓✓When an ARM has rate caps
of 5/2/6, the 6 refers to what?
A. The maximum rate increase at the initial adjustment
B. The start rate for the loan
C. The maximum the rate can increase over the life of
the loan
D. The rate maximum the rate can decrease over the
life of the loan
B. The borrower qualified at the buydown rate -
....ANSWER.....✓✓When utilizing a temporary buydown to
lower the interest rate on a FHA loan, which of the
following are correct
A. The borrower qualified at the note rate
,2|Page
B. The borrower qualified at the buydown rate
C. The rate cannot be more than 2% below the note rate
D. Seller or builder can pay the discount points to
buydown the rate
A. Age - ....ANSWER.....✓✓All of the following are
violations of the Fair Housing Act EXCEPT
A. Age
B. National Origin
C. Disability
D.Religion
Encrumbrance - ....ANSWER.....✓✓Claim against
property held by one who is not the legal owner
Trigger Term - ....ANSWER.....✓✓Advertised term that
requires additional disclosures
Advertising Disclosure - ....ANSWER.....✓✓An
advertisement must be presented "clearly and
conspicuously" to keep from being deceptive, unfair, or
otherwise violate a Commission rule
,3|Page
Waving Right of Rescission -
....ANSWER.....✓✓Extenuating circumstances such as
"bona fide personal financial emergency
Right of Rescission - ....ANSWER.....✓✓Right that
borrowers have to cancel a loan or line of credit with a
lender within three days of closing
Business Day - ....ANSWER.....✓✓When creditors office
is open to the public, a calendar working day except
Sunday or a federal holiday
Application - ....ANSWER.....✓✓Financial information
used for purposes of obtaining an extension of credit
Disclosure - ....ANSWER.....✓✓The act of making new
information known
FTC
Federal Trade Commission - ....ANSWER.....✓✓Mission is
to promote consumer protection and eliminate and
prevent anticompetitive business practices
CFPB
, 4|Page
Consumer Financial Protection Bureau -
....ANSWER.....✓✓Regulatory agency charged with
overseeing financial products and services offered to
consumers
TILA
Truth in Lending Act - ....ANSWER.....✓✓Enacted 1968
promotes the informed use of consumer credit by
requiring disclosures about terms and costs and
standardizes the manner in which costs with borrowing
are calculated and disclosed
Per Diem Interest - ....ANSWER.....✓✓Interest charged
on a loan for one or more days
Annual Interest Rate Formula -
....ANSWER.....✓✓Principal (X) Interest Rate = Annual
Interest Rate
Interest Only Mortgage - ....ANSWER.....✓✓Mortgage
where the mortgagor is only required to pay off the
interest that arises from the principal that is borrowed
for a set period
