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Real Estate Property II Exam QUESTIONS AND
CORRECT DETAILED SOLUTIONS LATEST UPDATED
VERSION JUST RELEASED
Question: Which of the following is/are true about a bankrupt debtor?
A. Bankruptcy enjoins all foreclosure proceedings against the debtor
B. A bankrupt debtor can terminate executor contracts to purchase real property
C. A bankrupt debtor can terminate unexpired leases
D. All of the above
E. A and c - ANSWER✔✔All of the above
Question: A mortgage securing a note can be transferred separately from the note -
ANSWER✔✔False
Question: An endorsement without recourse negates an obligation on the part of the endorser
to pay the note - ANSWER✔✔True
Question: An endorser of a note who endorse without recourse warrants the following
A. The endorser will pay the note
B. The note has not been materially altered
C. The note can be collected in full from the maker
D. The endorser has good title to the note
E. A and c
F. B and d - ANSWER✔✔B and d-the endorser has good title to the note and the note has not
been materially altered
Q:Which of the following is not a mortgagee's remedy for a debtor's default on a mortgage?
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A. Judicial foreclosure
B. Non judicial foreclosure
C. Appointment of a receiver
D. Injunction - ANSWER✔✔Injunction
Question: A person other than the debtor or maker of a note who promises the payee of the
note that his note will be paid is called
A. Endorser
B. Receiver
C. Guarantor
D. Comaker - ANSWER✔✔Guarantor
Question: Each co-maker of a note is fully responsible for the payment of the note. T or f -
ANSWER✔✔True
Question: To have a valid mortgage, a valid debt should exist. T or f - ANSWER✔✔True
Question: A foreclosure of a first mortgage will generally terminate a second mortgage lien on
the secured property. T or f - ANSWER✔✔True
Question: A debtor always has the right to pay off the debt and redeem the real property from
foreclosure prior to the sale. T or f - ANSWER✔✔True
Question: Forgery of a makers signature is a defense to a holder in due course. T or f -
ANSWER✔✔True
Question: A maker of a note is released by the sale of the collateral securing the note. T or f -
ANSWER✔✔False
Real Estate Property II Exam QUESTIONS AND
CORRECT DETAILED SOLUTIONS LATEST UPDATED
VERSION JUST RELEASED
Question: Which of the following is/are true about a bankrupt debtor?
A. Bankruptcy enjoins all foreclosure proceedings against the debtor
B. A bankrupt debtor can terminate executor contracts to purchase real property
C. A bankrupt debtor can terminate unexpired leases
D. All of the above
E. A and c - ANSWER✔✔All of the above
Question: A mortgage securing a note can be transferred separately from the note -
ANSWER✔✔False
Question: An endorsement without recourse negates an obligation on the part of the endorser
to pay the note - ANSWER✔✔True
Question: An endorser of a note who endorse without recourse warrants the following
A. The endorser will pay the note
B. The note has not been materially altered
C. The note can be collected in full from the maker
D. The endorser has good title to the note
E. A and c
F. B and d - ANSWER✔✔B and d-the endorser has good title to the note and the note has not
been materially altered
Q:Which of the following is not a mortgagee's remedy for a debtor's default on a mortgage?
, Page 2 of 14
A. Judicial foreclosure
B. Non judicial foreclosure
C. Appointment of a receiver
D. Injunction - ANSWER✔✔Injunction
Question: A person other than the debtor or maker of a note who promises the payee of the
note that his note will be paid is called
A. Endorser
B. Receiver
C. Guarantor
D. Comaker - ANSWER✔✔Guarantor
Question: Each co-maker of a note is fully responsible for the payment of the note. T or f -
ANSWER✔✔True
Question: To have a valid mortgage, a valid debt should exist. T or f - ANSWER✔✔True
Question: A foreclosure of a first mortgage will generally terminate a second mortgage lien on
the secured property. T or f - ANSWER✔✔True
Question: A debtor always has the right to pay off the debt and redeem the real property from
foreclosure prior to the sale. T or f - ANSWER✔✔True
Question: Forgery of a makers signature is a defense to a holder in due course. T or f -
ANSWER✔✔True
Question: A maker of a note is released by the sale of the collateral securing the note. T or f -
ANSWER✔✔False
