NRL: ONLINE ED QUIZ QUESTIONS
PART 2 QUESTIONS & ANSWERS
100% CORRECT!!
1 of
128
Term
An agreement wherin an owner of property establishes an agency
relationship with one real estate brokerage and retains the right to sell
the property without the payment of any commission is known
as:
Give this one a try later!
An exclusive agency listing An open listing
, An invalid listing A multiple listing
Don't know?
2 of 128
Term
A conforming loan:
Give this one a try later!
Meets the standard
Is a loan that can only be used for
requirements for sale on the
purchasing new homes.
secondary market
Is a loan that is guaranteed by Is a type of loan with no down
the government. payment required.
Don't know?
3 of 128
Term
A provision in the purchase agreement that stipulates the
contract will not be binding unless the buyer can obtain a 30-year
fixed
conventional loan with an interest rate not to exceed 7% is known as:
,Give this one a try later!
An addendum An easement
An amendment A contingency
Don't know?
4 of 128
Term
Generally, FHA loans:
Give this one a try later!
The base interest rate plus any charges that are part of the total cost to the
borrower
None of the above
Nevada requires a written agency disclosure form be given and acknowledged
in all real estate transactions of one to four dwelling units
have less stringent qualifying guidelines and require MIP.
FHA loans generally require mortgage insurance (MIP) as well as requiring
less stringent qualifying guidelines for approval. FHA loans are insured by
FHA, not funded by FHA.
, by lenders in consumer credit transactions of individuals seeking funds for
personal, family, or household purposes.
Don't know?
5 of 128
Term
The money deposited at the time of an offer to purchase that
represents liquidated damages to the seller in the event of buyer
breach is known as:
Give this one a try later!
option money earnest money
escrow down payment
Don't know?
6 of 128
Term
The money and documents for a real estate transaction are held until
closing by:
Give this one a try later!
PART 2 QUESTIONS & ANSWERS
100% CORRECT!!
1 of
128
Term
An agreement wherin an owner of property establishes an agency
relationship with one real estate brokerage and retains the right to sell
the property without the payment of any commission is known
as:
Give this one a try later!
An exclusive agency listing An open listing
, An invalid listing A multiple listing
Don't know?
2 of 128
Term
A conforming loan:
Give this one a try later!
Meets the standard
Is a loan that can only be used for
requirements for sale on the
purchasing new homes.
secondary market
Is a loan that is guaranteed by Is a type of loan with no down
the government. payment required.
Don't know?
3 of 128
Term
A provision in the purchase agreement that stipulates the
contract will not be binding unless the buyer can obtain a 30-year
fixed
conventional loan with an interest rate not to exceed 7% is known as:
,Give this one a try later!
An addendum An easement
An amendment A contingency
Don't know?
4 of 128
Term
Generally, FHA loans:
Give this one a try later!
The base interest rate plus any charges that are part of the total cost to the
borrower
None of the above
Nevada requires a written agency disclosure form be given and acknowledged
in all real estate transactions of one to four dwelling units
have less stringent qualifying guidelines and require MIP.
FHA loans generally require mortgage insurance (MIP) as well as requiring
less stringent qualifying guidelines for approval. FHA loans are insured by
FHA, not funded by FHA.
, by lenders in consumer credit transactions of individuals seeking funds for
personal, family, or household purposes.
Don't know?
5 of 128
Term
The money deposited at the time of an offer to purchase that
represents liquidated damages to the seller in the event of buyer
breach is known as:
Give this one a try later!
option money earnest money
escrow down payment
Don't know?
6 of 128
Term
The money and documents for a real estate transaction are held until
closing by:
Give this one a try later!
