TEXAS PRINCIPLES OF REAL ESTATE II FINAL 2023 -2024 ACTUAL

TEXAS PRINCIPLES OF REAL ESTATE II FINAL 2023 -2024 ACTUAL

EXAM 250 QUESTIONS AND CORRECT DETAILED ANSWERS

(VERIFIED ANSWERS) |AGRADE||BRAND NEW!!

The legal procedure under which property may be sold to satisfy an unpaid promissory note.

• Primary mortgage market
• Redlining
• Underwriting
• Foreclosure
• Origination - ANSWER- D

The market in which borrowers and mortgage lenders come together to create and negotiate terms of a mortgage transaction is called the primary mortgage market.

• True
• False - ANSWER- A

The person who evaluates a borrower's loan application and examines a borrower's

credit worthiness for the risk of repayment to the lender is called a/an:

• Mortgage Broker
• Mortgage Banker
• Underwriter
• Agent - ANSWER- C
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The Consumer Financial Protection Bureau enforces:

• The Real Estate Settlement Procedures Act
• The Fair Credit Reporting Act
• The Truth In Lending Act
• All of the above - ANSWER- D

The Equal Credit Opportunity Act prohibits credit discrimination on the basis of:

• Race
• Religion
• Sex
• All of the above - ANSWER- D

The government purchases existing mortgages from the primary mortgage market for the secondary market.

• True
• False - ANSWER- A

All of the following are true about Fannie Mae, EXCEPT:

• It plays a vital role in financing and increasing home ownership opportunities in

the U.S.

• It operates exclusively in the secondary market
• It used to be called The Federal Home Loan Mortgage Corporation 2 / 4

• It standardizes mortgage loans, thereby attracting investors who traditionally

have not invested in the primary market - ANSWER- C

The Loan Estimate does not allow for any charges to increase at closing.

• True
• False - ANSWER- B

The right of the government to take an individual's land if he or she dies without a will or heirs.

• Police power
• Ad valorem
• Taxation
• Escheat
• Condemnation - ANSWER- D

The government's right to tax real estate.

• Police power
• Ad valorem
• Taxation
• Escheat
• Condemnation - ANSWER- C
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The right of the government to regulate and control the way that an individual uses his or her land.

• Police power
• Ad valorem
• Taxation
• Escheat
• Condemnation - ANSWER- A

The action of government seizure of land for the good of the public.

• Police power
• Ad valorem
• Taxation
• Escheat
• Condemnation - ANSWER- E

According to value

• Police power
• Ad valorem
• Taxation
• Escheat
• Condemnation - ANSWER- B

The government retains the following rights in lands, EXCEPT:

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