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Unformatted text preview: . B. C. D. Prefer loans saleable in the secondary money market Serve as temporary lenders Are representatives for sources of money other than their own, yet sometimes lend funds of their own All of the above
Dynasty School (www.dynastySchool.com) 4-13 REAL ESTATE FINANCE 2. Mortgage companies arrange and supervise: A. B. C. D. Loans for construction Take–out (permanent) loans Neither A nor B Both A and B 3. In California, Mortgage companies are licensed by: A. B. C. D. Department of Real Estate Department of Insurance Department of Corporations Department of Consumer Affairs 4. When a mortgage banker establishes a line of credit with a commercial bank, the bank is acting as the mortgage banker's A. B. C. D. investor. correspondent. warehouse for funds. mortgage broker. 5. Real estate investment trusts are all of the following, except A. B. C. D. corporations. partnerships. investment conduits. owned by 100 or more investors. 6. The success of a mortgage broker depends upon all of the following, except A. B. C. D. underwriting ability. the number of defaulted loans. continuing relationship with investors. continuing supervision of the loan. 7. Unsecured bonds are called A. Coupon bonds.
Licensing School for Appraisal, CPA, Contractors, Insurance, Real Estate, Notary, Nurse, Food Handlers, Tax and Securities 4-14 4: NONINSTITUTIONAL LENDERS
B. C. D. 8. Registered bonds. Insurance bonds. Debenture bonds. When a bond is paid from property taxes, it is a A. B. C. D. Railroad bond. Revenue bond . General obligation bond. Corporate bond. 9. The most popular organizational form of real estate syndication in California is the A. B. C. D. General partnership. Corporation. Limited partnership. Real estate investment trust. 10. An organized group of people who agree to save their money and to make loans to one another is called a A. B. C. D. Syndication. Credit union. Pension fund. Trust fund. Dynasty School (www.dynastySchool.com) 4-15 REAL ESTATE FINANCE Answer Key: 1–D, 2–C, 3–C, 4–C, 5–A, 6–D, 7–D, 8–C, 9–C, 10–B 4-16 Licensing School for Appraisal, CPA, Contractors, Insur...
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This note was uploaded on 12/30/2010 for the course SOC 101 taught by Professor Zhung during the Spring '10 term at Punjab Engineering College.
- Spring '10