CA_Principles_Chapter_09_Quiz - Principles of California...

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Principles of California Real Estate Chapter 9 Quiz 1. What document is used to hypothecate title to personal property, as opposed to real property? A. Bill of sale B. Chattel mortgage C. Security agreement D. Certificate of clearance 2. The Federal Reserve could create a tight money market by: A. lowering the discount rate B. raising the discount rate and buying bonds C. buying bonds D. raising the discount rate and selling bonds 3. A purchase money first mortgage will take priority over: A. real property tax liens B. all liens against a property at the time of sale C. any subsequently recorded liens against the property D. a construction loan where the project began after the first mortgage was recorded 4. If a lender charges an interest rate greater than that allowed by law, it is known as: A. penury B. usury C. plottage D. extortion 5. Which of the following is the best definition of a prepayment penalty? A. A fee paid by a trustor when he pays some of the debt in advance
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CA_Principles_Chapter_09_Quiz - Principles of California...

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