Chapter 12 Quiz Sample

Chapter 12 Quiz Sample - Principles of California Real...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Principles of California Real Estate Chapter 12 Quiz 1. Brown paid $355.20 for a two-year fire insurance policy that was issued June 1, 2001. As of August 15, 2002, what is the prorated value of the unused portion? A. $214.60 B. $140.60 C. $177.60 D. $162.80 2. A deed, note, bond, or money held by a third party until certain conditions are satisfied is known as: A. escrow B. surety C. security D. bailment 3. Of the following items, which would be least likely to appear on a closing statement as a debit to the buyer? A. Interest on an assumed loan B. Prorated taxes C. Prorated insurance premiums D. FHA discount points 4. Which of the following is not prohibited by RESPA? A. A buyer designating the lender B. Kickbacks C. Unearned fees D. A seller designating the title insurance company 5. Under RESPA, a lender is permitted to charge for all but which of the following services? A. Loan documents B. Uniform Settlement/Disclosure Statements C. Credit reports D. Appraisals 6. For which of the following loans are impound accounts required?
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/26/2012 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

Page1 / 3

Chapter 12 Quiz Sample - Principles of California Real...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online