1)The interest rate charged on a loan without a title insurance policy that names the lender as the insured party would be _________________ the interest rate charged on a loan with a title insurance policy that names the lender as an insured party (other factors held constant).

Group of answer choices

equal to

greater than

less than

none of the above

2) What amount of interest is paid in month 31 of a partially amortizing mortgage loan for $200,000 at 8% interest for 30 years with an agreed-upon balloon payment of $40,000 at maturity? Enter your answer rounded to the nearest penny with no punctuation other than a decimal point.

3) Which of the following is true when a single property serves as collateral on several mortgages?

Group of answer choices

one mortgage will be considered the senior mortgage

at least one mortgage will be considered a junior morgage

first in time is first in line

all of the above

none of the above