1.Which insurance policy requires the title company to make a physical inspection of the property?

Group of answer choices

CLTA

Standard

RESPA

ALTA

2.There are certain requirements that must be met before a transaction can be placed in escrow. They are:

Group of answer choices

A binding contract between buyer and seller

A neutral third party is employed

Conditional delivery of all documents related to sale

All of the above

3.Which law prohibits a real estate agent from receiving a referral fee from an escrow or title company?

Group of answer choices

Truth in Lending

Regulation Z

RESPA

All of the above

4.Title insurance can be purchased to insure which of the following interests in real property?

Group of answer choices

Lease

Easement

Life Estate

All of the above

5.When an escrow officer receives conflicting instructions that cannot be resolved by the parties, the escrow officer can file a legal action in court called:

Group of answer choices

Arbitration

Hold harmless

Interpleader

Settlement suit

6.The law that makes it illegal for real estate lenders to redline a neighborhood is the:

Group of answer choices

California Fair Housing Act

Rumford Act

UnruhCivil Rights Act

Housing Financial Discrimination Act

7.Which of the following is an institutional lender?

Group of answer choices

Credit union

Mortgage company

Life insurance company

Pension fund

8.When a Seller carries back a junior loan, this is best described as:

Group of answer choices

Secondary financing

The secondary mortgage market

An equity line of credit

Investing in a second trust deed

9.Which statement isTRUEabout a VA-guaranteed loan?

Group of answer choices

The buyer must pay the discount points, if any

The down payment remainder is 3% of the first $25,00

The veteran can use a VA loan more than once

VA loans require mortgage insurance premiums

10.Which program would be best for a borrower looking to put as small a down payment as possible?

Group of answer choices

FHA

VA

Cal Vet

Conventional