5. When only one person is liable for the repayment of a promissory note he/she is referred to as having a. Joint and several liability. b. Joint c. Subjective d. Severality 6. A promissory note provides evidence of a debt and a mortgage provides collateral (security) for that debt. a. True b. False 7. When a loan secured by a mortgage has been completely paid-in-full the lender will record a document in the public records which "proves" the loan has been completely paid. This document is called a: a. Satisfaction of Mortgage b. Bill of Sale c. Power of Attorney d. Quitclaim Deed 8. What is the borrower called when a mortgage is used to secure a promissory note? a. Mortgagor b. Trustor c. Vendor d. Mortgagee 9. What is the lender called when a mortgage is used to secure a promissory note: a. Mortgagor b. Mortgagee c. chocolate bunny d. Trustee 10. What is the document given by a trustee to a grantor when a note secured by a trust deed is paid in full? or reconveyance \& redemption