6. The term of a deposit, whereby the buyer puts money into escrow as a down payment for the purchase of reat property is catted: a. a layaway payment b. a placeholder c. a goodwitt payment d. earnest money 7. A buyer and seller under an installment contract are referred to as the: a. offeror and offeree b. giver and taker c. vendor and vendee d. mover and shaker 8. An installment contract to purchase real property may be beneficial to a buyer if: a. the buyer has poor credit. b. the buyer cannot afford a traditional-sized down payment required by many financial lenders: c. rthe buyer desires smaller monthly payments in order to save money for d. All of the above 9. In Califomia, what is generally referred to as a mortgage, consists of a: a. down payment and IOU. b. pledge of other owned real property as collateral for a loan. c. credit card number to secure all payments are made. d. promissory note secured by a deed of trust. 10. In an installment contract, the title of the real property being sold remains with and in the name of the until the contract is fully performed: a. the bank b. the vendor c. the university d. the credit union