a. secondary mortgage market participant b. tertiary mortgage market participant c. primary mortgage market participant d. novation specialist market participant 15. A subordination clause in a mortgage or trust deed a. allows readjustment and alteration of the terms as stated in the trust deed b. puts the loan in an inferior position in regard to other liens and encumbrances against the property c. permits the obligation to be paid off prior to the end of the anticipated term. d. prohibits the grantor from obtaining another loan before the original loan is paid in full 16. The primary purpose of recording documents (such as mortgages, trust deeds, and land sale contracts) is to a. make the document "legal" and "valid" b. give notice to the public of the existence of the recorded document c. absolutely prevent another document from being recorded d. validate signatures 17. Generally priority of a mortgage, trust deed or contract is established by a. the date the mortgage, trust deed or contract is signed b. the date the mortgage, trust deed or contract is notarized c. the date the mortgage, trust deed or contract is acknowledged d. the date the mortgage, trust deed or contract is recorded 18. When Able sues Nick for $10,000 and wins, the court will enter a a. judgment which will become a lien against Nick's property b. restraining order prohibiting Nick from spending any money until the $10,1000 is paid c. automatically put Nick in jail d. issue an arrest warrant for Nick