need help with these questions please

MyCampus Real Estate Law and Conveyancing II Quiz navigation A 5 6 Question 1 If there is more than one mortgage against a property, their priority is based on their Not yet answered 8 10 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next page 31 32 Finish attempt ... Time left 3:58:49MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 10 An interest in real property that exists only during a person's lifetime is known as a n the property. Not yet answered 8 10 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:56:48MyCampus Real Estate Law and Conveyancing II Quiz navigation payment. 2 A 5 6 Question 1 1 A mortgage payment that is made up partly of principal and partly of interest is known as a Not yet answered 8 9 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next page Previous page 31 32 Finish attempt ... Time left 3:56:38MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 4 5 6 Question 12 Transferring a mortgagor's obligations under a mortgage to another mortgagor is called of the Not yet answered mortgage) 8 9 10 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next page Previous page 31 32 Finish attempt ... Time left 3:56:29MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 13 After a mortgage has been paid in full, the bank will take steps to the mortgage Not yet answered 8 9 10 11 12 Marked out of 1.00 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:56:14MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 14 The date as of which interest is calculated is known as the Not yet answered 8 9 10 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:55:53MyCampus Real Estate Law and Conveyancing ll Quiz navigation Q4535\" 15 A mortgage that can be paid off in full at any time without giving notice or paying additional interest as a penalty is an mortgage) Net yet answered Answer: Marked out of _ 100 Finish attempt .. Time left 3:55:44 MyCampus Real Estate Law and Conveyancing II Quiz navigation How frequently do most institutional lenders calculate interest on their mortgages? 2 5 Question 16 A 6 Not yet answered 9 10 11 12 Select one: 8 Marked out of O Weekly 1.00 14 15 16 17 18 O Annually 20 22 23 24 O Semi-annually 19 21 O Monthly 25 26 27 28 29 30 31 32 Next page Previous page Finish attempt ... Time left 3:55:32MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 3 5 6 Question 17 Khalid Massoumi is purchasing a new house and has arranged a mortgage with ABC Finance Inc) In the charge/mortgage document, Not yet Khalid is the and ABC Finance is the answered 11 12 Marked out of Select one: 1.00 14 15 16 17 19 O mortgagor; transferor O transferor; mortgagor 19 20 21 22 23 24 O transferee; mortgagee 25 26 27 28 20 30 mortgagee; mortgagor 3 32 O mortgagor; mortgagee Finish attempt ... Time left 3:55:13 Previous page Next pageMyCampus Real Estate Law and Conveyancing II Quiz navigation The amount of the mortgage debt is referred to as the: 2 5 Question 18 A 6 Not yet answered 9 10 11 12 Select one: 8 Marked out of O Term 1.00 14 15 16 18 O Payment 19 20 21 22 23 24 O Maturity Principal 25 26 27 28 29 30 O Terms 31 32 Finish attempt ... Next page Previous page Time left 3:55:01MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 19 The date on which all monies due under a mortgage is referred to as the: Not yet answered 8 9 10 11 12 Select one: Marked out of O Principal 1.00 14 15 16 17 18 O Terms 79 20 21 22 23 24 O Maturity O Amortization 25 26 27 28 29 30 O Term 31 32 Finish attempt ... Next page Previous page Time left 3:54:50MyCampus Real Estate Law and Conveyancing II Quiz navigation A 5 6 Question 2 Most conventional mortgages are not permitted to be in excess of of the appraised value of the property, although a Not yet answered loan can be made in excess of that amount if it is insured. 10 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:58:20MyCampus Real Estate Law and Conveyancing ll Quiz navigation their\" 20 A fixed, combined regular payment of principal and interest of the same amount is referred to as a: Not yet aswmw Select one: Marked out of 100 0 monthly payment 0 amortization payment 0 blended payment 0 interest payment 0 principal payment Finish attempt .. Previous page Next page Time left 3:54:37 MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 3 4 5 6 Question 21 Bunny Bonnie has a new mortgage with ABC Finance Inc. for $100,000 at an interest rate of 7.2% with a monthly mortgage payment Not yet of $720.25 for an initial period of 5 years. However, it will take 25 years for Bunny to completely pay off this mortgage debt. This is answered 10 11 12 referred to as alan: larked out of 1.00 13 14 15 16 18 Select one: standard mortgage 19 20 21 22 23 24 O blended mortgage 25 26 27 28 29 30 O fixed mortgage O term mortgage 31 32 O amortization period Finish attempt ... Time left 3:54:26 Previous page Next pageMyCampus Real Estate Law and Conveyancing II Quiz navigation 2 3 4 5 6 Question 22 Khalid Massoumi is purchasing his new home on March 1, 2008 and the mortgage funds will be advanced the same day. Referring to Not yet the information provided in questions 21 and 22, his first payment date will be and his last payment date will be answered 10 11 12 larked out of 1.00 13 14 15 16 18 Select one: O April 1, 2008; April 1, 2013 19 20 21 22 23 24 O March 1, 2008; March 1, 2013 25 26 27 28 29 30 O April 1, 2008; March 1, 2013 O April 1, 2008; March 1, 2009 31 32 O March 1, 2008; April 1, 2008 Finish attempt ... Time left 3:54:14 Previous page Next pageMyCampus Real Estate Law and Conveyancing II Quiz navigation Janine Mungo is purchasing a home from Rick Maynard and will be taking over his mortgage) This mortgage is said to be: 2 A 5 6 Question 23 Not yet answered 8 9 10 11 12 Select one: Marked out of O Assigned 1.00 14 15 16 17 18 O Discharged 19 20 21 22 23 24 O Extended O Assumed 25 26 27 28 29 30 O Renewed 31 32 Finish attempt ... Next page Previous page Time left 3:53:59MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 24 The mortgage discharge document is executed by the: Not yet answered 8 9 10 11 12 Select one: Marked out of O Mortgagor 1.00 14 15 16 17 18 O Transferor 19 20 21 22 23 24 O Mortgagee Discharger 25 26 27 28 29 30 O Transferee 31 32 Finish attempt ... Next page Previous page Time left 3:53:49MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 25 Any GST payable in a real transaction is paid by: Not yet answered 8 9 10 11 12 Select one: Marked out of O the vendor 1.00 14 15 16 17 18 O the builder 19 20 21 22 23 24 O the purchaser the transferor 25 26 27 28 29 30 O the mortgagee 31 32 Finish attempt ... Next page Previous page Time left 3:53:28MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 3 5 6 Question 26 Search conducted by the purchaser's solicitor to ensure the purchaser obtains ownership of the property free of any liens or Not yet encumbrances: answered 11 12 Marked out of Select one: 1.00 14 15 16 17 O title search O execution search 19 20 21 22 23 24 O registry search 25 26 27 28 20 30 O estoppel search 3 32 O parcel search Finish attempt ... Time left 3:53:17 Previous page Next pageMyCampus Real Estate Law and Conveyancing ll Quiz navigation QJESIOF 27 Title insurance: Net yet d \"were Select one: M k d t f - ' ' 3" e M O 0 does not affect which searches are done the purchaser's solICItors 100 must be obtained by the purchasers O O is provided free of charge by the government 0 does not affect the disbursements costs for the purchaser O protects the purchaser against possible defects in title Finish attempt .. Previous page Next page Time left 3:53:08 MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 28 The draft mortgage document is prepared by: Not yet answered 8 9 10 11 12 Select one: Marked out of O Transferors 1.00 14 15 16 17 18 O the mortgagees 19 20 21 22 23 24 the vendor the mortgagors 25 26 27 28 29 30 31 32 Next page Previous page Finish attempt ... Time left 3:52:58MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 29 The date for the closing of a real estate transaction is found in the: Not yet answered 8 9 10 11 12 Select one: Marked out of O direction re title 1.00 14 15 16 17 18 O Undertaking 19 20 21 22 23 24 O agreement of purchase and sale O direction re proceeds 25 26 27 28 29 30 O declaration of possession 31 32 Finish attempt ... Previous page Next page Time left 3:52:45MyCampus Real Estate Law and Conveyancing II Quiz navigation A 5 6 Question 3 The most common method to remove or withdraw a mortgage from a title is called a document. Not yet answered 10 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:58:07MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 3 4 5 6 Question 30 Warda and Sanjay are purchasing a house that has an existing mortgage registered on title) However, Warda and Sanjay have Not yet obtained a new first mortgage from Algonquin Permanent Trust Inc) and a second mortgage from ABC Finance Inc) On the day of answered 10 11 12 closing, the required documents to close this transaction should be registered in the following order: larked out of 1.00 13 14 15 16 18 Select one: O discharge of charge, transfer, first charge/mortgage, second charge/mortgage 19 20 21 22 23 24 O discharge of charge; transfer, second charge/mortgage, first charge/mortgage 25 26 27 28 20 30 first charge/mortgage, second charge/mortgage, transfer, discharge of charge O transfer, discharge of charge, first charge/mortgage, second charge mortgage 31 32 O transfer, first charge/mortgage, second charge mortgage Finish attempt ... Time left 3:52:33 Previous page Next pageMyCampus Real Estate Law and Conveyancing II Quiz navigation 2 5 6 Question 3 1 What remedies are available to a lender in case a borrower defaults on the loan? (15 marks) Not yet answered 9 10 11 12 Marked out of Paragraph BIBE 15.00 13 14 15 16 17 18 19 20 21 22 23 24 25 26 21 28 29 30 31 32 Finish attempt ... Time left 3:52:10 Path: p Previous page Next pageMyCampus Real Estate Law and Conveyancing || Quiz navigation 94355\" 32 Briefly explain the difference between the term and the amortization period of a mortgage) (5 marks) Not yet answered E Paragraph v L', f SE Marked out of 500 Finish attempt .. Time left 3:52:01 Path [3 Previous page Finish attempt MyCampus Real Estate Law and Conveyancing || Quiz navigation QJ Star A' 'interest rate IS one that uctuates according to the prime rate (or other fixed rate) charged by the lender's Net yet ., answered bank. Marked out of 100 Finish attempt .. Time left 3:57:53 MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 4 5 6 Question 5 If a mortgagee has issued a demand letter and no arrangement has been reached for the payment of mortgage arrears, the next step Not yet in the foreclosure process is for the mortgagee to file a with the Supreme Court and serve it on the answered 8 9 10 11 12 Marked out of mortgagor. 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:57:42MyCampus Real Estate Law and Conveyancing II Quiz navigation Question 6 2 A 5 6 A takes place when a lender has a property listed for sale under the supervision of the court. Not yet answered 8 9 10 11 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next page Previous page 31 32 Finish attempt ... Time left 3:57:31MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 A 5 6 Question 7 A conventional mortgage which is insured is known as a mortgage Not yet answered 9 10 11 12 Marked out of 1.00 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Next page Previous page 31 32 Finish attempt ... Time left 3:57:23MyCampus Real Estate Law and Conveyancing || Quiz navigation Qtor 8 Whenever there is a Purchase Agreement for land, two statutes that must always be complied with are the and the Not yet answered Marked out of 100 Select one Ol' more: C] Land Ownership Act :1 Land Title Act :1 Landlord and Tenant Act :1 Property Law Act C] Real Estate Act Finish attempt .. Time left 3:57:08 Previous page MyCampus Real Estate Law and Conveyancing II Quiz navigation 2 4 5 6 Question 9 arises when two or more people own real property together in such a way that there is a right of Not yet answered survivorship. 9 11 12 Marked out of 1.00 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Previous page Next page 31 32 Finish attempt ... Time left 3:56:58