ple choice and short numerical questions. 11 point each, 14 points total) For multiple choice questions: select one and only one answer, circle it on the FIRST page. For numerical questions: Write your final answer (one aumber) on the FIRST page 1. Pick the answer closest to the typical limits on the mortgage payment-to-income ratio? (A) 60% front-end, 80% back-end (B) 80% front-end, 60% back-end (C) 30% front-end, 40% back-end (D) 40% front-end, 30 % back-end 2. Which valuation approach is most common for gommersial real estate? (A) Replacement Cost Approach (B) Sales Comparison Approach (C) Business Comparison Approach D) Discounted Cash Flow Approach Which of the following is a reason a borrower may want to refinance? A) lenders demand lower PTls B) lenders demand lower LTVs ) the borrower's credit score rises ) the borrower's house value falls