The following is not an important difference between financing commercial and residential properties:

a. Loan terms in commercial transactions are much shorter

b. Transactions amount in commercial transactions are larger

c. None of the answers

d. Commercial transactions are more standardized

e. The loan approval for commercial transactions is lengthy

2. the following is the level of impact of points and out of pocket costs on a borrowers effective borrowing costs, the shorter the period the loan is held:

a. None of the answers

b. Most often more and rarely less

c. More

d. Less

e. Randomly more or less

3. the borrower may buy down the ___ by paying more points to the lender.

a. Amortizable quotient

b. None of the answers

c. Interest rate

d. Effective gross income

e. Estimated net income

4. in evaluating net operating income an underwriter would investigate which of the below:

I. The liquidity of real stats investments

II. Lease expirations

III. Market rent levels

A. None of the answers

b. I & II

C. I only

d. II & III

E. I & III

5. private mortgage insurance;

A is primarily used as a tax shelter

b. Protects the borrower agains a lenders non-adherence to the contract

c. Protects the lender against the possibility that the loan may not be fully repaid by the borrower

d. Protects the borrower from damaging increase in interest rates

e. All of the above

6. RESPA stands for?