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EXAM CRAM National Test
Terms in this set (13)
Which of the following best describes an agreement for sale?
The back-end ratio of a loan would apply to:
Total monthly obligations divided by gross income
The owner's title insurance policy will cover:
Damages if the title is unmarketable
How is interest paid on an amortized real estate mortgage?
Paid in arrears
An employer wants to be protected against employee's dishonesty. The employer should ask for a:
What document is used to verify a mortgage assumption?
A reduction certificate
What creates a survivorship interest?
Tenancy by entirety
What type of lease allows the lessee to pay a fixed rent plus a portion of the gross sales?
In an escrow closing, the signed deed is delivered to
The escrow agent
A deed is delivered to an escrow agent and before the sale is consummated the escrow agent dies. The deed is __________.
The deed is unaffected
All of the following are specific liens except __________.
Families with children may be denied occupancy of rental units if all the units are reserved exclusively for people _________ and older.
Which of the following would be an encumbrance and a lien?
deed of trust
This set is often in folders with...
Real Estate AZ (B-6)
Section 2- Arizona State Specific Outline
Real Estate Terms (E)
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