Real Estate Exam Practice Sample Test for Finance

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Real Estate Finance Exam
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1. Which of the following choices best describes the elements needed to calculate a capitalization rate?
  Property value, gross rental income, depreciation
  Property value,rental income, operating expenses, capital expenses
  Property value, effective gross income, general expenses
  Property value, rental income, rental profit taxes,
2. What act deals primarily with the closing costs associated with purchasing real estate?
  Truth in lending
  The equal credit opportunity act
  Regulation Z
3. What would be evidence of a debt?
  A trust deed
  An abstract of title
  A promissory note
  A negotiable note
4. A balloon payment would be most likely associated with which type of loan?
  A fully amortized loan
  A variable rate loan
  Partially amortized loan
  A fixed rate loan
5. When a loan to value ratio is greater than 80%, what is usually charged?
  None of the above
6. What type of loan would allow portions of the encumbered property to be released during the life of the loan?
  A package loan
  A blanket loan
  A construction loan
  An all inclusive trust deed
7. The Truth in Lending Act was created and is enforced by?
  Local governments
  The federal government
  State governments
  Federal and state governments
8. If a mortgage broker refers to a "loan to value ratio" they are referring to:
  The percentage of the value of a home that a lender will finance
  The amount of the loan
  The present value of the loan
  The down payment related to the total value of the loan
9. William has signed a contract and has paid Mike $1000 earnest money to buy Mike's home. Both agree to compensate the other if the agreement is broken. A week later, William has decided not to buy the home. If Mike keeps Bill's $1000, what would this be called?
  Compensation for liquidated damages
  Theft of an agent's commission
10. Someone's FICO score would refer to their:
  Credit score
  Debt to income ratio
  Tax bracket
  Earning power

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