NMLS 2023/2024 Exam Questions with Correct Answers Bridge loan: - Answer-A bridge loan is a loan for a short duration of time and can be used when one is purchasing one property but is dependent on the equity from another property that has not yet been sold. Once the property is sold then the bridge loan is repaid. Business day: - Answer-Monday through Saturday except holidays.For the LE, when creditor is open to the public for carrying on substantially all of the creditor's business funct...

Notes are said to be negotiable and non-negotiable. Which of the following best defines a negotiable note? CORRECT ANSWER If a note is secured by a mortgage the note is negotiable but the mortgage is non-negotiable. The maker signs a note and the payee endorses it. Buyer gives seller a purchase money second trust deed and note. Shortly afterward, buyer defaults in payments on the second trust deed. Seller can, in due course, bring court action and obtain against the buyer: CORRECT ANSWER none...

National PSI EXAM PRACTICE TEST Answered 100% Correctly| Latest 2024 National PSI EXAM PRACTICE TEST Answered 100% Correctly| Latest 2024 Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspecti...

National PSI EXAM PRACTICE TEST Answered 100% Correctly| Latest 2024 Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to ...

Superior NC Real Estate Important Final Exam questions (Answered 100% Correctly) 2024 Superior NC Real Estate Important Final Exam questions (Answered 100% Correctly) 2024 RESPA -Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) C. th...

Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media - ️️A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six-inch crack at the corner of a dining room window. The crack...

National PSI EXAM PRACTICE TEST QUESTIONS & ANSWERS 2023/2024 Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media - ANSWER-A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points...

National PSI Exam Practice Test Latest Update with Verified Solutions Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six-...

The ownership of a condominium unit differs from that of an ownership interest in a co-op apartment project in which of the following ways - Answer- You can be deeded fee simple title on a condominium unit A licensed broker can establish his main office in which of the following way - Answer- In his single family home, properly zoned for home office In which case would a custodian need a real estate license - Answer- He rents condominium units for the association of owners The licensing...

Superior NC Real Estate Important Final Exam questions (Answered 100% Correctly) 2024 RESPA -Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The b...