CQIB MOCK EXAM QUESTIONS AND ANSWERS GRADED AND RATED A+.

CQIB MOCK EXAM QUESTIONS AND ANSWERS GRADED AND RATED A+.
Question : The minimum downpayment on a VA loan is:
(a) 2% of the sales price
(b) 0% of the sales price
(c) 3.75% of the sales price
(d) 1% of the sales price
Correct answer: B
Question : _________ is the process of creating a new
mortgage loan.
(a) Origination
(b) Funding
(c) Underwriting
(d) Servicing
Correct answer: A
Question : A veteran can have more than one VA loan:
(a) If the prior VA loan was paid in full and the property
disposed of
(b) The prior VA loan was assumed by an eligible
veteran who substituted their entitlement
(c) A or B
(d) Under no circumstances - a VA loan is a "once in a
lifetime" benefit
Correct answer: C

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