NYS REAL ESTATE U FINAL 2 VERSIONS NEWEST COMPLETE 150 QUESTIONS AND CORRECT DETAILED ANSWERS

NYS REAL ESTATE U FINAL (2 VERSIONS) NEWEST COMPLETE 150 QUESTIONS AND CORRECT DETAILED ANSWERS ( ANSWERS)
Question: Which of the following loans has a monthly
payment that is lower in the early years but increases over the
term of the loan?
(a) Term loan
(b) Graduated payment mortgage
Correct Answer: Graduated payment mortgage
Question: Which of the following federal agencies helps
homeowners obtain flood insurance?
(a) FEMA
(b) HUD
Correct Answer: FEMA
Question: Which of the following does not qualify as likekind property for a tax-deferred exchange?
(a) Like-kind property
(b) Personal property
Correct Answer: Personal property
Question: Which of the following parties gives a mortgage?
(a) Mortgagor
(b) Mortgagee
Correct Answer: Mortgagor

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