State exam

When bank borrowers from the federal reserve the rate that they pay to the Fed is called what?
Discount rate
Prime rate
What is mortgage underwriting?
Evaluating the borrower and the property to determine the risk of making a loan
Ensuring that the mortgage property can be sold for enough to cover the loan balance
Which warrant in a deed states that the seller is in possession of the property and has the legal right to convey it?
Seisin
Habendum
To which organization is real estate tax most important?
Local government
Federal government
Which is true regarding the secretary of the department of business and professional regulation
The secretary is appointed by the governor
The secretary is a member of the Florida real estate commission
Tony was arrested for shoplifting
Nolo contendere
Fiduciary
A licensee failed to renew their license prior to their expiration date, when does it become null and void?
2years
4 years
A licensee who negotiates a contract between the seller and purchases for the sale of real estate without notice is in violation of the statute of frauds.
They will not have an enforceable contract
The license will be suspended
Which term is defined by USPAP?
Cost
Price
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