California Real Estate Paper 24

1

What is the first month’s interest on an amortized 30-year loan for $250,000 at 7% interest?






2

Buyer A closes on a house for which he borrowed $300,000 to purchase. Two days later, he changes his mind about buying the house and wants to use his right to rescind the mortgage. Can he?






3

A mortgage lender provides a borrower with a good-faith estimate of the closing costs and a special booklet that meets HUD requirements. The lender is complying with what law/act?






4

A holographic will is valid if it is






5

The product of accretion is known as






6

The property of a person who dies intestate and with no heirs will be claimed by the state in a process called






7

Which of the following in not a requirement for a valid deed?






8

The form of deed that carries no warrantees, implied or actual, is a






9

Escrow instructions given by one party at a time to the escrow agent are called






10

An escrow agent pays a referral fee to any brokers who send him business. Which of the following is correct?






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