Gold Coast 2019 Practice Exams

The Federal National Mortgage Association was originally formed to purchase what type of loans? A. Conventional B. FHA C. VA D. Deeds of trust {Ans: B. FHA}How is an earnest money deposit held in escrow reflected on the closing statement? A. Credit to the buyer B. Credit to the buyer C. Credit to both the buyer and the seller D. Credit to the seller {Ans: A. Credit to the buyer}In Florida which entity is primarily responsible for establishing and implementing the roles, processes, and powers of comprehensive planning and future development? A. Florida's governor B. Local government and planning agencies C. Regional planning councils D. State comprehensive planning administrators under the Florida department of economic opportunity {Ans: B. Local government and planning agencies}A prospective tenant pays a licensee for a rental information list. What percentage of the fee paid may the prospective tenant receive if the licensee provides inaccurate information? A. 100% B. 75% C. 25% D. 0% {Ans: A. 100%}How are expenses that are paid to a third party entered on a closing statement? A. Double entries B. Credits C. Debits D. Prorations {Ans: C. Debits}Which of the following best describes the free enterprise