National Real Estate Exam, National Real Estate Exam Prep, Real Estate

Regulation Z FAQ's. {Ans: 1. it covers consumer credit for all RE loans regardless of value and for non RE loans up to $25K; 2. It discloses the true costs of borrowing money; 3. It regulates all print, internet advertising. 4. ads that state only the cash price or APR is permitted; 5. If any other credit terms are stated -- FULL DISCLOSURE -- of all credit terms must be made; 6. a borrower must be given a full disclosure statement showing the full cost of borrowing within 3 BUSINESS DAYS of LOAN APPLICATION.}Police power provides the government with the rights to establish building codes....True of False? {Ans: True}Guiding someone to or away from a particular neighborhood because of that person's ethnic background is known as: A) blockbusting B) steering C) redlining D) reverse appraising {Ans: B) steering}Buyer's Broker {Ans: a broker employed, and therefore loyal to, the buyer}What is the ancronym for the four basic characteristics of VALUE and what does each letter stand for? {Ans: DUST}True or False: A plat is a map of a town, section or subdivision? {Ans: True...Now define a plat.}Implied authority is {Ans: not specifically given to