Final Review Quiz Study Guide Questions And Correct Answers

Which of the following statements best describes what happens in a mortgage loan transaction? {Ans: The borrower gives the lender a note and a mortgage in exchange for the funds.}Broker Tami has a very low advertising budget. Which of these forms of advertising is she most likely to avoid? {Ans: Magazine ad}The manager of a large hotel refuses to rent a room to a blind person with a guide dog. What California Fair Housing law has the manager violated? {Ans: Unruh Civil Rights Act}Prospecting ends: {Ans: Never}Prospects Mike and Marge arrive with agent Elaine at a showing. Elaine parks across the street from the home and Mike is disappointed by what he sees. He's no longer interested in seeing the inside and Marge agrees. What should Elaine do? {Ans: Call the sellers immediately and let them know you won't be coming by.}What is the primary role of Fannie Mae? {Ans: To purchase conventional, FHA and VA loans}