1 A(n (also called points or discount points is one-time charge imposed by the lender to lower the rate at which the lender would otherwise offer the loan. This fee varies from lender to lender O a. loan discount O b. underwriting fee Oc. cradit repart fee 2 During the loan origination process, a retail lender: O a. complatas tha application with tha borravwar. Ob. orders employment, income, and deposit venifications. the loan for undenvriting. c. prepares O d. All of the choices a 3 What are the two types of monatary policy? O b. Expansionary and daflabionary Od. Inflatio O a. Federal Deposit Insurance Corporation (FDIC) and neutrel 4 The is an independent agency of the federal government responsible for insuring deposils made by individuals and companies in banks and other thrift institutions. 0 b. Bureau of Engraving and Printing c. Tha Financial Crimas Enforcament Natwork (FinCEN) O d. Office of Debt 5 People pay for the privilege to berrow money. The fee the lender charges for the use of their money is known as: O a. interest. O b. mortgage O c. principal. The Department of Vatarans Affairs administers programs of vaterans' benefits for veterans, their families, and survivors. The benefits include: a. home loan programs. O b. education banefits. O c. medical benefits. d: All of the choices appl 7 Which of the following statements is true regarding underwriting guidelines? O a. They are the same for all lenders Ob. Thay ar from one loan program to the next O c. Thay are Flaxible and vary with each loan program are not fexible in any loan 8 Which of the following is not true about real estate taxes? Oa. Non-payment of property taxes puts no one at risk. O b. property taxes must be kept current during the term ofthe loan. O c. The property tax bill should have the correct propety descriptionmant O d. If occur in loan nts, insurance taxes, the loan administrator should recommend foreclosure 9 There are three major financial markets in the world. Which of the following is not one of those markets? a. New York O b. Paris O c. Londan O d 00 A financial services corporation created by the United States Congress is called a(n)r O a. government sponsored enterprise. b. gomantdiacount firm. O c open market operation. O d. Federel Open Market Committee