Multiple Choice

1. Correctly complete the following sentence from the answer choices provided below

A Blanket mortgage is:

A. Is only permitted to be used for commercial properties

b.is a single mortgage that is registered on the title of two or more properties as security for the loan.

c.Is any mortgage, other than a first mortgage registered against the title of a commercial property.

d.Is another name for a wraparound mortgage

2.When an ageny relationship is created, the principle owes the agent the DUTY OF REMUNERATION. The duty of remuneration means?

a.That they prinicple has no obligation to p ay the agent in return for the services provided

b.That a real estate brokerage mjust ensure there is a deposit for every transaction

c.That if the agent is sued, the principle must pay any claim awarded by a court

d.That the agent must not recieve payment from anyone other than the principle