Question 8 (1 point)

What is usually executed at the same time as a mortgage and creates the obligation to repay the loan in accordance with its terms?

Question 8 options:

a)	Recording acts

b)	Ownership interests

c)	Method of payment

d)	Promissory note

Question 9 (1 point)

The type of loan that does not include the personal liability of the borrower is called a/an:

Question 9 options:

a)	recourse loan

b)	nonrecourse loan

c)	annuitized loan

d)	balloon loan

Question 10 (1 point)

A legal remedy that may be ordered by a court requiring completion of the transaction, for a buyer or a seller in a failed property sales transaction, is called:

Question 10 options:

a)	suit for damages

b)	specific performance

c)	liquidated damages

d)	rescission

Question 11 (1 point)

In case of default on a mortgage, the following are possible avenues for the borrower:

Question 11 options:

a)	foreclosure

b)	deed in lieu of foreclosure

c)	bankruptcy

d)	all of the above

Question 12 (1 point)

An investment may have more than one calculated IRR.

Question 12 options:

	a) True
	b) False

Question 13 (1 point)

The name for a series of equal, annual cash flows that are received at the end of each period is?

Question 13 options:

a)	Ordinary annuity

b)	Annuity due

c)	Regular annuity

d)	Ordinary annuity due

Question 14 (1 point)

Saved

With a negative amortizing loan, the borrower may end up with a loan balance at the end of the loan that is ___________________ than the original loan balance.

Question 14 options:

a)

Greater

b)

Lease

c)

Unchanged

d)	None of the above