27. D.    Total closing costs due at closing. You will be given 2-4 hours to complete the exam. 25. Every state has different requirements for becoming a real estate agent, broker, or appraiser, but every state requires you to take and pass a test to become licensed. To provide disclosures in a timely manner, the lender must put a revised Loan Estimate in the mail in which of the following time frames: A. The practice exam features questions and answers that you will find on the actual real estate assessment. The Initial Truth in Lending Statement and Mortgage Servicing Disclosure Statement. Pass the real estate exam with confidence! C.    Provide a copy of the borrower’s Closing Disclosure to the seller only if it also contains the seller’s charges and costs. 28. Identity of the mortgage loan sold. Which of the following is disclosed on the integrated disclosure forms that was not disclosed on previous forms: If a borrower’s payment is late, under which time-frame will the lender charge a late fee? New Jersey Real Estate Practice Exam Take this free New Jersey Real Estate Salesperson Pracice Exam to prepare for the actual exam administered by the New Jersey Real Estate Commission. B. D.    Seven (7) business days before consummation. A developer retains agent Suzy to sell townhouses. C.    Four (4) business days before consummation. In claiming a bona fide personal financial emergency, the consumer must do which of the following: A. The acronym STUD is used as a memory aid to keep the 4 elements of value in mind.. Practice Tests, Study Guides, and Flashcards for the Real Estate License Exam. 39. D.    The appraiser can only give a copy of the appraisal to his/her client. Learn about Real Estate exam content and format, including study tips for each section. If you want to take your state's real estate licensing exam, you will need to complete the required prelicensing education program provided by your state. Three (3) business days before consummation. Test-Guide.com was founded by a group of educators with a passion for preparing students to succeed on their exams. Work with Investors: Increase Your Income. Prepare for the Real Estate by taking a Real Estate practice test. C.    Four business days prior to consummation. All of the following disclosures may be provided to a consumer after loan consummation, except: B. 42. Which of the following time frames must be observed by the lender to correct a Closing Disclosure that becomes inaccurate and results in a change to the amount paid by the seller: 47. 2) The Closing Disclosure must be received by the borrower in which of the following time frames: B. B. In a timeshare transaction, when must the lender deliver the Closing Disclosure to the consumer? 6) Under TRID, the Closing Disclosure combines which of the following two forms: A. Three (3) business days before consummation. A developer retains agent Suzy to sell townhouses. Joey, a licensed agent, submits an offer to buy unit 1603 for $120,000, and a sales contract is executed. D.    The policy is disclosed as a courtesy to the borrower in the case of hard times. D.    The Escrow Closing Notice must be provided by the lender at the time of cancelling the escrow account. The borrower’s future financial condition. 8) Closing costs disclosures on the integrated Closing Disclosure include which of the following: 9) The integrated Closing Disclosure breaks down fees paid by the borrower and seller according to which of the following: D.    Paid by personal check or certified funds. Let's talk about 4 acronyms that you m ust know to pass your real estate exam. Contact information for the covered person. Through a typographical error, however, the contract identified unit 1602 which was listed for $15, Local, State, and other Government Restrictions. In a loan transaction not subject to rescission provisions, which of the following must receive a Closing Disclosure: A. D.    The GFE and the Initial Escrow Statement. As a seller's agent, you sell a house for $135,000. D.    Only consumers who are at the age of majority. Different lenders have different policies regarding the receipt of partial payments. Scarcity has to do with the supply of real estate available. Track your progress and be ready to pass your exam. The interest on the loan amount above this property’s fair market value is still deductible on federal income taxes. Give it a shot! B. C.    The handwritten statement must be signed by all primary obligors on the loan. Don't rely on the outdated material on other real estate practice exam sites. B. If the settlement agent takes responsibility for delivery of the Closing Disclosure, he may do which of the following: A. I highly encourage you guys to grab a pencil and paper and follow along. This exam will include a state specific portion and a national portion. C.    It corrects a non-numerical clerical error. 40) Which of the following statements are true regarding federally mandated waiting periods prior to closing a loan: A. Any consumer with primary liability for the mortgage loan. 49. Real estate math is an essential part of the real estate exam and an important concept to understand to have a successful real estate career. Lender in a trustee ’ s 2018 regulations receive the Closing of the following about assuming loan! To a consumer after loan consummation, except: a about real estate License test day s.. Following about assuming the loan late fee the lender will allow the assumption of loan... 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