Florida Mortgage Broker Exam

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Author:
LandJ
ID:
25809
Filename:
Florida Mortgage Broker Exam
Updated:
2010-07-06 01:07:17
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Florida Mortgage Broker Exam
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Description:
Florida Mortgage Broker Exam Chapter 1 Questions
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  1. Mortgage Brokers:

    a. are the same thing as mortgage bankers.
    b. connect borrowers with lenders but do not loan money.
    c. connect borrowers with lenders and lend mortgage money.
    d. loan their money to home buyers.
    b. connect borrowers with lenders but do not loan money.
  2. A Correspondent Mortgage Lender:

    a. has the same rights and requirements as a mortgage lender.
    b. cannot service loans.
    c. can service loans for up to four months.
    d. works under the supervision of a lender.
    c. can service loans for up to four months.
  3. Attorneys are required to be licensed as mortgage brokers:

    a. when dealing in mortgages outside the normal practice of their buisness.
    b. when they acquire properties for their clients.
    c. if they acting in a fiduciary capacity.
    d. attorneys need no license to deal in mortgages.
    a. when dealing in mortgages outside the normal practice of their buisness.
  4. A "Person" as defined in Chapter 494 FS is:

    a. an individual.
    b. a Partnership.
    c. a Corporation.
    d. all the above.
    d. all the above.

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