91. A person to whom money is owed is known as a

A. debtor
B. creditor
C. mortgagee
D. lender


Answer:
B. A creditor is a person to whom money is owed.

92. Discount points refer to


A. a system of figuring out how much the property will be discounted
B. points paid in addition to the one percent loan origination fee
C. usually only FHA and VA loans
D. both B and C


Answer:
D. This term is usually used in reference to only government loans (FHA and VA). Discount points are any points paid in addition to the one percent loan origination fee.


93. Which of the following can the Equal Credit Opportunity Act (ECOA) not discriminate against?


A. Race, color or religion
B. National origin
C. Age, sex, or marital status
D. All of the above


Answer:
D. ECOA is a federal law requiring lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.


94. An exclusive listing is one which gives a licensed real estate agent the exclusive right to sell a property

A. until it sells
B. until the owner takes it off the market
C. for a specified period of time
D. none of the above


Answer:
C. An exclusive listing gives a licensed real estate agent the exclusive right to sell a property for a specified period of time.


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