Free CTFA Exam Braindumps (page: 57)

Page 57 of 113

A rental contract:

  1. A legal instrument that protects both the lesser and the lessee from an adverse action by the other party
  2. It specifies the amount of monthly payment
  3. It specifies the length of the lease agreement
  4. All of these

Answer(s): D



The maximum percentage of the value of a property that the lender is willing to loan is called:

  1. Loan to value ratio
  2. Private mortgage
  3. Price earnings ratio
  4. Mortgage points

Answer(s): A



An insurance policy that protects the mortgage lender from loss in the event the borrower defaults on the loan; typically required by lenders when the down payment is less than 20%.

  1. Private mortgage insurance
  2. Public mortgage insurance
  3. Down payment
  4. Loan to value ratio

Answer(s): A



acronym is that refers to a mortgage payment including stipulated portions of principal, interest, property, taxes and homeowner's insurance.

  1. PITI
  2. Homeowner insurance
  3. ABI
  4. DITI

Answer(s): A



Page 57 of 113



Post your Comments and Discuss ABA CTFA exam with other Community members:

JUAN commented on June 28, 2023
aba questions to practice
UNITED STATES
upvote

JUAN commented on June 28, 2023
aba questions to practice
UNITED STATES
upvote

Alo commented on November 12, 2018
we shall see, just downloaded. Will report back
Anonymous
upvote