1.
The term “Buy & Hold” refers to:
2.
Buy & Hold is what type of strategy?
3.
Wholesaling in real estate investing is:
4.
Wholesaling is what type of strategy?
6.
Fix & Flip is what type of strategy?
7.
It is illegal to invest in commercial real estate without a license in New York.
8.
Any offer to purchase property as an investment must be written on the approved New York Real Estate Purchase Contract.
9.
All residential rental property in New York must be registered in the county where the property resides.
1 out of 5
11.
Which of the following are common causes of distress?
12.
Which of the following is considered an advantage of buying from the lender AFTER the Trustee’s sale?
13.
What is a “short sale”?
14.
What is the most significant difference between a “short sale” and a traditional market sale?
15.
Which of the following is the most common requirement to a successful short sale?
16.
The foreclosure process in New York is primarily a:
17.
Title Insurance is required to close escrow on an investment property?
18.
Which of the following is NOT true?
19.
Which of the following are examples of using “other people’s money” to buy real estate?
20.
Passive investing usually means that you don’t make the major decisions, such as selection of the renters or tenants.
2 out of 5
21.
Which of the following services should you ALWAYS use?
22.
Lease Option is a common technique real estate investors use to control property. Which of the following is a viable time to Lease Option?
23.
In taking a property “subject to” you are:
24.
It is illegal in New York to pay a “birddog” to find investment property?
25.
Hard Money should be used to finance a real estate transaction when:
26.
Private Money differs from Hard Money in:
27.
To depreciate Real Estate:
28.
Which is the primary lien?
29.
When you purchase a tax deed, you are not purchasing the property. You are simply paying the property owner’s taxes and getting the interest and the penalties that the government would normally collect.
3 out of 5
SECTION 2: CREDIT SCORE BASICS
30.
Who collects the information on which credit scores are most frequently based?
31.
Which of the following does a credit score mainly indicate?
32.
What is a good generic credit score?
33.
When you cannot resolve a complaint to a credit bureau or lender about your credit report or credit score, which of these federal agencies is best suited to help you resolve the problem?
34.
When are lenders that use credit scores required to inform borrowers of the credit score used in the lending decision?
35.
When will multiple inquiries about getting a mortgage or auto loan lower one’s FICO or VantageScore credit score?
36.
Which of the following service providers may use credit scores to decide whether a person can buy a service and/or what price he or she will pay?
37.
Which of these groupings contains three factors that are all used to calculate a credit score?
a. A person’s age, missed loan payments, and marital status
b. Missed loan payments, high balances on credit cards, and ethnic origin
c. Marital status, high balances on credit cards, and personal bankruptcy
d. A person’s age, high balances on credit cards, ethnic origin
e. Missed loan payments, high balances on credit cards, and personal bankruptcy
None
38.
Which of the following actions helps a consumer raise a low score or maintain a high one?
39.
How important is it to check the accuracy of your credit reports at the three main credit bureaus?
4 out of 5
SECTION 3: BASIC STOCK INVESTING
40.
As a shareholder you are entitled to all of the following except:
41.
What happens to shareholders if a company goes bankrupt and liquidates?
42.
What is the most important factor that affects the value of a company?
43.
Dividend Reinvestment Plans, or DRIPS, allow shareholders to:
44.
If someone is considered to be bearish, where do they think the stock market is heading?
45.
Which of the following does not appear on a stock quote in a financial paper?
46.
Historically, what asset has always performed the best over the long term?
5 out of 5
