Question 1

Who is the trustor in a deed of trust?

Accepted Answer

A)  Borrower 
B)  Lender 
C)  Grantor 
D)  Vendor 
A)  Borrower 
B)  Lender 
C)  Grantor 
D)  Vendor

Question 2

Proceeds from a foreclosure sale go first to the lender, then to the borrower and then to the expenses of the sale.

Accepted Answer

A) True 
 B)False

Question 3

Upon payment of the debt secured by a deed of trust, the

Accepted Answer

A)  trustor issues a deed for reconveyance. 
B)  grant deed is issued to the trustee. 
C)  trustee issues a release deed for reconveyance. 
D)  trustor now has equitable title. 
A)  trustor issues a deed for reconveyance. 
B)  grant deed is issued to the trustee. 
C)  trustee issues a release deed for reconveyance. 
D)  trustor now has equitable title.

Question 4

After a trustee's sale has been held and the property goes to the highest bidder, in most states the original trustor has

Accepted Answer

A)  21 days to pay off the loan balance. 
B)  90 days equity of redemption. 
C)  one year to redeem the property. 
D)  no recourse. 
A)  21 days to pay off the loan balance. 
B)  90 days equity of redemption. 
C)  one year to redeem the property. 
D)  no recourse.

Question 5

In a real estate transaction financed with a deed of trust, the grantee on the deed of trust is the borrower.

Accepted Answer

A) True 
 B)False

Question 6

Choose the one most appropriate answer for each.
-the beneficiary's request to the trustee to deed the secured property to the trustor

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question 7

Choose the one most appropriate answer for each.
-one who creates a trust;the borrower under a deed of trust

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question 8

A trustor's relationship to a beneficiary is most nearly the same as a

Accepted Answer

A)  grantor to a grantee. 
B)  beneficiary to a trustee. 
C)  buyer to a seller. 
D)  mortgagor to a mortgagee. 
A)  grantor to a grantee. 
B)  beneficiary to a trustee. 
C)  buyer to a seller. 
D)  mortgagor to a mortgagee.

Question 9

Upon payment of the debt secured by a deed of trust, the

Accepted Answer

A)  trustor issues a deed for reconveyance. 
B)  grant deed is issued to the trustee. 
C)  trustee issues a release deed for reconveyance. 
D)  trustor now has equitable title. 
A)  trustor issues a deed for reconveyance. 
B)  grant deed is issued to the trustee. 
C)  trustee issues a release deed for reconveyance. 
D)  trustor now has equitable title.

Question 10

The right to collect rents in the event of default is called a(n)____________________ of ____________________ clause.

Accepted Answer

The answer of The right to collect rents in the...

Question 11

One of the major differences between a regular mortgage and a deed of trust is

Accepted Answer

A)  a mortgage hypothecates personal property. 
B)  a deed of trust must be recorded. 
C)  the redemption period allowed. 
D)  there is no difference. 
A)  a mortgage hypothecates personal property. 
B)  a deed of trust must be recorded. 
C)  the redemption period allowed. 
D)  there is no difference.

Question 12

Choose the one most appropriate answer for each.
-the lender's right to take possession and collect rents in the event of loan default

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question 13

A neutral third party would be found in

Accepted Answer

A)  a regular mortgage. 
B)  an equitable mortgage. 
C)  a deed of trust. 
D)  a land sale contract. 
A)  a regular mortgage. 
B)  an equitable mortgage. 
C)  a deed of trust. 
D)  a land sale contract.

Question 14

After the expenses of the sale are paid in a foreclosure sale, the ____________________ is paid.

Accepted Answer

The answer of After the expenses of the sale are...

Question 15

Choose the one most appropriate answer for each.
-the lender

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question 16

The basic purpose of the deed of trust, also referred to as a trust deed, is the same as a ____________________.

Accepted Answer

The answer of The basic purpose of the deed of...

Question 17

Regarding the non-judicial foreclosure of a deed of trust, the property is sold at auction.

Accepted Answer

A) True 
 B)False

Question 18

Choose the one most appropriate answer for each.
-violation of any of the terms of the deed of trust

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question 19

Choose the one most appropriate answer for each.
-conveys to the purchaser at foreclosure the right, title, and interest held by the trustee

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Question 20

Choose the one most appropriate answer for each.
-one who holds property in trust for another

Accepted Answer

A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor 
A) accepted form 
B) assignment of rents 
C) automatic form 
D) bare title 
E) beneficiary
F)deed of trust
G)default
H)foreclosure
I)junior claims
J)naked title
K)no statutory redemption
L)power of sale
M)public trustee
N)reconveyance deed
O)release deed
P)request for reconveyance
Q)trust
R)trustee
S)trustee's deed
T)trustor

Exam 9: Deed of Trust

Who is the trustor in a deed of trust?

Proceeds from a foreclosure sale go first to the lender, then to the borrower and then to the expenses of the sale.

Upon payment of the debt secured by a deed of trust, the

After a trustee's sale has been held and the property goes to the highest bidder, in most states the original trustor has

In a real estate transaction financed with a deed of trust, the grantee on the deed of trust is the borrower.

Choose the one most appropriate answer for each. -the beneficiary's request to the trustee to deed the secured property to the trustor

Choose the one most appropriate answer for each. -one who creates a trust;the borrower under a deed of trust

A trustor's relationship to a beneficiary is most nearly the same as a

Upon payment of the debt secured by a deed of trust, the

The right to collect rents in the event of default is called a(n)____________________ of ____________________ clause.

One of the major differences between a regular mortgage and a deed of trust is

Choose the one most appropriate answer for each. -the lender's right to take possession and collect rents in the event of loan default

A neutral third party would be found in

After the expenses of the sale are paid in a foreclosure sale, the ____________________ is paid.

Choose the one most appropriate answer for each. -the lender

The basic purpose of the deed of trust, also referred to as a trust deed, is the same as a ____________________.

Regarding the non-judicial foreclosure of a deed of trust, the property is sold at auction.

Choose the one most appropriate answer for each. -violation of any of the terms of the deed of trust

Choose the one most appropriate answer for each. -conveys to the purchaser at foreclosure the right, title, and interest held by the trustee

Choose the one most appropriate answer for each. -one who holds property in trust for another

Nature and Description of Real Estate

Rights and Interests in Land

Forms of Ownership

Transferring Title

Recordation Abstracts and Title Insurance

Contract Law

Real Estate Sales Contracts

Mortgage and Note

Lending Practices

The Loan and the Consumer

Sources of Financing

Types of Financing

Taxes and Assessments

Title Closing and Escrow

Real Estate Leases

Real Estate Appraisal

Licensing Laws and Professional Affiliation

The Principal-Broker Relationship: Employment

The Principal-Broker Relationship: Agency

Fair Housing, Ada, Equal Credit, and Community Reinvestment

Condominiums, Cooperatives, Puds, and Timeshares

Property Insurance

Land-Use Control

Real Estate and the Economy

Investing in Real Estate

Filters

The right to collect rents in the event of default is called a(n) of clause.