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Last Updated: Oct 02, 2026
No. of Questions: 232 Questions & Answers with Testing Engine
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| Section | Weight | Objectives |
|---|---|---|
| Uniform State Content | 11% | - State Regulatory Content
|
| Mortgage Loan Origination Activities | 27% | - Loan Origination Process
|
| General Mortgage Knowledge | 20% | - Mortgage Fundamentals
|
| Federal Mortgage-Related Laws | 24% | - Federal Mortgage Laws
|
| Ethics | 18% | - Ethical Practices
|
A veteran borrower obtains a VA loan to purchase a property for $200,000 and opts to finance the entire purchase price plus the VA funding fee of 2.15%. The initial payment for principal and interest will be calculated based on a loan amount of:
Correct Answer: A 🗳️
Explanation: Only visible for Prep4King members. You can sign-up / login (it's free).
The ability to originate loans under temporary authority applies to which of the following?
Correct Answer: C 🗳️
Explanation: Only visible for Prep4King members. You can sign-up / login (it's free).
Which of the following property value approaches does an appraiser use on a rental property?
Correct Answer: B 🗳️
Explanation: Only visible for Prep4King members. You can sign-up / login (it's free).
Which of the following types of income are considered as qualifying when applying for a mortgage loan?
Correct Answer: D 🗳️
Explanation: Only visible for Prep4King members. You can sign-up / login (it's free).
Which of the following responses describes the main purpose of the secondary market?
Correct Answer: C 🗳️
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