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EXAM
BROKER EXAM
Question | Answer |
---|---|
EQUITABLE RIGHT OF REDEMPTION | a right under state law of a defaulted borrower to redeem his or her property up to the date of the mortgage foreclosure sale by paying in full the outstanding mortgage debt. |
STATUTORY RIGHT OF REDEMPTION | a right under state law of a defaulted borrower to redeem his or her property up to the date of the mortgage foreclosure sale by paying in full the outstanding mortgage debt. |
O | obediency |
L | loyalty |
D | disclosure |
C | confidentiality |
A | accountability |
R | reasonable care |
How many hours does a managing broker need to transition over? | 30 hours transition course and pass the exam OR pass the exam and take 18 hours of continuing education required: 9 core + 9 elective credits. |