Question 1
Which federal law requires lenders to provide borrowers with a Loan Estimate within three business days of receiving a loan application?
Correct Answer:
TILA-RESPA Integrated Disclosure (TRID)
Question 2
At closing, an origination charge paid to the lender for making a loan is classified as a:
Correct Answer:
Section A fee
Question 3
Which closing cost is typically based on the sales price of the property and paid to the state or local government?
Correct Answer:
Transfer tax
Question 4
A closing cost that cannot increase from the Loan Estimate to the Closing Disclosure is said to fall under which tolerance category?
Correct Answer:
No tolerance / zero tolerance
Question 5
Which party typically pays the owner's title insurance premium in states where there is no established custom?
Correct Answer:
It is negotiable between buyer and seller
Question 1
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About this Exam

Prepare with the Certified Home Closing Professional (CHCP) practice quiz. This question bank includes 75 questions covering chcp, closing, property, professional, and professionals. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Certified Home Closing Professional (CHCP)

This practice set contains 75 questions from the matching question bank and focuses on chcp, closing, property, professional, and professionals. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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