Ace the California Real Estate Exam 2025 – Your Key to Property Success!

Question: 1 / 585

If a broker procures a loan for a principal for $89,000, the broker would provide which of the following documents?

A Broker's Loan Statement

A broker procuring a loan for a principal means that the broker is helping the principal secure a loan from a lender. As such, the broker would provide a Broker's Loan Statement, which serves as documentation of the broker's involvement in the loan process.

Option B, a Real Property Security Statement, is incorrect because it is a statement related to the collateral or property being used to secure the loan, not the broker's role in facilitating the loan.

Option C, both a and b, is incorrect because a Real Property Security Statement is not necessary for the broker's involvement in the loan process.

Option D, neither a nor b, is incorrect because the broker would provide a Broker's Loan Statement in this scenario. Therefore, it is not accurate to say that neither a Real Property Security Statement nor a Broker's Loan Statement would be provided.

Get further explanation with Examzify DeepDiveBeta

A Real Property Security Statement

Both a and b

Neither a nor b

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy