Virginia Pre Licensing Final Exam Principles and Practices of Real Estate Version 1 Questions

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Question 1 of 5

When Jimmy bought his first home, he signed a promissory note to his lender. What was Jimmy agreeing to when he signed that?

A. Jimmy was promising not to dispute any foreclosure actions taken by the lender in the event of default.

B. Jimmy was temporarily conveying title to the lender.

C. Jimmy was acknowledging the debt he was taking on and agreeing to the terms of the note.

D. Jimmy was securing the loan with the home.

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