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MCE Test for: Introduction To Notes & Mortgage Buying With Your

MCE Credit Hours = 5

Requirements for TREC Credit:

The following fields of information are required to verify and report credit hours earned to TREC:

1) Invoice Number of corresponding MCE PDF class - you must have
     purchased the corresponding MCE PDF class
2) All your contact information in the designated boxes
3) Your TREC Real Estate Agent number

Taking the Test:

  • CHOOSE: check boxes with "false" statements only - boxes checked with true statements are considered incorrect answers
  • START OVER: start over anytime by clicking the Reset button
  • SUBMIT: click the submit button when finished - your answers are emailed to AES
  • ANSWERS VERIFIED: AES checks your answers and emails you of passed/failed
  • RETAKE: you may retake the test as many times as necessary to pass
  • NOTIFYING TREC: when you have passed AES notifies TREC and number of credit hours earned
Test for MCE Class Titled: Introduction To Notes &
Mortgage Buying With Your IRA

First Name::
Last Name::
Phone Number::
Invoice # for Corresponding MCE Class::
TREC Agent #::
Phone #::
Street Address::
Email Address::
  When making cold calls, you should call and set an appointment with the decision maker the day after you’ve made the personal call (you’re still fresh in their mind).
  When making cold calls, you should discuss business ONLY with the decision maker.
  When working with Realtors, you need to verify that your institutional investors are on board with your real estate agent program.
  When working with Realtors, your presentation should be 30-45 minutes max.
  Successful land developers are laid back and because of the nature of the business do minimal planning.
  It is not important to qualify a land developer.
  Yield on an annual basis is the return of your money and the return on your money.
  With compound interest, both the principle and all accrued interest earn interest each time period.
  A balloon payment is a future lump sum payment that typically pays the debt in full.
  A wraparound mortgage is a method of financing in which the new mortgage is placed in a secondary or subordinate position.
  Negotiation skills are not important when buying notes and mortgages.
  One way to demonstrate to the note seller that you are listening is by acknowledging their need.
  Institutional investors can provide you assistance with pricing, underwriting cash flow notes process, and the documentation process.
  You can legally sell notes to private investors.
  The investment To Value (ITV) ratio determines the maximum amount of capital allowed to invest in a given note or mortgage.
  Credit is not a factor that influences pricing.
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