Mortgage Mastery Quiz
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Questions and Answers

What is the essence of a mortgage?

  • Delivery of possession
  • Payment of debt
  • Discharge of obligation
  • Conveyance of title (correct)

    • What is the main difference between a pledge and a mortgage?

  • A pledge gives the pledgee special property in the property, while a mortgage does not
  • A pledge can be foreclosed like a mortgage, while a mortgagee cannot
  • A pledge is a mere appropriation of specific property, while a mortgage is a legal conveyance of title
  • A pledge is accompanied by delivery of possession, while a mortgage is not (correct)

    • What is a charge?

  • A mere appropriation of specific property for the discharge of an obligation (correct)
  • A pledge accompanied by delivery of possession
  • A legal conveyance of title as security for the payment of debt
  • A lien arising by operation of law

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