Property and Loan Regulations Quiz
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To find out if a building or an autonomous unit has been registered in the Property Cadastre or is being applied for registration by the owner, we require this information from:

  • The Municipal Council
  • The Citius Portal
  • The Finance Department (correct)
  • The Land Registry

    • Which of the following statements about interest rates on loans is true?

  • For loans taken out at a fixed interest rate, banks sometimes use Swap rates as a reference, adding a spread to them. (correct)
  • For loans taken out at a variable interest rate, the rate must be reviewed every 6 months.
  • For loans taken out at a variable interest rate, the rate is always indexed to the Euribor at 6 or 12 months.
  • For loans taken out at a fixed interest rate, the rate must remain the same for the entire term of the loan.

    • Do loan agreements that, while not being a mortgage loan, are secured by a mortgage on real estate, fall under the rules for mortgage loans?

  • No, the rules for mortgage loans do not apply to this type of contract.
  • Yes, the rules for mortgage loans apply to this type of contract. (correct)
  • No, in addition to the general rules for mortgage loans, these rules can only apply to the financial lease of real estate.
  • No, in addition to the general rules for mortgage loans, these rules can only apply to financing for construction works that are not secured by a mortgage.

    • Municipal Councils are responsible for the issuance of permits for construction, construction works, and also for housing or utilization purposes of residential units or urban buildings. This process must be requested:

    <p>Individually for a unit, but may be requested for all the units that make up the same building.</p> Signup and view all the answers

    When acquiring real estate and registering it in the land registry, you should provide the client with guidance to help them obtain important information about the property. How can they find out if the property is free from pre-emptive rights, such as heirs or tenants?

    <p>The Finance Department</p> Signup and view all the answers

    Which option correctly completes the following sentence? In the execution process:

    <p>Property of the defendant is seized by order of the Court.</p> Signup and view all the answers

    Regarding amortization systems for loans under the general mortgage loan scheme, which option is true?

    <p>In the variable payment system, the amount of the payment increases progressively until it becomes constant.</p> Signup and view all the answers

    Consider a situation where a mortgage loan application has been submitted to a financial institution for the purchase of a house that requires renovation, with a one-year grace period. What is the appropriate procedure?

    <p>In assessing solvency, the institution should consider the customer's ability to meet the obligations arising from the loan agreement after the grace period.</p> Signup and view all the answers

    Which option indicates a type of loan that is not included in consumer lending?

    <p>Mortgage loan taken out by individuals, outside the scope of commercial or business activity, secured by a mortgage.</p> Signup and view all the answers

    Which of the following statements describes a characteristic of real estate leasing?

    <p>The frequency of payments is agreed upon by the parties, with monthly payments being the most common.</p> Signup and view all the answers

    When a line of credit with a mortgage guarantee is involved, the lender:

    <p>Cannot charge any fees for early repayment of the loan granted.</p> Signup and view all the answers

    If a customer does not agree with the value of the appraisal for a property that will be mortgaged as security for a mortgage loan, can they request a second appraisal?

    <p>Yes, and in this case the customer pays for the appraisal.</p> Signup and view all the answers

    Which option correctly completes the following sentence? In mortgage lending, the lender cannot charge any commission for the analysis of a loan renegotiation:

    <p>When it concerns a change in the loan length.</p> Signup and view all the answers

    How long does a financial institution have to analyze a customer's proposal for renegotiating a loan whose contract was integrated under PERSI?

    <p>15 consecutive days.</p> Signup and view all the answers

    Which elements are crucial in verifying the income and expenses of the household and a factor to consider when evaluating the solvency of the applicants and calculating their debt-to-income ratio?

    <p>Their last income tax return, accompanied by a statement of income that applies to them.</p> Signup and view all the answers

    If a potential homebuyer wants to verify that the homeowner is who they claim to be, they should consult:

    <p>The Land Registry.</p> Signup and view all the answers

    Under current legislation, financial institutions can only charge, on the grounds of non-compliance:

    <p>A single fee for the recovery of debt.</p> Signup and view all the answers

    In cases where a consumer takes out a loan in a foreign currency and does not choose any financial instrument to hedge currency risk, the lender must notify the borrower of a loan in a foreign currency periodically:

    <p>When the variation in the total amount outstanding or in the amount of payments exceeds 20% of the variation that would result from applying the exchange rate between the currency of the loan agreement and the national currency at the time of entering into the loan agreement.</p> Signup and view all the answers

    Regarding amortization systems for loans under the general mortgage loan scheme, which option is true?

    <p>In the variable payment system, the amount of the payment increases progressively until it becomes constant.</p> Signup and view all the answers

    To pay for the insurance associated with the loan, the financial institution debited the borrower's bank account, leaving the balance negative. However, there was no overdraft facility associated with the account. To recover this amount, the financial institution may pursue:

    <p>Declaratory action for a sentence.</p> Signup and view all the answers

    Which option correctly completes the following sentence? The annual effective global interest rate (TAEG) for consumer loan agreements is subject to maximum limits, which:

    <p>Are calculated and published quarterly by the Bank of Portugal.</p> Signup and view all the answers

    Identify a type of contract that is excluded from the scope of mortgage loans.

    <p>Loan agreement whose purpose is to finance the execution of works that are not secured by a mortgage or other lien on the property.</p> Signup and view all the answers

    What type of repayment does the following statement refer to? During the initial period, the customer does not amortize the principal and only pays interest.

    <p>Grace period for principal.</p> Signup and view all the answers

    If it is concluded that a bank customer is indeed at risk of default, the financial institution should:

    <p>Assess the customer's financial capacity, possibly requesting information and documents that are strictly necessary and appropriate for this purpose.</p> Signup and view all the answers

    Regarding an installment loan for the purchase of land to build a permanent home, which statement is true?

    <p>The maximum loan amount is determined by the institution.</p> Signup and view all the answers

    Study Notes

    IFB - Incorrect Answers

    • Property Registration: To determine if a property or autonomous fraction is registered on the Property Register or if its registration has been requested by the owner, information is needed from the Property Registry.
    • Interest Rates (Loans): Fixed interest rate loans sometimes use swap rates as a reference point with a spread added by the institution.
    • Mortgage Loans: Loans secured by a mortgage on real estate are subject to housing loan rules, even if not a standard housing loan.
    • Municipal Licensing: Municipalities handle licensing for construction, renovation, and residential use of properties. Licensing can be done for individual units or the entire property collectively.
    • Loan Execution: Legal enforcement (execution) of a loan involves the seizing of the debtor's assets by court order.
    • Loan Amortization: Mixed payment systems in housing loans involve increasing payments initially, then stabilizing at a fixed amount.
    • Loan Application (Construction Needs): When applying for a loan with a one-year grace period for construction, the financial institution assesses the borrower's capacity to repay the loan after the grace period, not just during it.
    • Real Estate Acquisition and Registration: Property buyers need to ascertain freedom from rights of preference such as inheritance or leases during the acquisition phase in relation to property records.
    • Loan Processes: In the execution process, the debtors' assets are seized by the court.
    • Loan Amortization Systems: Mixed payment systems are an option where the loan payment increases gradually before becoming fixed.
    • General Housing Lending: If a loan isn't specifically a housing loan but is secured by property, it falls under housing loan rules.
    • Taxation and Loans: The payment of property taxes related to the loan isn't affected in the event that there is a delay of payment or other similar condition to the payment of the loan.
    • Interest on Loans: Interest rates should not be changed without prior consent.
    • Renovation Expenses: When renovating an existing property in relation to a mortgage application, the borrower should meet requirements related to the creditworthiness of the borrower.
    • Consumer Credit: Certain types of loans, like those for homes not for residential purposes, are excluded from consumer credit classifications. Information on the details of the loans, especially in relation to the repayment and security arrangements, should be carefully reviewed.
    • Lease Financing (Real Estate): Leases relating to real estate properties are characterized by variable rent with flexible terms negotiated by the parties.
    • Real Estate Loans: With real estate loans, the duration of the agreement is not limited and rent terms can be agreed upon by both parties.
    • Loan Repayment: When a loan is repaid before its scheduled maturity, there are no fees associated with an early repayment.
    • Loan Repayment: There are no fixed fees associated with paying off or repaying a loan early.
    • Loan Default: If a contract for a consumer loan is in default, the appropriate steps should be taken in accordance with the procedures in place (as per the financial institution).
    • Legal Proceedings: Legal procedures regarding debts related to a home loan should always be followed closely.
    • Tax Information (Loans): The applicant's most recent tax records (IRS information), in conjunction with other income/expense documentation, are crucial to determine the borrower's solvency (creditworthiness).
    • Interest on Loans: Changes in interest rates, especially if the loan is tied to a foreign currency, if not clearly outlined with a provision for monitoring, should be observed closely.
    • Loan Terms: When a loan has a grace period, the financial institution evaluates the borrower's ability to repay after the grace period, not just during it.
    • Housing Loan Processes: Processes for securing a housing loan should be understood, including how to obtain clarification and validate information about the property and the required documents.

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    IFB - Exam Questions (PDF)

    Description

    Test your knowledge on property registration, loan interest rates, and mortgage norms. This quiz covers various aspects related to municipal licensing, loan execution, and amortization processes. Challenge yourself and see how much you understand about these critical real estate topics!

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