California Real Estate Practice Exam

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Study for the California Real Estate Exam. Engage with multiple choice questions and detailed explanations to sharpen your knowledge. Get ready to ace your real estate career!

Practice this question and more.

Which of the following terms does not fit with the group referring to a type of mortgage payment plan?

nonconforming
amortized
fixed-rate
adjustable-rate

The correct answer is: nonconforming

The other options all pertain to different types of mortgage payment plans. Nonconforming is a type of loan that does not meet the guidelines set by Fannie Mae and Freddie Mac, and is generally not included in a conventional mortgage. This term does not fit with the group because it is not referring to a type of payment plan, but rather a type of loan. Therefore, it is the incorrect answer compared to the other options which are all relevant to mortgage payment plans.