This is the final exam for the Inspection Commonalities Certification.
This exam consists of 110 multiple choice questions which must be completed in one sitting. A score of eighty percent (80%) or higher is required to pass this exam.
Passing: You must score at least 80% to pass.
Number of Questions: There are 110 questions in this exam.
Time Limit: You have 150 minutes to complete this exam. If the exam is not complete in this timeframe it will automatically be submitted. The time remaining is available in the top of your question list.
Inspection Commonalities
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Question 1 of 105
1. Question
Field inspection services are usually triggered by the failure of the mortgagor to meet the contractual demands of their mortgage. How soon are inspections usually generated after a missed payment to the investor?
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Question 2 of 105
2. Question
What additional paperwork must be submitted when completing a FNMA inspection?
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Question 3 of 105
3. Question
When completing a Fannie Mae Property Inspection, which of the following is not required?
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Question 4 of 105
4. Question
Which of these is a question on the FNMA inspection?
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Question 5 of 105
5. Question
Common required information when completing an REO inspection does not include which of the following:
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Question 6 of 105
6. Question
When an REO inspection is being performed, the inspector is checking to determine:
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Question 7 of 105
7. Question
When inspecting the lawn during an REO inspection what should the inspector look for?
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Question 8 of 105
8. Question
What photos are usually required for a Merchant Site inspection?
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Question 9 of 105
9. Question
What type of clothing is acceptable attire for completing inspections?
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Question 10 of 105
10. Question
What is the purpose of Errors and Omissions insurance?
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Question 11 of 105
11. Question
Why is erroneously reporting a vacant house as occupied a risk?
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Question 12 of 105
12. Question
In the quality control process, what are “flags”?
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Question 13 of 105
13. Question
When inconsistent data is received…
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Question 14 of 105
14. Question
Which of these are methods of quality control?
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Question 15 of 105
15. Question
A factory assembled home that is manufactured and assembled off-site is a:
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Question 16 of 105
16. Question
What is a Department of Housing ID tag more commonly called?
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Question 17 of 105
17. Question
What is housing consisting of a complex of dwelling units in which each unit is individually owned.
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Question 18 of 105
18. Question
What type of property has a chassis or wheels that act as an integral part of the structure?
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Question 19 of 105
19. Question
If the property is not secure, the inspector should do the following:
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Question 20 of 105
20. Question
Mortgage field service companies offer what types of inspections to help the investor gain the information regarding the condition and occupancy status of the property?
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Question 21 of 105
21. Question
Why should the inspector report any damages, even those that seem insignificant?
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Question 22 of 105
22. Question
For the inspector the terms change locks, cut grass, remove debris would fall under what category:
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Question 23 of 105
23. Question
If an area of a vacant property is inaccessible, what should the inspector do?
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Question 24 of 105
24. Question
Partially vacant status is possible for what type of properties?
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Question 25 of 105
25. Question
Why do financial institutions nationwide order mortgage field services?
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Question 26 of 105
26. Question
When reporting a property vacant the inspector should:
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Question 27 of 105
27. Question
When attempting to determine the occupancy status of a property, which of the following should be considered?
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Question 28 of 105
28. Question
A mobile home inspection can be a:
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Question 29 of 105
29. Question
How soon do most companies require a first time vacant inspection be returned to the servicing company?
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Question 30 of 105
30. Question
In doing an interior inspection in which the inspector finds the property to be occupied, they should:
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Question 31 of 105
31. Question
Select from the following list the best indicator that a property is occupied.
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Question 32 of 105
32. Question
When an inspector encounters an interior inspection and they are unable to gain access to the interior, the inspector should:
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Question 33 of 105
33. Question
When determining if maintenance is recommended on a vacant property having a pool and/or hot tub, it is also required to determine:
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Question 34 of 105
34. Question
Which of the following Should an inspector do?
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Question 35 of 105
35. Question
Most companies ask that the inspector check for messages and return calls how often?
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Question 36 of 105
36. Question
Which of the following should an inspector NOT do?
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Question 37 of 105
37. Question
It is _______ that the occupancy status and property condition information reported is as accurate as possible
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Question 38 of 105
38. Question
When should the inspector review the inspection order?
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Question 39 of 105
39. Question
With what type of inspection is it possible that the property will be vacant?
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Question 40 of 105
40. Question
If contact is made with a tenant, what information (if any) should the inspector attempt to obtain?
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Question 41 of 105
41. Question
Once the inspector has determined the property is vacant, he should:
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Question 42 of 105
42. Question
On a mobile home inspection, where can the inspector typically find the HUD number on the exterior of the mobile home?
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Question 43 of 105
43. Question
Select from the following list the best indicator that a property is occupied.
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Question 44 of 105
44. Question
When an inspector encounters an interior inspection and they are unable to gain access to the interior, the inspector should:
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Question 45 of 105
45. Question
When determining if maintenance is recommended on a vacant property having a pool and/or hot tub, it is also required to determine:
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Question 46 of 105
46. Question
Most companies ask that the inspector check for messages and return calls how often?
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Question 47 of 105
47. Question
Which of the following should an inspector NOT do?
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Question 48 of 105
48. Question
It is _______ that the occupancy status and property condition information reported is as accurate as possible
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Question 49 of 105
49. Question
When should the inspector review the inspection order?
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Question 50 of 105
50. Question
With what type of inspection is it possible that the property will be vacant?
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Question 51 of 105
51. Question
If contact is made with a tenant, what information (if any) should the inspector attempt to obtain?
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Question 52 of 105
52. Question
Once the inspector has determined the property is vacant, he should:
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Question 53 of 105
53. Question
Which of the following items are necessary for providing inspection services?
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Question 54 of 105
54. Question
When completing a No Contact Required but Permitted inspection how would the inspector be made aware that the occupant or neighbor has previously been hostile?
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Question 55 of 105
55. Question
When attempting to determine the occupancy status of a property where contact is not allowed or the inspector was unable to make contact, which of the following should be considered?
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Question 56 of 105
56. Question
Why is it a best practice during a bankruptcy or no contact allowed inspection for the inspector to park their vehicle one or two houses away and take photos at an angle?
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Question 57 of 105
57. Question
Who or what will determine the specific time frame for a window inspection?
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Question 58 of 105
58. Question
Window inspections is a common term used to describe which type of inspection?
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Question 59 of 105
59. Question
Inspectors may make observations based upon an open mailbox, but may not touch the mail or open the mailbox.
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Question 60 of 105
60. Question
When completing a contact inspection the client contact information will be provided to the inspector by the client.
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Question 61 of 105
61. Question
A No Contact Required but Permitted inspection is typically requested to learn the general condition of a property and report occupancy status.
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Question 62 of 105
62. Question
The inspector should always pay attention to special instructions provided from the client with additional important information pertaining to each inspection.
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Question 63 of 105
63. Question
When completing A No Contact Required but Permitted inspection the inspector does not need to be concerned with occupancy status.
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Question 64 of 105
64. Question
When completing a bankruptcy or No Contact inspection there is no need to report damages to the property.
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Question 65 of 105
65. Question
Window inspections can only be Contact inspections.
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Question 66 of 105
66. Question
No Contact Inspections require inspectors to inspect the property based on observations made without making contact with the occupant.
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Question 67 of 105
67. Question
What additional paperwork must be submitted when completing a FNMA inspection?
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Question 68 of 105
68. Question
When completing a Fannie Mae Property Inspection, which of the following is not required?
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Question 69 of 105
69. Question
Which of these is a question on the FNMA inspection?
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Question 70 of 105
70. Question
Common required information when completing an REO inspection does not include which of the following:
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Question 71 of 105
71. Question
When an REO inspection is being performed, the inspector is checking to determine:
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Question 72 of 105
72. Question
When inspecting the lawn during an REO inspection what should the inspector look for?
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Question 73 of 105
73. Question
What photos are usually required for a Merchant Site inspection?
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Question 74 of 105
74. Question
What photos are usually required for a Merchant Site inspection?
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Question 75 of 105
75. Question
A commercial inspection requires the inspector to:
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Question 76 of 105
76. Question
Inadequate or postponed repairs and items requiring replacement to be acceptable are examples of:
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Question 77 of 105
77. Question
When completing a commercial inspection an inspector should:
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Question 78 of 105
78. Question
The purpose for a vehicle inspection is:
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Question 79 of 105
79. Question
When verifying the VIN of a vehicle it is not acceptable to:
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Question 80 of 105
80. Question
An Insurance Loss inspector should do which of the following?
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Question 81 of 105
81. Question
On a Loss Draft inspection the inspector should meet with:
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Question 82 of 105
82. Question
Which of the following photographs are required when completing Insurance Loss Inspections?
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Question 83 of 105
83. Question
“Does the mortgagor plan to remain in the property?” and “Has hazard or flood insurance been filed?” are two questions unique to what type of inspection?
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Question 84 of 105
84. Question
If a property has been completely destroyed by a disaster, how should it be reported?
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Question 85 of 105
85. Question
What does FEMA stand for?
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Question 86 of 105
86. Question
Which of the following is not a common field for a FEMA inspection?
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Question 87 of 105
87. Question
Which of the following is not a common field for a FEMA inspection?
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Question 88 of 105
88. Question
An REO inspection is always only interior inspection and an exterior inspection is not required.
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Question 89 of 105
89. Question
Merchant Site Inspections help various credit card issuers mitigate risk and fraud when establishing a new account or following up on suspicious activity with an existing merchant.
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Question 90 of 105
90. Question
Merchant Site inspections usually require the inspector to set an appointment.
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Question 91 of 105
91. Question
Specialty Inspections never involve residential properties.
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Question 92 of 105
92. Question
If the vehicle is not in plain sight, the inspector should not attempt to locate the vehicle by trespassing, peering through a garage window or the like.
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Question 93 of 105
93. Question
The year, make and model are not necessary items on a vehicle inspections because the client already has that information.
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Question 94 of 105
94. Question
Inspectors should give advise on repairs to the mortgagor on Insurance Loss Inspections.
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Question 95 of 105
95. Question
Interior Insurance Loss inspections always require an appointment with the homeowner only.
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Question 96 of 105
96. Question
Multiple orders may be placed by the client for a Loss Draft inspection.
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Question 97 of 105
97. Question
As part of a Fannie Mae inspection, the Servicer uses the Fannie Mae Form 30 to document property inspections to determine the condition of properties owned or securitized by Fannie Mae.
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Question 98 of 105
98. Question
Mortgage Field Inspectors are the “eyes and ears” for the investors.
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Question 99 of 105
99. Question
Field inspectors are required to have a fuel-efficient vehicle and an all-terrain vehicle.
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Question 100 of 105
100. Question
Which of the following items are necessary for providing inspection services?
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Question 101 of 105
101. Question
Which of the following items are NOT necessary for providing inspection services?
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Question 102 of 105
102. Question
As a professional courtesy and in accordance with the Fair Debt Collections Act, inspections should be completed when?
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Question 103 of 105
103. Question
It is not necessary for the inspector to carry ID since they are an independent contractor.
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Question 104 of 105
104. Question
In many cases, the investor requires 24-hour notification, when a property is being reported as FTV in order to avoid the accumulation of additional damage at a property.
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Question 105 of 105
105. Question
What is the purpose of Errors and Omissions insurance?
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