California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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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.