Real Estate Principles Study guides, Class notes & Summaries

Georgia Real Estate Exam Study Guide 2024 Questions and Answers Accession - Answer- The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants, trespassers, or by nature. Acre - Answer- A measure of land area equal to 43560 square feet. 43560 - Answer- The number of squarefeet in one acre. Active License - Answer- Status of an individual who has met all qualifications to practice real estate as a broker, associate broker, or ...

NYS Real Estate Practice Exam Questions and Answers What agency issues real estate licenses? - Answer- The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - Answer- 18 Do you need experience in the field to become a sales person? - Answer- No What is the minimum age to become a real estate broker? - Answer- 20 If your license is revoked, how long do you have to wait to re-apply for it? - Answer- One year Do ...

New York State Real Estate Salesperson Licensing Exam Questions and Answers In NYS, how old must one be to enter into contracts? - Answer- 18 What other capability should they possess? - Answer- Mental and emotional capability What happens if one of the parties to the contract is a minor? - Answer- The contract is voidable by the minor What does the zoning board of appeals do? - Answer- Grants variances What regulates construction standards in NYS? - Answer- Building codes What does muni...

Principles of Real Estate 1 Final Exam Questions and Answers If a real estate salesperson closes on a transaction, who pays the salesperson their commission? - Answer- The salesperson's sponsoring broker If a real estate salesperson closes on a transaction, who pays the salesperson their commission? - Answer- The salesperson's sponsoring broker A means of comparing similar type properties, which have recently sold, to the subject property is known as the? - Answer- Market Comparison App...

Real Estate Principles Final Exam Questions and Answers Anything that is fastened or attached to real property permanently is considered to be: - Answer- Real Property A quitclaim deed releases all present claims, rights and title of the: - Answer- Grantor When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: - Answer- Obtain a writ of execution Before a mechanics lien is effective it must be: - Answer- Verified and recorded Discriminat...

Louisiana Real Estate Exam Questions and Answers 100% Pass The Commission is comprised of how many members? - Answer- 11 Commission members are appointed by who? - Answer- The governor Each appointment to the Commission shall be for a __ year term. No commissioner may serve more than that. - Answer- 6 The Commission must meet ______. - Answer- quarterly A minimum of __ members is required for a ______ to conduct business. - Answer- 5 quorum The Commission may meet more frequently if suc...

MA Real Estate Exam Study Guide 2024 Questions and Answers Appraisal - Answer- An estimation of a property's value, usually prepared by a professional who is licensed in this field. Brokerage - Answer- The business of bringing people together in a real estate transaction. Commerical - Answer- The types of properties that include office spaces, shopping centers, stores, theaters, hotels, parking facilities, etc. Development - Answer- The term for the construction of improvements upon the...

REAL ESTATE ( AZ SPECIFIC ) EXAM QUESTIONS AND ANSWERS Arizona property taxes are based on: - Answer- Assessed value The tax rate applied to owner occupied residential property is: - Answer- 10 % What lien has priority first: - Answer- Property taxes Property taxes become a lien the first day of: - Answer- January If a property is not bid at a tax foreclosure sale: - Answer- Anyone can later buy the tax lien from the Treasurer Rank the following in order: IRS lien, Property Taxes, Speci...

Texas Real Estate State Exam Questions and Answers 100% Verified Real Property - Answer- land, Improvements attached to the land, and the rights to use them Personal Property - Answer- right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE Fixture - Answer- Personal Property attached in such a way to make it real property. Annexation - Answer- Process of attaching personal property to real property making it a fixture Sev...

SOUTH CAROLINA REAL ESTATE EXAM PRACTICE QUESTIONS AND ANSWERS The amount per $1,000 used to calculate taxes on property is the - Answer- milliage rate The common name of the hazardous-waste cleanup fund established by the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) is - Answer- superfund May eviction and foreclosure notices be delivered electronically in South Carolina? - Answer- NO How many years of sales experience must a salesperson have in order to...