Study guides, Class notes & Summaries

Real Estate Principles Final Exam| Questions and Answers, 100% Correct Anything that is fastened or attached to real property permanently is considered to be: Real Property A quit claim deed releases all present claims, rights and title of the: Grantor When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: Obtain a writ of execution Before a mechanics lien is effective it must be: Verified and recorded Discrimination by a real estat...

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 Discrimination by a real estate licensee based on race is: - ANSWER...

Real Estate Principles- 2024| Questions & Answers The Transfer Disclosure Statement (TDS) is required in which type of transaction? A) Sales involving co-owners B) Sales involving federally regulated lenders C) Sales involving one-to-four-family dwellings, except for specified exempt transactions D) Only in "as-is" sales - ️️ - C) Sales involving one-to four-family dwellings, except for specified exempt transactions To qualify for a real estate broker's license, a person must comple...

Real Estate U Final Exam Study Guide 2024 Questions and Answers Article 12-A of the NYS Real Property Law - Answer- The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age Sponsor - Answer- A licensed real estate broker that holds the license of a salesperson. "Summary of Your Submission" - A...

California Real Estate Exam Multiple Choice Questions and Answers An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - Answer- d. all of the above. These are elements of value. Which of the following abbreviations is associated with the FHA? a. NAR ...

Superior Real Estate School Exam Questions and Answers All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity - Answer- D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract rather than order the breaching party to pay monetary damages. Which physical characteristic of land is t...

National Real Estate Exam Practice Questions and Answers A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of... - Answer- improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right called? - Answer- riparian A tenant is aware that his lease will expire at the end of the month. He has begun to disassem...

Indiana Real Estate Exam Questions and Answers 100% Pass The ____ is fully responsible for the actions preformed in the course of real estate business by all persons licensed under ______. - Answer- Broker, Broker The _____ can carry out ONLY those responsbilties assigned by employing ____. - Answer- Salesperson, broker A salesperson can receive ______ ONLY from that broker. - Answer- compensation A salesperson has _______ to make contracts with or ______ from any other party. - Answer- ...

Principles of Real Estate 1- Champions School of Real Estate Exam Questions and Answers a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification - Answer- D.) Modification The supply of Real Estate is affected by A.) Land cost B.) Building codes C.) Government regulations D.) All of these - Answer- D.) Al...

Real Estate Practice Exam Questions and Answers 1. Brokerage definition... - Answer- the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - Answer- schools and cemetary 3. What is an example of functional obsolescence? - Answer- bathroom 4. Principal definition... - Answer- a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalizatio...

PSI National Exam for Real Estate Exam Questions and Answers A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called - Answer- a contract Antitrust laws prohibit competing brokers from all of the following - Answer- 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management rates. When a sewer line is installed down a rural road, the cost will probably be shared b...

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 ...