What's the purpose of the Agency Disclosure Statement used in Kentucky residential transactions? To confirm the role of the agent and obtain consent from the client. Practice questions for state real estate exam Learn with flashcards, games, and more β for free.Study with Quizlet and memorize flashcards containing terms like Income tax deductabile in home ownership, When should purchase price be decided with 60 day option, The 1988 Amendments to the Fair Housing Act and more. ... GA REAl ESTATE PRACTICE EXAM. Flashcards. Learn. Test. Match.Study with Quizlet and memorize flashcards containing terms like 1. The rights of ownership of real property include all of the following EXCEPT a. compatibility . b. disposition. c. exclusion. d. control., 2. An important characteristic of land is that it may be modified or improved at some point in time. Depending on its type, an improvement may increase the value of real estate greatly. 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With this type of loan, personal property is included with the real property in the sale. It's commonly seen in commercial real estate, but you may also see this in the sale of furnished condominiums.17 of 17. Quiz yourself with questions and answers for Illinois Real Estate Practice Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Study with Quizlet and memorize flashcards containing terms like personal property, bonding requirement for real estate sales people and brokers in Md, the act of steering or blockbusting is and more. ... Maryland Real Estate Exam Prep with 80 Questions and Answers- Study Everywhere. 30 terms. roshni_davis8. Preview. PSI Maryland Practice Exam ...Practice of Real Estate Remedies under the new amendment include: 1) a civil penalty, not exceeding $16,000 for the first offense 2) a penalty not exceeding $37,500, if another offense was committed within the past 5 years 3) a penalty not exceeding $65,000 if two or more discriminatory practices have been found in the past 7 yearsAs you age, it is important to stay up-to-date on your driving skills and knowledge. Taking a practice test before your senior driverβs exam can help you prepare and ensure that yo...With the purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all purchasers' names will be entered into our lottery sweepstakes! Come soon while lots are still available." Which of the following statements concerning the ad is the most accurate? Real Estate MO Learn with flashcards, games, and more β for free.At $10 per square foot, the tenant's base rent is $30,000. Since the total rent was $60,000 that means the remaining $30,000 was due to the gross sales percentage. Since that figure is 8%, simply divide $30,000 by .08 to arrive at $375,000. what is Economic obsolescence.A metes and bounds description. A) must cover an area larger than 10 acres. B) must be made only in an area not covered by the rectangular survey system. C) must begin and end at the point of beginning. D) must always use north as a baseline direction. C) must begin and end at the point of beginning.Study with Quizlet and memorize flashcards containing terms like An application for a commercial loan would include all of the following items EXCEPT: a. information on the applicant company and the individuals involved b. complete financial statements and property evaluation c. a statement of compliance with RESPA requirements d. projection of income to show source of loan repayment, The ...25 of 25. Quiz yourself with questions and answers for National Real Estate Practice Exam PSI Pt. 4, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Texas Real Estate Principles 1 (Practice Exam) 48 terms. nicoleemramirezz. Preview. texas real estate practice exam. 100 terms. amanda_williams222. Preview. 3-1πΈ.Study with Quizlet and memorize flashcards containing terms like 1. A real estate sales agent may be employed by: (Page 2), 2. As a prerequisite to an agent's use of an income and expense data worksheet, the agent asks a prospective broker: (Page 15), 3. A ____ occurs when a broker or their agent has a professional or personal bias which hinders their ability to fulfill the fiduciary duties ...Kaplan Real Estate Practice Questions. the mortgagor. the mortgagee. the optionor. the optionee. A) Choice A is correct. 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Have a desk for every five agents. C. Keep records for a period of ten years. D. Keep records for a period of three years. Keep records for a period of three years. Angela operated her own brokerage firm until she unexpectedly passed away. The Board appoints her son, Adam, to operate the business ...Study with Quizlet and memorize flashcards containing terms like While fannie mae considers total housing debt to income ratios in its underwriting process, freddie mac considers, an insurance score above (a. 500, b. 660, c. 770 or d.800) should be considered a good score., carmen has a buyer client who's paid earnest money to reserve a site in a new construction development.Study with Quizlet and memorize flashcards containing terms like 1 Taylor purchased a home in North Carolina for $299,900 while obtaining a loan for $250,000. How much excise tax would be paid at closing, and by which party? Review Later $600 paid by Buyer $600 paid by Seller $500 paid by Seller $500 paid by Buyer, 2 An inheritable estate that automatically reverts to the previous owner or ...A misdemeanor. What dollar amount of capital gains is tax-exempt for a single person? $250,000. If a married couple sells their house for a profit of $300,000, on what amount of capital gains do they pay tax? They only pay if the profit is over $500,000. If a married couple bought a house for $50,000 and sold it for $400,000, what amount do ...Study with Quizlet and memorize flashcards containing terms like An application for a commercial loan would include all of the following items EXCEPT: a. information on the applicant company and the individuals involved b. complete financial statements and property evaluation c. a statement of compliance with RESPA requirements d. projection of income to show source of loan repayment, The ...Study with Quizlet and memorize flashcards containing terms like C.) It protects the lender from loss due to defective titles. The property is used as collateral (security) for the loan. The title insurance protects a lender against the loss of security as a result of a title problem., C.) The lender must provide the Closing Disclosure by Friday of the week before closing. Lenders must deliver ...Having life insurance is a big deal. These are the top life insurance companies that don't require a medical exam to get covered. Home Insurance Having a life insurance policy is ...Alienation. A change of ownership of real property. Voulntary Alienation. An owner transfers title to another, usually with a written document, such as a deed, will, or power of attorney. Involuntary Alienation. A transfer of ownership usually through the court as in foreclosure, bankruptcy, condemnation, escheat, adverse possession or ...10. An agency relationship created by an oral or written agreement between principal and agent is a (n) 11. Martin signs an exclusive-right-to-sell listing agreement for six months with Broker Gerald. Within one month, Martin sells his house himself and refuses to pay a commission to Gerald.Study with Quizlet and memorize flashcards containing terms like Who works on behalf of landlords and property management companies to ... Punitive damages and non-punitive damages Conveyance damages and actual damages Damages by design and fraud damages Loss of ... 45-hour PAReal Estate Practices PRACTICE EXAM. 5.0 (3 β¦The #1 Rated Free Real Estate Practice Exam. Designed to help pass your test. Actual questions and answers with zero fluff.Terms in this set (81) Start studying REAL ESTATE Practice EXAM #3.5. Learn vocabulary, terms, and more with flashcards, games, and other study tools.Study with Quizlet and memorize flashcards containing terms like In Florida, real property is assessed on January 1 of each year, and property taxes become a lien on the property on A) December 31, the same year. B) January 1, the same year. C) November 1, the same year. D) April 1, the next year., A developer purchased three oceanfront lots, each measuring 75 by 110 feet, for $20 per square ...Missouri Real Estate Exam. 100 terms. savajohn. Preview. AP Gov Unit 1 questions (foundations of democracy) 11 terms. kai_mccarthy. Preview. health assessment exam 1.An owner of land that borders a non-navigable stream: a. owns the land up to the mean high water mark. b. owns the entire stream and the land under it. c. owns the land under the water to the exact center line of the waterway. d. does not own the stream since it is a public waterway. c. owns the land under the water to the exact center line of ...Study with Quizlet and memorize flashcards containing terms like An individual special district authorized by statute to issue bonds to raise funds to construct infrastructure for a residential development is referred to as a... a) community association b) special tax district c) community development district d) homeowner's association, A real estate licensee who is representing a tenant in a ...Study with Quizlet and memorize flashcards containing terms like article 12-A of the NYS Real Property Law, Sponsor, "Summary of your Submission and more. ... Real Estate NC State Exam Prep. 35 terms. charlottehastyyy. Preview. Tort Law Essentials. 24 terms. ivanwon. Preview. Pass The Exam (New York) 325 terms. Apartment_302. Preview.National Pearson VUE Real Estate Exam Prep. A broker lists a property and begins marketing it. The seller sells the property to a neighbor and upon closing pays the broker a full commission. What type of listing agreement did the brokerage firm have with the seller?219 Multiple choice questions. Term. 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... riparian. improvements. executory. the landlord.Real Estate Practice Quiz: Chapter 1 - Getting Started in Real Estate. Which of the following statements is TRUE about mobile home sales? Click the card to flip π. Both a real estate agent can sell a mobile home in a rental park space and a real estate agent can sell a mobile home with the land it is sited on. Click the card to flip π.Study with Quizlet and memorize flashcards containing terms like Primary Purpose of Louisiana License Law is to, The LA Real Estate Commission consists of, To confirm commission appointments, the Governor must submit names to and more. ... Louisiana Real Estate Practice Exams (National) 151 terms. CJS701. Preview. Real Estate State β¦Take this free practice test to see how prepared you are for a real estate agent certifying exam. All states require real estate agents to be licensed by the state to engage in the β¦What was the year of the first major federal housing legislation? 1866. Study with Quizlet and memorize flashcards containing terms like What agency issues real estate licenses?, At what age can you become a real estate salesperson?, Do you need experience in the field to become a sales person? and more.Term. The Broker of record can be responsible for the real estate transactions worked on by _______. A fine between $100 and $1000 and a jail sentence of up to 6 months. Contractor lists all materials, equipment, and necessary labor. Have Emilio agree to pay the broker's commission if he buys the FSBO.10. An agency relationship created by an oral or written agreement between principal and agent is a (n) 11. Martin signs an exclusive-right-to-sell listing agreement for six months with Broker Gerald. Within one month, Martin sells his house himself and refuses to pay a commission to Gerald.To help contribute to any future changes or revisions in the agency disclosure office policy. Quiz yourself with questions and answers for Alabama (STATE) Real Estate Practice Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Study with Quizlet and memorize flashcards containing terms like Under the law of agency, a broker's responsibility to the principal is?, Which of the following items would have to be disclosed to prospective buyers by the listing broker?, Under a sales contract, the legal remedy that MAY be used to force the seller to consummate the sale is called? and more.Study with Quizlet and memorize flashcards containing terms like Amenities of residential real estate are:, To restore an old home to its original condition without making any changes in the floor plan or style is referred to as, One who takes in severalty most generally takes title and more.Study with Quizlet and memorize flashcards containing terms like 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: a. encroachments b. improvements c. surface rights d. emblements, A property owner has a waterfront lot on a stream. He has the right to use the water from the ...5 years. 3 years. 16 of 16. Quiz yourself with questions and answers for Real Estate Practice Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.75 of 75. Quiz yourself with questions and answers for New York State Real Estate Salesperson Licensing Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Terms in this set (28) A real estate sales agent may be employed by: Their broker. As a prerequisite to an agents use of an income and expense data worksheet, the agent asks a prospective broker: The price range of property the agent is most likely to list and sell. A (blank) occurs when a broker or their agent has a professional or personal ...Completing a medical exam is an important task involved in buying life insurance. Learn everything you need to know about life insurance medical exams here. By clicking "TRY IT", I...Study with Quizlet and memorize flashcards containing terms like A _____ is a permanent change in one or more of the terms of a borrower's loan. ... Real Estate Practice Exam Questions. Teacher 90 terms. Logan_Cooper289. Preview. CPA Auditing. Teacher 18 terms. John_Johnson7592. Preview. ACCT 450 - Chapter 11. 16 terms. coffeefan123.Study with Quizlet and memorize flashcards containing terms like Broker, Broker-Salesperson, Bureau of Subdivided Land Sales Control and more. ... PSI NJ Real Estate Exam, PSI Practice Test. 136 terms. cynthiaarellano77. Preview. NJ REAL ESTATE PRACTICE EXAM 2021. 95 terms. anahidsaadati. Preview. Econ: Chapter 1 Section 1-2-3. 12 terms.75 of 75. Quiz yourself with questions and answers for New York State Real Estate Salesperson Licensing Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.1. complete an additional 15- hour course for non-residents. 2. furnish evidence of good moral character to the real estate commission. 3. pay a higher licensing fee than resident licenses. 4. file a consent to be sued in NJ. By definition, an "estate for years". 1. must be for at least two years.A family purchased a $90,000 lot to build a custom home. At the date of closing, the lot was assessed at $84,550 and the tax rate was $1.91/$100 assessed valuation. When they completed the home, the assessment increased by $235,000 to include the new construction.Study with Quizlet and memorize flashcards containing terms like Which of the following professionals involved in the real estate business are the most concerned about managing real estate for clients? A) Brokers and Agents B) Property Managers C) Corporate Real Estate Managers D) Appraisers, Real Estate can be defined as A) Land and all property continued therein. B) Unimproved land. C) Land ...a. appraisals. b. broker price opinions. c. comparative market analysis. d. real estate licensees are exempt from the provisions of USPAP. a. Appraisers are paid a fee because. a. to accept compensation based on the appraised value is a conflict of interest. b. custom dictates the method of compensation. real estate practice exam. 1. Seller employed Broker to sell his property in Astoria Park. Broker subsequently negotiated a contract whereby Seller and Buyer agreed to sell and buy the property in Astoria Park. The contract was prepared and typed in Broker's office. As there were numerous conditions and terms that had been agreed upon by Seller ... Study with Quizlet and memorize flashcards containing terms like 1. When must a written no brokerage relationship notice be provided to customers?, 2. ... Florida Real Estate Practice Final Exam 2020. Teacher 210 terms. paulinenyaguthii27. Preview. Economics Exam 1. 31 terms. katrinat3005. Preview. REAL4000 Test 1. 19 terms. Anna_McCabe17 ...20 of 20. Quiz yourself with questions and answers for TN REAL ESTATE PRACTICE EXAM, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Study with Quizlet and memorize flashcards containing terms like The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law, A group license A. allows β¦101 of 101. Quiz yourself with questions and answers for Real Estate Practice Exam (State), so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material. Terms in this set (28) A real estate sales agent may be employed by: Their broker. As a prerequisite to an agents use of an income and expense data worksheet, the agent asks a prospective broker: The price range of property the agent is most likely to list and sell. A (blank) occurs when a broker or their agent has a professional or personal ... Study with Quizlet and memorize flashcards containing terms like A succession of conveyances from one owner to another from a certain point in time is:, Mr. Jones has a fee simple estate. He leases his property to Mr. Rios for 10 years. Mr. Jones has:, The origins of agency relationships began in the United States when the first real estate act was passed in: and more.an individual who performs certain real estate services for another party for compensation. ultimately responsible for the company's activities, notably the activities of other licensees as well as the business's trust accounts. real estate duties not requiring license. Delivery of a lease application or lease.95 of 95. Quiz yourself with questions and answers for Real Estate Exam Prep 1, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Meet the requirements for a new license, including all pre-license education and passing the exam. Three weeks before N begins his real estate pre-license class, he offers to help his neighbor sell her house. The neighbor agrees to pay N a 5% commission. An offer is accepted while N is taking the class and closes the day after N passes the exam ...Questions Flashcards | Quizlet. Georgia Real Estate Exam Prep. Questions. Which of the following may represent an exemption from Georgia fair housing laws. Click the card to flip π. Angie owns a four-plex. She lives in one unit and rents out the others. Click the card to flip π. 1 / 47.With the purchase of one gorgeous lakeside lot, you will receive a second free. Plus, all purchasers' names will be entered into our lottery sweepstakes! Come soon while lots are still available." Which of the following statements concerning the ad is the most accurate? Real Estate MO Learn with flashcards, games, and more β for free.40 of 40. Quiz yourself with questions and answers for Ms Real Estate Mississippi Practice Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Study with Quizlet and memorize flashcards containing terms like 1. The rights of ownership of real property include all of the following EXCEPT a. compatibility . b. disposition. c. exclusion. d. control., 2. An important characteristic of land is that it may be modified or improved at some point in time. Depending on its type, an improvement may increase the value of real estate greatly. All ... 214 Multiple choice questions. Term. Harrisburg resident Joseph Bell has worked full-time for Larry Keen, who is the builder-owner of dozens of homes just outside of Harrisburg. Joseph is Larry's "right-hand man," and Larry has given him permission and the authority to take on many of Larry's tasks. A real estate salesperson advises a prospective buyer that the property the buyer is considering will be annexed into the city limits. This disclosure constitutes: Required disclosure to buyer. Knowing that his client, the owner, is eager to sell, the salesperson suggests that the prospective buyer make an offer of $210,000.28 of 28. Quiz yourself with questions and answers for Real Estate Practice Final Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Hello, welcome to our California Real Estate Practice Exam. In California, there are 150 questions on the exam. Many states have a national portion and a state portion, but California has one section combining both for a total of 150 questions. The two most effective study tools for the state exam are practice exams and learning the state-specific license laws.Study with Quizlet and memorize flashcards containing terms like The science that describes the management, creation, and study of money, banking, credit, investments, assets, and liabilities is, Most real estate cycles in Texas are determined by:, _____ measure(s) the wealth and resources of a particular area or region, as well as production and consumption. and more.just describe the property. Study with Quizlet and memorize flashcards containing terms like The Oklahoma Real Estate Commission requires continuing education to include certain core subjects. Which one of these is NOT a core subject area?, Sales associate Jonathon joins a brokerage as an independent contractor.County Tax rate = $75 / $1,000 = 0.075. County Taxes = $9,000 x 0.075 = $675. Next, we can use this information to determine the amount of taxes received by the city: City Tax rate = $10 / $75 = 0.133. City Taxes = $675 x 0.133 = $89.78. Rounded to the nearest dollar, the city will receive $90 in taxes from the county.Quiz yourself with questions and answers for Real Estate Practice Exam, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.20 of 20. Quiz yourself with questions and answers for Florida Real Estate State Exam Prep, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.1. be 18, 2. complete 30 hour pre-license course, 3. criminal background 4. 30 hour Kansas Practice Course 5. No more than 6 months after exam file application for license, 6. character references. supervising or branch broker changes name, change of location of office, licensee is dismissed for violation of the law.a. On real estate web sites, a salesperson's name cannot be displayed in type that is larger than the broker's name. b. Any ads placed on the Internet must have a link to the licensee's email address. c. If a salesperson has a web site, the broker must supervise the site. d.20 of 20. Quiz yourself with questions and answers for TN REAL ESTATE PRACTICE EXAM, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.17. Study with Quizlet and memorize flashcards containing terms like Which of the following is exempt from the Natural Hazards Disclosure?, Karen and Jay need a larger home. They have two large dogs and a baby on the way. One day in the real estate section, they see their dream home.Study with Quizlet and memorize flashcards containing terms like Regarding documentation, which of the following actions can help a licensee avoid being accused of unauthorized practice of law? Disclosing in writing to all parties in a transaction that the licensee isn't a licensed attorney, so there's no licensee liability Having a designated broker review and notarize all completed contracts ...17. Study with Quizlet and memorize flashcards containing terms like Which of the following is exempt from the Natural Hazards Disclosure?, Karen and Jay need a larger home. They have two large dogs and a baby on the way. One day in the real estate section, they see their dream home.A NC provisional broker may advertise a property only if the broker: A. personally listed the property. B. uses the employing broker's name or the firm name in the advertisement. C. personally pays for the advertisement. D. is an active member of the local real estate board. B- uses the employing broker's name or the firm name in the advertisement.Study with Quizlet and memorize flashcards containing terms like Who must be licensed?, Real Estate Commission, Classes of licenses and more. ... NJ REAL ESTATE PRACTICE EXAM 2021. 95 terms. anahidsaadati. Preview. American Law exam 3. 52 terms. eshortyyy. Preview. NJ Real Estate Exam. 300 terms. mike_leone52. Preview. Pharmacy. 15 terms.21 of 21. Quiz yourself with questions and answers for Ga Real Estate Exam - Real Estate Practice Test, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Study with Quizlet and memorize flashcards containing terms like The list of potential clients that an agent contacts on a regular basis, Errors and Omissions insurance is meant to protect whom from liability, A salesperson who receives all (or nearly all) of the commission earned from a real estate transaction: and more.Study with Quizlet and memorize flashcards containing terms like Geraldine runs a credit report on William, an applicant wishing to become a tenant in one of her units. Based on William's credit report, Geraldine decides to reject William's application. The Fair Credit Reporting Act states Geraldine MUST:**, Rory wants to invest some of his money. He β¦ Assumption clause. if loan is assumed new buyers obligated to pay off loan. straight assumption. new buyer responsible, can not impact seller's credit score. subject to assumption. buyer not liable for loan can impact seller's credit score. State Exam Prep Material Learn with flashcards, games, and more β for free. Test your knowledge of real estate terms and concepts with this set of 90 flashcards created by Logan_C
Broker's principle are called. clients. the Maryland Real Estate Commission. 3 out of its members are not real estate licensees and 5 are. a team leader. The team leader is chosen by the members of the team. The team leader is responsible for reasonable and adequate supervision of the team. The team leader can be the branch manager.1. complete an additional 15- hour course for non-residents. 2. furnish evidence of good moral character to the real estate commission. 3. pay a higher licensing fee than resident licenses. 4. file a consent to be sued in NJ. By definition, an "estate for years". 1. must be for at least two years.Study with Quizlet and memorize flashcards containing terms like Maria acquires a property from her uncle Alfonso. When Maria dies, the estate will pass to Alfonso's other niece Serena. ... Pearson Vue Real Estate Practice Exam. 67 terms. Ms_darcy. Preview. Digital Marketing Final Study Guide - Chapter 6. 47 terms. super_nutellala681. Preview ...60 of 60. Quiz yourself with questions and answers for Appraisal Real Estate practice exam 1, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.A) Every two years on August 31 of even-numbered years. B) Every two years on September 30 of odd-numbered years. C) On her birthday. D) On the anniversary of the date Tammy's license was issued. A) Every two years on August 31 of even-numbered years. Jessica has just taken her Alabama real estate license exam.Study with Quizlet and memorize flashcards containing terms like 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: a) encroachments b) improvements c) surface rights d) emblements, A property owner has a waterfront lot on a stream. He has the right to use the water from the ...Study with Quizlet and memorize flashcards containing terms like 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: a) encroachments b) improvements c) surface rights d) emblements, A property owner has a waterfront lot on a stream. He has the right to use the water from the ...The $20,000 limit applies to claims including one transaction, while a $______ limit applies if two or more transactions are included. The limit is the total that the commission will pay out for a licensee. The number of claimants in each transaction does not affect the payment limits from the recovery fund. $50.000.Study with Quizlet and memorize flashcards containing terms like Chapter 339 of the MO Statutes is: Code of Ethics License Law MLS Rules For commercial agents only, Susie is employed by broker Joe to show rental properties that he manages. She shows rental units, collects security deposit checks made payable to the owner, and delivers leases. Based on these actions, Susie: Must be a real ...The single agent only represents one client in a transaction. 20 of 20. Quiz yourself with questions and answers for Indiana real estate practice test questions, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.23 of 23. Quiz yourself with questions and answers for Real Estate Exam Massachusetts Test Practice, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.A. Have one telephone for every five agents. B. Have a desk for every five agents. C. Keep records for a period of ten years. D. Keep records for a period of three years. Keep records for a period of three years. Angela operated her own brokerage firm until she unexpectedly passed away. The Board appoints her son, Adam, to operate the business ...Terms in this set (28) A real estate sales agent may be employed by: Their broker. As a prerequisite to an agents use of an income and expense data worksheet, the agent asks a prospective broker: The price range of property the agent is most likely to list and sell. A (blank) occurs when a broker or their agent has a professional or personal ...Real Estate Practice Quiz: Chapter 1 - Getting Started in Real Estate. Which of the following statements is TRUE about mobile home sales? Click the card to flip π. Both a real estate agent can sell a mobile home in a rental park space and a real estate agent can sell a mobile home with the land it is sited on. Click the card to flip π.Study with Quizlet and memorize flashcards containing terms like the real estate licensing authority in Indiana is the, Under what law are Indiana real estate broker license issued?, Which of the following is NOT a sanction taken by a regulatory board against a licensee for violating real estate law? and more.Study with Quizlet and memorize flashcards containing terms like To qualify for a real estate salesman license in Alabama, a person must:, Broker Mary Hart operates a brokerage business within the corporate city limits of Montgomery. Hart:, Under Alabama law, a licensee is prohibited from all of the following except: and more.140 of 140. Quiz yourself with questions and answers for FL Real Estate Exam Practice Questions, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.This act applies to the sale of residential properties that include four or fewer units. Quiz yourself with questions and answers for National Real Estate Exam Practice, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.a. appraisals. b. broker price opinions. c. comparative market analysis. d. real estate licensees are exempt from the provisions of USPAP. a. Appraisers are paid a fee because. a. to accept compensation based on the appraised value is a conflict of interest. b. custom dictates the method of compensation.b) Legal life estate. c) Fee simple defeasible estate. d) Tenancy by the entirety's. a) conventional life estate. One difference between a cooperative estate and a condominium estate is that: a) a condominium owner owns a unit of air space whereas the co-op owner owns a proprietary lease. b) A condominium sale adversely affects other unit owners. Study with Quizlet and memorize flashcards containing terms like If an applicant for a sales license engages in a brokerage transaction, the applicant: a. may be paid for the transaction, after he gets his license b. may face criminal charges resulting in fine and/or jail c. is following standard operating procedures d. is ineligible for a license for 2 years, An unlicensed assistant is hired ... Assumption clause. if loan is assumed new buyers obligated to pay off loan. straight assumption. new buyer responsible, can not impact seller's credit score. subject to assumption. buyer not liable for loan can impact seller's credit score. State Exam Prep Material Learn with flashcards, games, and more β for free.Study with Quizlet and memorize flashcards containing terms like 5 members, The Governor, 3 must have RE license, 1 non-RE person, 1 person over 60 years old and more. ... Arkansas Real Estate Practice Exam. 100 terms. pcates23. Preview. 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Appraisers are paid a fee because. a. to accept compensation based on the appraised value is a conflict of interest. b. custom dictates the method of compensation. 20 of 20. Quiz yourself with questions and answers for TN REAL ESTATE PRACTICE EXAM, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.118 of 183. Definition. 1) Prior to the closing of sale, the seller must give the buyer a statement regarding the condition of the property. 2) If a real estate agent is involved in the sale, the agent must also do a physical inspection and report his or her findings. 3) All parties sign the form.Study with Quizlet and memorize flashcards containing terms like the real estate licensing authority in Indiana is the, Under what law are Indiana real estate broker license issued?, Which of the following is NOT a sanction taken by a regulatory board against a licensee for violating real estate law? and more. ... Indiana State Practice Exam ...Study with Quizlet and memorize flashcards containing terms like Agent, Agency, Blockbusting and more. ... Book 1 Exam Real Estate. 43 terms. Sofie_Elady1016. Preview. California Real Estate Principles - Questions and Answers. ... Economics Exam 3 Practice 1. 18 terms. bnitterhouse. Preview. unit 9. 20 terms. irynaohrimovska86. Preview. Module ...Study with Quizlet and memorize flashcards containing terms like Which of the following professionals involved in the real estate business are the most concerned about managing real estate for clients? A) Brokers and Agents B) Property Managers C) Corporate Real Estate Managers D) Appraisers, Real Estate can be defined as A) Land and all property continued therein. B) Unimproved land. C) Land ...Listed below are all of our real estate practice exams. Make sure to use the answer explanations at the end of each exam to better understand complex concepts. Real Estate Practice Exam #1. Real Estate Practice Exam #2. Real Estate Practice Exam #3. Real Estate Practice Exam #4. Real Estate Practice Exam #5.Study with Quizlet and memorize flashcards containing terms like a lease that requires a tenant to pay all operating expenses such as property taxes, insurance, and maintenance is:, a tenant who is interested in purchasing the house she is leasing and wants a chance to match a bid that may come in from a third party should obtain:, the following statement is true concerning subleasing: and more.C Severance. D Hypothecation. A lease creates an interest (s) known as a: A Freehold interest. B Non-freehold interest. C Non-freehold and rental only interest. D Non-freehold, transference, and possession interest. Tom Brady gives Jimmy Garoppolo the right to his home so long as Jimmy is alive. However, once Jimmy passes away, the property ...Study with Quizlet and memorize flashcards containing terms like Escheat, Does Iowa allow holographic wills?, The license law is administered by who? and more. ... Iowa Real Estate Exam Practice. 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