Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
1 year - ✔✔✔-complaint regarding a violation of FHA must be brought by
1 year - ✔✔✔-time limit to file a complaint with HUD
10 - ✔✔✔-if a licensee moves to a new residence you have this many days to notify the
commission
10 million - ✔✔✔-annual reporting by lenders with assets greater than
11,000 - ✔✔✔-fine for first violation of FHA could be as much as
12 - ✔✔✔-FRS consists of ___ federal reserve district banks
120 days - ✔✔✔-Law judge has ___ to commence a hearing on charges filed
15 - ✔✔✔-Companies with ___ or more employees must make reasonable accomondations
1978 - ✔✔✔-asbestos banned in insulation
1996 - ✔✔✔-manufacture of CFCs ended in
2 years - ✔✔✔-aggrieved party may bring private enforcement action in court for
20 days - ✔✔✔-to file an answer to a complaint from the commission
20,000 - ✔✔✔-max amount of recovery fund
,Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
20% - ✔✔✔-percentage of commercial properties that contain asbestos
200 - ✔✔✔-More than ___ deaths occur from carbon monoxide poisoning
29.5 years - ✔✔✔-current term for straight line depreciation for residential properties
3 - ✔✔✔-Deed of trust is a ___ party instrument used in place of a mortgage
3 - ✔✔✔-Under the truth in lending act, if a borrower secures a loan with residence she
has______ days to rescind
3 categories of discrimination - ✔✔✔-direct discrimination, reasonable modification and
reasonable accommodation
30 days - ✔✔✔-landlord must wait this long before removing the deposit and applying the
money to the unpaid rent
30 days - ✔✔✔-parties have __ to appeal case to appropriate fed court of appeals
39 years - ✔✔✔-straight line depreciation for commercial properties
4 - ✔✔✔-commission cannot have more than ___ members from one political party
4 - ✔✔✔-rentals with ___ or less units are exempt from FHA if owner lives there
,Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
48 hours - ✔✔✔-new licensee must complete ___ in post license ed
50,000 - ✔✔✔-Commission can pay ___ from recovery fund
50,000 ; 100,000 - ✔✔✔-____ first offense and up to ____ for subsequent violation
6 - ✔✔✔-kids under the age of ___ are most vulnerable to lead based poisoning
60 days - ✔✔✔-how long does a licensee have to send the owner final accounting after an a
managing agreement is terminated?
7 members of commission - ✔✔✔-6 broker and 1 consumer
75% - ✔✔✔-of homes built before 1978 have lead base paint
95% - ✔✔✔-A reit doesnt have to pay corporate income tax as long as ___ of income is
distributed
Accession - ✔✔✔-Acquiring title to additions or improvements to real property as a result of a
lease ending
acre - ✔✔✔-43560 square foot
ad valorem taxes - ✔✔✔-boat or car taxes are not real estate taxes, they are
administrative enforcement, attorney general litigation and private litigation - ✔✔✔-3 avenues
for redressing housing discrimination under the act
, Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
adverse possession must be - ✔✔✔-Open, continuous
Notorious and hostile possession of the property
after default letter is sent - ✔✔✔-equitable right of redemption period begins
Agency - ✔✔✔-Not determined by source of compensation
Created by express agreement between parties and ratification, estoppel, and implication
Agency coupled with an interest - ✔✔✔-Broker agrees to provide financing for condo being
constructed with exclusive right to sell the units
Agent - ✔✔✔-Principal broker of firm
alienation clause - ✔✔✔-aka due on sale clause, call clause, resale clause
amount borrowed - ✔✔✔-discount points on a mortgage are computed as percentage of
Appropriation - ✔✔✔-the way a taxing authority authorizes the expenditure of funds and
provides for the source of the funding
appurtenant easement - ✔✔✔-Runs with the land
Asbestos - ✔✔✔-A mineral once used in insulation and other materials that can cause
respiratory diseases.
Answers – 100% Solved
1 year - ✔✔✔-complaint regarding a violation of FHA must be brought by
1 year - ✔✔✔-time limit to file a complaint with HUD
10 - ✔✔✔-if a licensee moves to a new residence you have this many days to notify the
commission
10 million - ✔✔✔-annual reporting by lenders with assets greater than
11,000 - ✔✔✔-fine for first violation of FHA could be as much as
12 - ✔✔✔-FRS consists of ___ federal reserve district banks
120 days - ✔✔✔-Law judge has ___ to commence a hearing on charges filed
15 - ✔✔✔-Companies with ___ or more employees must make reasonable accomondations
1978 - ✔✔✔-asbestos banned in insulation
1996 - ✔✔✔-manufacture of CFCs ended in
2 years - ✔✔✔-aggrieved party may bring private enforcement action in court for
20 days - ✔✔✔-to file an answer to a complaint from the commission
20,000 - ✔✔✔-max amount of recovery fund
,Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
20% - ✔✔✔-percentage of commercial properties that contain asbestos
200 - ✔✔✔-More than ___ deaths occur from carbon monoxide poisoning
29.5 years - ✔✔✔-current term for straight line depreciation for residential properties
3 - ✔✔✔-Deed of trust is a ___ party instrument used in place of a mortgage
3 - ✔✔✔-Under the truth in lending act, if a borrower secures a loan with residence she
has______ days to rescind
3 categories of discrimination - ✔✔✔-direct discrimination, reasonable modification and
reasonable accommodation
30 days - ✔✔✔-landlord must wait this long before removing the deposit and applying the
money to the unpaid rent
30 days - ✔✔✔-parties have __ to appeal case to appropriate fed court of appeals
39 years - ✔✔✔-straight line depreciation for commercial properties
4 - ✔✔✔-commission cannot have more than ___ members from one political party
4 - ✔✔✔-rentals with ___ or less units are exempt from FHA if owner lives there
,Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
48 hours - ✔✔✔-new licensee must complete ___ in post license ed
50,000 - ✔✔✔-Commission can pay ___ from recovery fund
50,000 ; 100,000 - ✔✔✔-____ first offense and up to ____ for subsequent violation
6 - ✔✔✔-kids under the age of ___ are most vulnerable to lead based poisoning
60 days - ✔✔✔-how long does a licensee have to send the owner final accounting after an a
managing agreement is terminated?
7 members of commission - ✔✔✔-6 broker and 1 consumer
75% - ✔✔✔-of homes built before 1978 have lead base paint
95% - ✔✔✔-A reit doesnt have to pay corporate income tax as long as ___ of income is
distributed
Accession - ✔✔✔-Acquiring title to additions or improvements to real property as a result of a
lease ending
acre - ✔✔✔-43560 square foot
ad valorem taxes - ✔✔✔-boat or car taxes are not real estate taxes, they are
administrative enforcement, attorney general litigation and private litigation - ✔✔✔-3 avenues
for redressing housing discrimination under the act
, Perry Real Estate College Final Complete Exam with Questions and Smart
Answers – 100% Solved
adverse possession must be - ✔✔✔-Open, continuous
Notorious and hostile possession of the property
after default letter is sent - ✔✔✔-equitable right of redemption period begins
Agency - ✔✔✔-Not determined by source of compensation
Created by express agreement between parties and ratification, estoppel, and implication
Agency coupled with an interest - ✔✔✔-Broker agrees to provide financing for condo being
constructed with exclusive right to sell the units
Agent - ✔✔✔-Principal broker of firm
alienation clause - ✔✔✔-aka due on sale clause, call clause, resale clause
amount borrowed - ✔✔✔-discount points on a mortgage are computed as percentage of
Appropriation - ✔✔✔-the way a taxing authority authorizes the expenditure of funds and
provides for the source of the funding
appurtenant easement - ✔✔✔-Runs with the land
Asbestos - ✔✔✔-A mineral once used in insulation and other materials that can cause
respiratory diseases.
