A purchase contract to buy real estate is in escrow, the status would be?
A. executed
B. void
C. unilateral
D. executory
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D. executory
Which of the following shoes the best relationship between testate and intestate?
A. Will - Administrator
B. No will - Executrix
C. Executor - Will
D. Administratix - Executor
,Give this one a try later!
A. Will - Administrator
An alumnus of a school donated land to the school to be used only for sports. What
type of ownership does the school have?
A. fee simple absolute
B. defeasible fee (fee simple on condition subsequent)
C. leasehold estate
D. reversionary estate
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B. defeasible fee (fee simple on condition subsequent)
A broker is hired by a seller to sell the client's real property. The broker must obey
which of the following?
A. the concept of buyer beware
B. all lawful instructions of the client
C. all of the buyer's instructions
D. full disclosure to the buyer of any and all information
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B. all lawful instruction of the client
,Which of the following is NOT a security instrument?
A. note
B. deed of trust
C. mortgage
D. agreement for sale
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A. note
The S 1/2 of the E 1/2 of the SE 1/4 of section 4 and the W 1/2 of the SW 1/4 of the NW
1/4 of section 5 contains?
A. 20 acres
B. 40 acres
C. 60 acres
D. 80 acres
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C. 60 acres
#14 on page 45 for explanation
Brokers are not required to maintain a trust account unless they are engaged in
property management...
TRUE
FALSE
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TRUE
When appraising land, the best approach would be:
A. conformity
B. income
C. cost
D. market
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D. market
B expects a return of 8% on his investments and is considering a property with an
asking price of $670,000. The records show a potential income of $6,200 a month,
expenses of $1,500 a month, and a vacancy factor of 10%. With this information in
mind, what would be the estimate of value?
A. $137,000
B. $343,250
C. $612,000
D. $818,250
Give this one a try later!
C. $612,000
#12 on page 45 for explanation
A. executed
B. void
C. unilateral
D. executory
Give this one a try later!
D. executory
Which of the following shoes the best relationship between testate and intestate?
A. Will - Administrator
B. No will - Executrix
C. Executor - Will
D. Administratix - Executor
,Give this one a try later!
A. Will - Administrator
An alumnus of a school donated land to the school to be used only for sports. What
type of ownership does the school have?
A. fee simple absolute
B. defeasible fee (fee simple on condition subsequent)
C. leasehold estate
D. reversionary estate
Give this one a try later!
B. defeasible fee (fee simple on condition subsequent)
A broker is hired by a seller to sell the client's real property. The broker must obey
which of the following?
A. the concept of buyer beware
B. all lawful instructions of the client
C. all of the buyer's instructions
D. full disclosure to the buyer of any and all information
Give this one a try later!
B. all lawful instruction of the client
,Which of the following is NOT a security instrument?
A. note
B. deed of trust
C. mortgage
D. agreement for sale
Give this one a try later!
A. note
The S 1/2 of the E 1/2 of the SE 1/4 of section 4 and the W 1/2 of the SW 1/4 of the NW
1/4 of section 5 contains?
A. 20 acres
B. 40 acres
C. 60 acres
D. 80 acres
Give this one a try later!
C. 60 acres
#14 on page 45 for explanation
Brokers are not required to maintain a trust account unless they are engaged in
property management...
TRUE
FALSE
, Give this one a try later!
TRUE
When appraising land, the best approach would be:
A. conformity
B. income
C. cost
D. market
Give this one a try later!
D. market
B expects a return of 8% on his investments and is considering a property with an
asking price of $670,000. The records show a potential income of $6,200 a month,
expenses of $1,500 a month, and a vacancy factor of 10%. With this information in
mind, what would be the estimate of value?
A. $137,000
B. $343,250
C. $612,000
D. $818,250
Give this one a try later!
C. $612,000
#12 on page 45 for explanation
