Real Estate National Exam – Accurate Answers To
All Questions (100%)
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Terms in this set (618)
What is the fundamental purpose of a To ensure the improvements comply with codes.
building permit?
Logically, what does a real estate accountability
commission provide to the public?
A claim that one has failed to carry unprofessional conduct
out fiduciary duties and provide an
acceptable standard of care is what
type of professional liability?
There are two criteria that must be that the ownder is the head of a family and he or she
met to qualify for a homestead resides on the property for a required length of time.
exemption. These are:
A minoridy family would like to buy a steering
home in a certain price range. The
agent shows the family all available
properties in a neighborhood of
families with similar backgrounds. The
agent did not mention a number of
homes in the family's price range in
other neighborhoods. This agent
could be liable for
All of the following are examples of facilities owned by religious organizations even if the
exemptions under The Fair Housing membership requirements are considered
Act, except discriminatory.
,What is the calculation for gross price divided by gross annual income
income multiplier approach?
Which laws or regulations require Truth-in-lending laws
mortgage lenders to disclose
financing costs and annual
percentage rate to a borrower before
funding a loan?
Devika is the beneficiary in an estate in the trustee is a fiduciary and is entrusted with the
trust. The trust agreement expressed managing and holding the estate for Devika, whos is
that the property should be sold. the beneficiary.
Devika wants to sell the property but
in order to hire you she has to get the
trustee to do so because Devika is 17
years old. What is most likely true?
An investor in fifteen diversified bond debt
funds. This is an example of an
investment in
The major sources of real estate law court decisions
are legislation at federal, state and
local level, and
If a deed restriction is a considered a it can only be created within the transfer of
condition, then ownership.
Real estate sales agents are legally represent their employing broker in procuring clients
authorized to and customers.
A construction boom in a market is an have been increasing
indication that prices
If a tenant pays a fixed rent and the gross
landlord pays all property operating
expenses, what type of lease
agreement do they have?
,Which of the following represents the procuring customers for clients and effecting
core activity of real estate brokerage? transactions
If a house is sold for 20,000 dollar, but insufficient consideration
valued at 750,000 dollars, the contract
could be invalidated, What is this an
example of?
The principal mechanism for zoning
implementing a master plan is
A camper affixes a tent to land for two no, because the intention is not of creating a
weeks prior to traveling to another permanent dwelling
location. Can the tent be considered
real estate?
Lender Larry is charging 3 points on a $1,500
50,00 loan. The borrower must
therefore pay lender Larry an advance
amount of
What is generally true regarding the the higher their down payment, the better the
buyer's financing? chances of securing financing due to equity
Compared to a stock portfolio, a real a more management-intensive investment
estate investment would be
considered
Which of the following statements is property tax exemptions may be offered to certain
most accurate? owner classes such as senior citizens, widows, or
disabled individuals.
A buyer and a seller have employed buyer and seller do not need to attend the closing.
an escrow agent to handle a closing.
Which of the following statements is
true?
, In most cases, the real estate special agency
brokerage is based on what kind of
agency.
A grocer temporarily installs special trade fixtures that are personal property
fruit and vegetable coolers in a leased
grocery store in order to prevent
spoilage. The coolers would be
considered which of the following?
Which of the following statements is a township is divided into sections.
most accurate?
In order to sell interests in a obtain a Series 22 securities license.
syndication, an agent must
If a licensed broker has an expired he cannot conduct broker activities
license, what is true regarding his daily
activities?
When the terms of the mortgage loan may be required to execute a release of mortgage
are satisfied, the mortgagee document.
Buyer Bill will receive a utilities bill for a debit to the seller and credit to buyer for $100
an extimated $300 at the end of the
month. At closing, the seller has used
an estimated $100 of the bill. What
should appear on the closing
statement?
The process of enforcing a lien by forelosure
forcing sale of the lienee's property is
called
High levels of risk are usually high levels of returns
associated with:
All Questions (100%)
Save Groups
Terms in this set (618)
What is the fundamental purpose of a To ensure the improvements comply with codes.
building permit?
Logically, what does a real estate accountability
commission provide to the public?
A claim that one has failed to carry unprofessional conduct
out fiduciary duties and provide an
acceptable standard of care is what
type of professional liability?
There are two criteria that must be that the ownder is the head of a family and he or she
met to qualify for a homestead resides on the property for a required length of time.
exemption. These are:
A minoridy family would like to buy a steering
home in a certain price range. The
agent shows the family all available
properties in a neighborhood of
families with similar backgrounds. The
agent did not mention a number of
homes in the family's price range in
other neighborhoods. This agent
could be liable for
All of the following are examples of facilities owned by religious organizations even if the
exemptions under The Fair Housing membership requirements are considered
Act, except discriminatory.
,What is the calculation for gross price divided by gross annual income
income multiplier approach?
Which laws or regulations require Truth-in-lending laws
mortgage lenders to disclose
financing costs and annual
percentage rate to a borrower before
funding a loan?
Devika is the beneficiary in an estate in the trustee is a fiduciary and is entrusted with the
trust. The trust agreement expressed managing and holding the estate for Devika, whos is
that the property should be sold. the beneficiary.
Devika wants to sell the property but
in order to hire you she has to get the
trustee to do so because Devika is 17
years old. What is most likely true?
An investor in fifteen diversified bond debt
funds. This is an example of an
investment in
The major sources of real estate law court decisions
are legislation at federal, state and
local level, and
If a deed restriction is a considered a it can only be created within the transfer of
condition, then ownership.
Real estate sales agents are legally represent their employing broker in procuring clients
authorized to and customers.
A construction boom in a market is an have been increasing
indication that prices
If a tenant pays a fixed rent and the gross
landlord pays all property operating
expenses, what type of lease
agreement do they have?
,Which of the following represents the procuring customers for clients and effecting
core activity of real estate brokerage? transactions
If a house is sold for 20,000 dollar, but insufficient consideration
valued at 750,000 dollars, the contract
could be invalidated, What is this an
example of?
The principal mechanism for zoning
implementing a master plan is
A camper affixes a tent to land for two no, because the intention is not of creating a
weeks prior to traveling to another permanent dwelling
location. Can the tent be considered
real estate?
Lender Larry is charging 3 points on a $1,500
50,00 loan. The borrower must
therefore pay lender Larry an advance
amount of
What is generally true regarding the the higher their down payment, the better the
buyer's financing? chances of securing financing due to equity
Compared to a stock portfolio, a real a more management-intensive investment
estate investment would be
considered
Which of the following statements is property tax exemptions may be offered to certain
most accurate? owner classes such as senior citizens, widows, or
disabled individuals.
A buyer and a seller have employed buyer and seller do not need to attend the closing.
an escrow agent to handle a closing.
Which of the following statements is
true?
, In most cases, the real estate special agency
brokerage is based on what kind of
agency.
A grocer temporarily installs special trade fixtures that are personal property
fruit and vegetable coolers in a leased
grocery store in order to prevent
spoilage. The coolers would be
considered which of the following?
Which of the following statements is a township is divided into sections.
most accurate?
In order to sell interests in a obtain a Series 22 securities license.
syndication, an agent must
If a licensed broker has an expired he cannot conduct broker activities
license, what is true regarding his daily
activities?
When the terms of the mortgage loan may be required to execute a release of mortgage
are satisfied, the mortgagee document.
Buyer Bill will receive a utilities bill for a debit to the seller and credit to buyer for $100
an extimated $300 at the end of the
month. At closing, the seller has used
an estimated $100 of the bill. What
should appear on the closing
statement?
The process of enforcing a lien by forelosure
forcing sale of the lienee's property is
called
High levels of risk are usually high levels of returns
associated with:
