BSRV4601 FUNDAMENTALS OF REAL
ESTATE 2 APPENDIX CERTIFICATION
SCRIPT 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◍ Equitable title is?.
Answer: An interest in real property created by the execution of a valid sales
contract.
◍ A lease executed by a minor lessor is?.
Answer: Voidable by the landlord only
◍ Satisfaction of Mortgage.
Answer: A document acknowledging the payment of a mortgage debt.
◍ Quitclaim Deed.
Answer: A deed which conveys simply the grantor's rights or interest in real
estate,without any agreement or covenant as to the nature or extent of that
interest, or any other covenants; usually used to remove a cloud from the
title.
◍ Stud.
Answer: Vertical framing members found in wall construction. Typically
placed 12", 16" or 24" on center.
◍ What tax will the seller pay for transferring title to real property?.
Answer: Conveyance tax
◍ Dies inestate=.
Answer: Administrator
◍ Tax Shelter.
, Answer: Any method of reducing taxable income resulting in a reduction of
the payments to tax collecting entities, including state and federal
governments.
◍ Brown vs. Board of Education.
Answer: Determined that separate is NOT equal.
◍ Common Charges.
Answer: Monthly payment by an owner of a condominium.
◍ Amortization.
Answer: The process by which a loan principal decreases over the life of a
loan.
◍ Express Contract.
Answer: A contract in which all elements of a contract are specifically stated
(offer, acceptance, consideration).
◍ Property Management Report.
Answer: An accounting report issued periodically by the propertymanager to
the owner outlining all income and expenditures for that accounting period.
◍ Share in a Cooperative Unit.
Answer: Considered a proprietary lease and personal property (NOT
realproperty).
◍ What causes termination of a real estate contract?.
Answer: Completion
◍ Adjustable rate mortgage (ARM).
Answer: A mortgage loan with the interest rate on the noteperiodically
adjusted based on an index which reflects the cost to the lender of borrowing
on the credit markets.
◍ A lawsuit for reverse condemnation may be brought by the?.
Answer: Homeowner
◍ What is equitable right of redemption?.
Answer: Homeowner getting back their house by paying all debts prior to
, foreclosure
◍ Misdemeanor.
Answer: A crime punishable by up to a year in prison and/or a $1,000 fine.
◍ Levy.
Answer: An assessment of tax.
◍ A borrower has defaulted on the mortgage. The mortgage contains an
acceleration clause. This permits the lender to?.
Answer: Demand immediate payment of the entire note
◍ A property management account?.
Answer: Can earn interest
◍ According to Fannie Mae and Freddie Mac standards, how much of a
borrowers income can be dedicated to housing expenses for a conventional
loan?.
Answer: 28percent
◍ The Offering Plan.
Answer: A key document provided during the purchase of a cooperative,
which includes information required to be disclosed to the purchaser.
◍ A competitive market analysis is performed when?.
Answer: Pricing property
◍ Essential Element of a Contract.
Answer: 1) Consideration2) Must be in writing3) Must have competent
parties
◍ Bond Beam.
Answer: Concrete set in soil
◍ Sales comparison approach.
Answer: Valuation method which compares a subject
property'scharacteristics with those of comparable properties which have
recently sold in similar transactions
ESTATE 2 APPENDIX CERTIFICATION
SCRIPT 2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◍ Equitable title is?.
Answer: An interest in real property created by the execution of a valid sales
contract.
◍ A lease executed by a minor lessor is?.
Answer: Voidable by the landlord only
◍ Satisfaction of Mortgage.
Answer: A document acknowledging the payment of a mortgage debt.
◍ Quitclaim Deed.
Answer: A deed which conveys simply the grantor's rights or interest in real
estate,without any agreement or covenant as to the nature or extent of that
interest, or any other covenants; usually used to remove a cloud from the
title.
◍ Stud.
Answer: Vertical framing members found in wall construction. Typically
placed 12", 16" or 24" on center.
◍ What tax will the seller pay for transferring title to real property?.
Answer: Conveyance tax
◍ Dies inestate=.
Answer: Administrator
◍ Tax Shelter.
, Answer: Any method of reducing taxable income resulting in a reduction of
the payments to tax collecting entities, including state and federal
governments.
◍ Brown vs. Board of Education.
Answer: Determined that separate is NOT equal.
◍ Common Charges.
Answer: Monthly payment by an owner of a condominium.
◍ Amortization.
Answer: The process by which a loan principal decreases over the life of a
loan.
◍ Express Contract.
Answer: A contract in which all elements of a contract are specifically stated
(offer, acceptance, consideration).
◍ Property Management Report.
Answer: An accounting report issued periodically by the propertymanager to
the owner outlining all income and expenditures for that accounting period.
◍ Share in a Cooperative Unit.
Answer: Considered a proprietary lease and personal property (NOT
realproperty).
◍ What causes termination of a real estate contract?.
Answer: Completion
◍ Adjustable rate mortgage (ARM).
Answer: A mortgage loan with the interest rate on the noteperiodically
adjusted based on an index which reflects the cost to the lender of borrowing
on the credit markets.
◍ A lawsuit for reverse condemnation may be brought by the?.
Answer: Homeowner
◍ What is equitable right of redemption?.
Answer: Homeowner getting back their house by paying all debts prior to
, foreclosure
◍ Misdemeanor.
Answer: A crime punishable by up to a year in prison and/or a $1,000 fine.
◍ Levy.
Answer: An assessment of tax.
◍ A borrower has defaulted on the mortgage. The mortgage contains an
acceleration clause. This permits the lender to?.
Answer: Demand immediate payment of the entire note
◍ A property management account?.
Answer: Can earn interest
◍ According to Fannie Mae and Freddie Mac standards, how much of a
borrowers income can be dedicated to housing expenses for a conventional
loan?.
Answer: 28percent
◍ The Offering Plan.
Answer: A key document provided during the purchase of a cooperative,
which includes information required to be disclosed to the purchaser.
◍ A competitive market analysis is performed when?.
Answer: Pricing property
◍ Essential Element of a Contract.
Answer: 1) Consideration2) Must be in writing3) Must have competent
parties
◍ Bond Beam.
Answer: Concrete set in soil
◍ Sales comparison approach.
Answer: Valuation method which compares a subject
property'scharacteristics with those of comparable properties which have
recently sold in similar transactions
