ACEABLE AGENT EXAM REVIEW COMPLETE QUESTIONS AND VERIFIED CORRECT ANSWERS

ACEABLE AGENT EXAM REVIEW
COMPLETE QUESTIONS AND VERIFIED
CORRECT ANSWERS

●● Tenant
Answer: one who possesses a property under a lease without ownership


●● Broker
Answer: someone who assists in buying and selling to receive a
commission


●● Client
Answer: a person or company that buys or leases any product or service


●● Land
Answer: the surface of the earth, extending down to the center of the
earth and up into space


●● Real Estate
Answer: includes the land and any natural or manmade improvements
attached to it

, ●● Real Property
Answer: includes land and any natural or manmade improvements
attached to it, plus the bundle of legal rights of ownership


●● Personal Property
Answer: items that can easily be removed from the land


●● Immobility
Answer: characteristic of land stating that land has a particular
geographical location that will remain constant, barring erosion or slow,
geological changes


●● Real Estate Broker
Answer: a person or corporation who markets to find buyers and sellers
to put together in exchange for a commission


●● Broker's Price Opinion (BPO)
Answer: a broker's price opinion is the process used by a hired sales
agent to determine the potential selling price or estimated value of a real
estate property


●● Closing
Answer: the completion of a real estate transaction in which the buyer
receives ownership and the seller receives the contract amount