Real estate Exam Questions and Correct
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The confirmation of agency must be in
Answer- writing
3 steps of disclosure
Answer - disclose
- elect
- confirm
The selling agent must confirm agency before
Answer- the buyer makes an offer
Easton
Answer- an agent's duty of inspection and disclosure covers a visual inspection ;
know or should have known defects
The booklet relating to environmental hazards
Answer- must be signed by the buyer
Foreign investment, the IRS withholds
Answer- 15% of the gross sale and 3 1/3 % of the total price to CA state income
tax
Developers and residential sellers Answer- must disclose if property is
within 1 mile of a farming operation
former military ordinance (training grounds)
CA prohibits referral fees from services providers to
Answer- brokers
When loan is denied the creditors must provide a
Answer- statement of adverse reaction
Megan's Law applies to:
Answer- every sale contract of lease 1-4 units
,Real estate Exam Questions and Correct
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Holden Act prohibits
Answer- profinancial institutions from discriminating
Full disclosure means disclosing Answer- all MATERIAL FACTS;
Disclosure should be in writing.
Fudiciary Responsibility Answer-
Loyalty ,
obedience
confidentiality,
disclosure
accounting
The Note states
Answer- original loan amount; interest rate and term (# of payments)
Realists
Answer- The members of the National Association of Real Estate Brokers (NAREB)
Civil Rights Act of 1968: Answer- no steering
no blockbusting - panic selling
no redlining - loans
Sherman Anti-Trust Act made the following illegal Answer-
Price fixing
Market Allocation (to divide market)
Group Boycotting
Tie-in agreements
Brownfields
Answer- soild contamination
Ratification
, Real estate Exam Questions and Correct
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Answer- approval of an act performed without previous authorization
VA mortgage has Answer-
NO Mortgage Insurance
NO Down Payment
NO max debt ration
IT IS Guranteed
The most single person can exlude on the capital gains is:
Answer- $250,000
Fire insurance replacement value
Answer- 80%
A licensed RE agent is a
Answer- sales person and a broker
The IREM is a
Answer- sponsor of the prestigious Certified Property Mgmt designation
1031 "boot" means
Answer- cash or its equivalent in value used to equalize the exchange
Notarizing a grant deed required
Answer- a thumbprint to make it valid.
The National Association of REALTORS was one of the first organization to require
an Answer- an oath to a code of ethics to attain membership
A deed of trust is also called a
Answer- "hypothecation" device
Ranges are numbered
Verified Answers | Guaranteed a+ score
The confirmation of agency must be in
Answer- writing
3 steps of disclosure
Answer - disclose
- elect
- confirm
The selling agent must confirm agency before
Answer- the buyer makes an offer
Easton
Answer- an agent's duty of inspection and disclosure covers a visual inspection ;
know or should have known defects
The booklet relating to environmental hazards
Answer- must be signed by the buyer
Foreign investment, the IRS withholds
Answer- 15% of the gross sale and 3 1/3 % of the total price to CA state income
tax
Developers and residential sellers Answer- must disclose if property is
within 1 mile of a farming operation
former military ordinance (training grounds)
CA prohibits referral fees from services providers to
Answer- brokers
When loan is denied the creditors must provide a
Answer- statement of adverse reaction
Megan's Law applies to:
Answer- every sale contract of lease 1-4 units
,Real estate Exam Questions and Correct
Verified Answers | Guaranteed a+ score
Holden Act prohibits
Answer- profinancial institutions from discriminating
Full disclosure means disclosing Answer- all MATERIAL FACTS;
Disclosure should be in writing.
Fudiciary Responsibility Answer-
Loyalty ,
obedience
confidentiality,
disclosure
accounting
The Note states
Answer- original loan amount; interest rate and term (# of payments)
Realists
Answer- The members of the National Association of Real Estate Brokers (NAREB)
Civil Rights Act of 1968: Answer- no steering
no blockbusting - panic selling
no redlining - loans
Sherman Anti-Trust Act made the following illegal Answer-
Price fixing
Market Allocation (to divide market)
Group Boycotting
Tie-in agreements
Brownfields
Answer- soild contamination
Ratification
, Real estate Exam Questions and Correct
Verified Answers | Guaranteed a+ score
Answer- approval of an act performed without previous authorization
VA mortgage has Answer-
NO Mortgage Insurance
NO Down Payment
NO max debt ration
IT IS Guranteed
The most single person can exlude on the capital gains is:
Answer- $250,000
Fire insurance replacement value
Answer- 80%
A licensed RE agent is a
Answer- sales person and a broker
The IREM is a
Answer- sponsor of the prestigious Certified Property Mgmt designation
1031 "boot" means
Answer- cash or its equivalent in value used to equalize the exchange
Notarizing a grant deed required
Answer- a thumbprint to make it valid.
The National Association of REALTORS was one of the first organization to require
an Answer- an oath to a code of ethics to attain membership
A deed of trust is also called a
Answer- "hypothecation" device
Ranges are numbered
