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PSI National Exam for Real Estate Unit Exam 14 ICBC Class 4
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An unlicensed personal assistant Deposit earnest money in the escrow account
may perform which activity?
What is the continuing Active licensees and inactive licensees are required to complete
education requirement of a sales at least 14 hours of continuing education during every two-year
associate after the licensee has license period.
completed the post-licensing
education requirement during
the initial license period?
The purchase price of a $90,000
property is $500,000. The
buyer's financials are as follows:
The buyer put $50,000 in
escrow.
The buyer has $50,000 of his
own money.
The buyer is assuming the
seller's mortgage of $85,000
The buyer is acquiring a new
mortgage of $225,000
The buyer has decided to ask
the seller to take back a
mortgage. How much would the
mortgage be if the seller takes
back a purchase money
mortgage from the buyer?
Mortgage between a seller and buyer. The seller takes back a
Purchase money mortgage
purchase money mortgage, because the seller is the mortgagee.