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All of the following are real property EXCEPT - ANSWER-A Portable Basketball hoop A metes and bounds description of real property relies on - ANSWER-A point of beginning, measurement of distances, and directions on a compass Fee simple ownership describes - ANSWER-Current ownership A life estate interest describes - ANSWER-Future ownership Which of the following statements about Susan, the tenant of a life estate, is TRUE? - ANSWER-She may sell her interest to Phillip, who would then...

What is a branch office? - ANSWER-A location where business is regularly conducted or that is advertised as where the public may contact the agency. How old must you be to apply for a real estate license in Maine? - ANSWER-18 What is the maximum fine that LUPC can impose for a violation? - ANSWER-$10k per day Shoreland areas include area within how many feet of the normal high-water line of great pond? - ANSWER-250 feet how many hours must you attend classroom training in order to ap...

For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. C. A former licensee who is not actively engaged in the practice of real...

Fixture - ANSWER-An object that has been attached to land so as to become real estate. An article of personal property which has been installed in or attached to land or a building thereon, in such a manner that it is now considered to be a part of the real estate. Improvements - ANSWER-Beneficial attachments to raw land that increase its value or improve its usefulness. Meridians - ANSWER-Imaginary north-south lines which intersect base lines to form a starting point for the measurement ...

Section 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. Oversee audits and continuing education of practicing licensees - ANSWER-C. Promote public confidence in the real estate industry The industry members on the Maine Real Estate Commission are: a. Ci...

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Anti-Trust - ANSWER-An area of law concerned with maintaining competition in private markets by prohibiting any restraint on trade. Georgia Real Estate Commission - ANSWER-Pass rules and regulations that govern real estate licensees Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) - ANSWER-A federal law enacted by Congress in 1980 to create a tax on the chemical and petroleum industries and provided broad authority to respond directly to releases or threatened...

When you list an owner's property for sale you owe them client level services, fiduciary services which include - ANSWER-confidentiality, loyalty, obedience, full disclosure a recent appraisal on a property reveals that a home has a leaking roof, dirty carpeting, updated granite countertops, central heat and air, a full basement, but the home is affected by a busy highway. What type of depreciation does it suffer from? - ANSWER-physical depreciation due to the roof and carpet and economic du...

Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16 - ANSWER-B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in Real Estate Transactions Act - ANSWER-C. The Georgia Real Estate Commission is composed of: a. Three brokers, two salespersons, and a district representative and a representative of the public at ...

Based on the ability to accept assignments, which appraiser has the most latitude? - ANSWER-certified general Which state agency is responsible for the implementation of the Georgia Lead Paint Prevention Act of 1994? - ANSWER-GA Dept of Natural Resources How far back does a normal Georgia title search go? - ANSWER-50 years A Georgia fee or tax imposed on the recording of a warranty deed is - ANSWER-transfer tax Real property legal descriptions in Georgia can NOT be based on - ANSWER-...