Our real estate exam prep comes with over 500 practice real estate exam questions, and 450 vocabulary test questions with detailed answer explanations, up … What is the most reliable method of appraisal for residential real estate? An agreement between the owner and broker. 2. Free study quizlet sets for the Humber Real Estate Salesperson Program, helping you become a real estate agent in Ontario. Is special price setting allowed for certain categories of people? a type of listing in which a seller desires to sell real property and receive a guaranteed amount of money for the sale, so that the broker's commission is any sale price amount of money over and above the guaranteed price to the seller. They are commonly found on Adjustable Rate Mortgages (ARM). Real estate is said to be a fairly simple business, but not an easy one. 32. 13. What is a mortgage that will not fully amortize the loan? consolidating two separate lots into one. Method of attachment... 3. What is not an example of a real estate business violation of the antitrust laws? The rights to use the space above the earth may be sold or leased independently, provided the rights have not been limited by law. What does the C stand for in the fiduciary dities. 41. What is an example of external depreciation? 11. the process of determining the present value of a property from it's future income. What is the PA law that prohibits discrimination in housing? The following are examples of agricultural property except... 68. We’ve seen our students get results time and time again so we’re proud to stand behind our content. Usually written into a mortgage to allow the lender to acceler…, The value of the real property established for tax purposes. Quickly memorize the terms, phrases and much more. 26. (OLD PERSON COMMUNITY SCENERIO). 94. Real Estate Express, $225... 1st you take $30000 in multiply it by 9% for the total a…, []A square normally 1 mile on a side.... []The Land Ordinance of…, air,water, land and everything affixed to it, Transfer, Exchange, Exclude, Use, Possess (TEE UP), immobility, indestructibility, and heterogeneity, demand, utility, scarcity, transferability, situs (DUSTS), Hold the money until both parties (or their lawyers) provide a…, Yes, any defects known to the broker should have been disclose…, Contract containing ONE promise given in exchange for completi…, Contract containing TWO promises. Pearson VUE offers Broker and Sales practice tests for $19.95. Selling agent represents who in a single agency listing agreement? In a comparison between a land contract and a purchase money mortgage which is true? What is a type of depreciation that is not curable? Abstract of Title A summary of the instruments affecting title to a parcel of real property as shown by the public records. What is an example of functional obsolescence? What is the formula for the Gross Rent Multiplier? 15. A CMA is not an appraisal - and should n…, protect the lender due to the low down payments made by FHA bo…. 44. 40. Cards Return to Set Details. Exclusive Right to Sell Listing definition... A type of listing to list and sell real estate property in which the seller employs one broker but that broker earns a commission "no matter who sells the property including the owner". All are examples of single agency disclosures with the exception of. Nearby property that suffers from lack of maintenance and is negatively affecting the sellers property. What are the conditions to when an agreement of sale becomes a binding contract? Typically who pays for title insurance? Our online school offers everything you need to know to become a successful real estate agent today and ace your exam with confidence! To simulate the actual exam, try our New York Real Estate Salesperson Practice Exam. Choose from 500 different sets of nj real estate flashcards on Quizlet. Must sign an affidavit saying that they intend to occupy the property. At the first discussion of needs and motivation. 34. The opportunities for success are limitless. Relationship to parties... 2. 51. Let AceableAgent be your real estate school and guide you through the first steps in obtaining your real estate license! Don't rely on the outdated material on other real estate practice exam sites. The mortgage amount relative to the property price is called... 97. Obligations of an owner in a listing agreement if he refused to sell when presented with a full offer... 37. Definition. 67. 36. The main factor a property manager should use to evaluate a prospective tenant is. All are federal income tax deductions for a homeowner except... 74. 52. Who does a selling salesperson represent under buyer agency? 49. What is the salespersons obligation to a buyer under single agency listing? 54. The actual exam has 120 questions and you are given 4 hours to complete it. What should you do about material defect disclosures? 50. It protects the lender if their is default. In general, you should expect your real estate licensing exam to be around 100-150 multiple choice questions; this includes about 60-80 state-specific questions, and about 80-100 questions related to generally universal real estate concepts. Real Estate Exam Things to Remember (62 cards) 2020-09-03 8 Real Estate Key Concepts (39 cards) 2020-08-15 8 All about Financing including: mortgages, deeds of … the type of agency in which the principal authorizes the agent to represent the agent in "one specific transaction or business activity". What rules require fair housing laws to be in a listing contract? Intent o…, Final Exam: Real Estate What is the transfer tax charged by the state of PA? new york real estate Classes. Term. a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. Real Estate Practice Tests. Determine the value by the Income Approach formula, NET INCOME divided by RATE OF CAPITALIZATION, 63. 3. Example: A listing agreement…, A person who has entered into an agency relationship w/ a lice…, C) Sales involving one-to four-family dwellings, except for sp…, Individual licensed to charge the public for real estate servi…, fully qualified broker who remains under another broker's supe…, state agency that approves and registers some out-of-state pro…, Terminates an agency relationship where a broker represented a…, A tool for licensees. 80. See what they are achieving. 62. This course serves as the requisite 15-hour course for Salespersons licensed in a state whose pre-licensing requirements is less than New Jersey's 75-hour required in-classroom education; and who wish to obtain a New Jersey Salesperson’s license. View Test Prep - Real Estate Flashcards | Quizlet from REAL ESTAT 101 at University of Southern Mississippi. A veteran real estate agent that really knows how to serve you and sell your home A rookie real estate agent because they charge the least Detailed Answer: Even though Dave spent most of his early career in real estate, he wouldn’t think of risking the sale of his home without an expert real estate … But when real-estate values began to decline, much … Real Estate 316 terms Carlylandry `What is the Paired Sales It is to determine the cost of 99. Which is not used to determine cost approach to estimate value? It is the government taking private property for public good. 89. The lender receives a share of capital gain at time of sale.
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