CONTAINS EXAMS FROM THE FOLLOWING: NJ REAL ESTATE/ OREGON REAL ESTATE/ CHAMPIONS REAL ESTATE/ GOLD COAST REAL ESTATE. ALL THE BEST IN YOUR STUDIES!!!
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What is Farming? - CORRECT ANS Agent dominates specific area/neighborhood/town Also known as door to door. What are the three areas sales associates must be experts in? - CORRECT ANS Must be experts in Valuation, Marketing, and Property Transfer What key knowledge must you have to be inv...
Voorbeeld 1 van de 3 pagina's
In winkelwagenWhat is Farming? - CORRECT ANS Agent dominates specific area/neighborhood/town Also known as door to door. What are the three areas sales associates must be experts in? - CORRECT ANS Must be experts in Valuation, Marketing, and Property Transfer What key knowledge must you have to be inv...
Tract building - CORRECT ANS When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level - CORRECT ANS Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a...
Voorbeeld 2 van de 12 pagina's
In winkelwagenTract building - CORRECT ANS When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level - CORRECT ANS Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a...
1. The real estate market is local in nature what does that mean? - CORRECT ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EX...
Voorbeeld 3 van de 17 pagina's
In winkelwagen1. The real estate market is local in nature what does that mean? - CORRECT ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EX...
Realtor- CORRECT ANSWER 100 test A 40,000 mortgage for a term of 20 years was originated at an 8%interest rate,with monthly mortgage payments of 334.58 what is the principal balance remaining after the second monthly payment ?- CORRECT ANSWER $39,863.72 If the price of a lot $9 per squar...
Voorbeeld 1 van de 2 pagina's
In winkelwagenRealtor- CORRECT ANSWER 100 test A 40,000 mortgage for a term of 20 years was originated at an 8%interest rate,with monthly mortgage payments of 334.58 what is the principal balance remaining after the second monthly payment ?- CORRECT ANSWER $39,863.72 If the price of a lot $9 per squar...
Real Estate Brokerage (Ch. 1) - CORRECT ANSWER A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - CORRECT ANSWER concentrating on one type or style of property in one particular area of neighborhood Prop...
Voorbeeld 2 van de 10 pagina's
In winkelwagenReal Estate Brokerage (Ch. 1) - CORRECT ANSWER A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - CORRECT ANSWER concentrating on one type or style of property in one particular area of neighborhood Prop...
Real Estate Brokerage (Ch. 1) - CORRECT ANSWER A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - CORRECT ANSWER concentrating on one type or style of property in one particular area of neighborhood Prop...
Voorbeeld 2 van de 10 pagina's
In winkelwagenReal Estate Brokerage (Ch. 1) - CORRECT ANSWER A business in which real estate-related activities are performed under the authority of a licensed real estate broker Farming (Ch. 1) - CORRECT ANSWER concentrating on one type or style of property in one particular area of neighborhood Prop...
Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to cont...
Voorbeeld 4 van de 42 pagina's
In winkelwagenWhich statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to cont...
mortgage Broker - CORRECT ANSWER Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - CORRECT ANSWER Provide their own funds for the purpose of providing mortgage financing Correspon...
Voorbeeld 2 van de 7 pagina's
In winkelwagenmortgage Broker - CORRECT ANSWER Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - CORRECT ANSWER Provide their own funds for the purpose of providing mortgage financing Correspon...
_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - CORRECT ANSWER Closing The primary determinants of real estate values are supply and _____. - CORRECT ANSWER De...
Voorbeeld 1 van de 3 pagina's
In winkelwagen_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - CORRECT ANSWER Closing The primary determinants of real estate values are supply and _____. - CORRECT ANSWER De...
Loan-to-Value Ratio (LTV) - CORRECT ANSWER The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Pac...
Voorbeeld 2 van de 12 pagina's
In winkelwagenLoan-to-Value Ratio (LTV) - CORRECT ANSWER The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Pac...
A branch office registration is necessary to use a: I. Model unit, available for sale, in a subdivision for promotion of interest in the development. II. Temporary structure for dissemination of information. - CORRECT ANS Neither I nor II A person can work as a secretary in a real estate o...
Voorbeeld 2 van de 9 pagina's
In winkelwagenA branch office registration is necessary to use a: I. Model unit, available for sale, in a subdivision for promotion of interest in the development. II. Temporary structure for dissemination of information. - CORRECT ANS Neither I nor II A person can work as a secretary in a real estate o...
How many days notice must The Agency provide before performing a compliance review? - CORRECT ANS 5 days How long can a real estate broker's license be expired before it lapses? - CORRECT ANS 1 year who is not allowed to be an authorized signer on a property management trust account? - ...
Voorbeeld 2 van de 5 pagina's
In winkelwagenHow many days notice must The Agency provide before performing a compliance review? - CORRECT ANS 5 days How long can a real estate broker's license be expired before it lapses? - CORRECT ANS 1 year who is not allowed to be an authorized signer on a property management trust account? - ...
The purpose of laws that provide for property to escheat to the state or county when a landowner dies with no will and no heirs is to 1. save the cost of a judicial claims process. 2. provide an additional source of revenues to the state or county. 3. prevent property from being ownerless. 4. ...
Voorbeeld 4 van de 38 pagina's
In winkelwagenThe purpose of laws that provide for property to escheat to the state or county when a landowner dies with no will and no heirs is to 1. save the cost of a judicial claims process. 2. provide an additional source of revenues to the state or county. 3. prevent property from being ownerless. 4. ...
Owner Reports - CORRECT ANS A property manager is obligated to give an accounting of an owner's property. The reports are usually given per month and an annual report. Reconciliation - CORRECT ANS A balance and reconciliation of the company's receipt and disbursement journal, company ...
Voorbeeld 4 van de 88 pagina's
In winkelwagenOwner Reports - CORRECT ANS A property manager is obligated to give an accounting of an owner's property. The reports are usually given per month and an annual report. Reconciliation - CORRECT ANS A balance and reconciliation of the company's receipt and disbursement journal, company ...
An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have...
Voorbeeld 4 van de 41 pagina's
In winkelwagenAn unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have...
The Real Estate Commissioner: - CORRECT ANS Is appointed by the governor, Administers the Real Estate Law, Can suspend or revoke a real estate license The Real Estate law exempts some people from needing a real estate license, which of the following are not exempt: - CORRECT ANS Any p...
Voorbeeld 2 van de 14 pagina's
In winkelwagenThe Real Estate Commissioner: - CORRECT ANS Is appointed by the governor, Administers the Real Estate Law, Can suspend or revoke a real estate license The Real Estate law exempts some people from needing a real estate license, which of the following are not exempt: - CORRECT ANS Any p...
Real Property - CORRECT ANS Is immovable composed of land and the rights that go along with land such as easement, rents, profits, and all man made things attached to land Personal Property - CORRECT ANS Movable and essentially opposite of real property Fixtures - CORRECT ANS A f...
Voorbeeld 3 van de 22 pagina's
In winkelwagenReal Property - CORRECT ANS Is immovable composed of land and the rights that go along with land such as easement, rents, profits, and all man made things attached to land Personal Property - CORRECT ANS Movable and essentially opposite of real property Fixtures - CORRECT ANS A f...
The buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: - CORRECT ANS give the buyer the website address so the buyer can look up that information A developer intends to subdivide a large parcel of land and is in the process of lan...
Voorbeeld 3 van de 22 pagina's
In winkelwagenThe buyer asks if there are any sex offenders in the neighborhood. The agent's MOST appropriate response would be to: - CORRECT ANS give the buyer the website address so the buyer can look up that information A developer intends to subdivide a large parcel of land and is in the process of lan...
Why is there a high demand for property managers in Florida? - CORRECT ANSWER Absentee owners One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known...
Voorbeeld 3 van de 18 pagina's
In winkelwagenWhy is there a high demand for property managers in Florida? - CORRECT ANSWER Absentee owners One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known...
Primary Mortgage Market - CORRECT ANSWER Where lenders originate mortgage loans by lending funds directly to borrowers. Mortgage Broker - CORRECT ANSWER A person who brings borrowers and lenders together for a real estate loan. Mortgage Banker - CORRECT ANSWER A person who origin...
Voorbeeld 3 van de 20 pagina's
In winkelwagenPrimary Mortgage Market - CORRECT ANSWER Where lenders originate mortgage loans by lending funds directly to borrowers. Mortgage Broker - CORRECT ANSWER A person who brings borrowers and lenders together for a real estate loan. Mortgage Banker - CORRECT ANSWER A person who origin...
Contract - CORRECT ANSWER *agreement between two or morew competent parties based upon legal consideration that creates duties and obligations that are legally enforceable. 4 elements required for a contract - CORRECT ANSWER *Competent Parties *Legal (or lawful) object or purpose *Agr...
Voorbeeld 2 van de 9 pagina's
In winkelwagenContract - CORRECT ANSWER *agreement between two or morew competent parties based upon legal consideration that creates duties and obligations that are legally enforceable. 4 elements required for a contract - CORRECT ANSWER *Competent Parties *Legal (or lawful) object or purpose *Agr...
When an easement appurtenant exists between two parcels of land that are owned by different owners: a. the servient tenement is given the right to cross the land of the dominant tenement. b. the dominant tenement is burdened by the easement. c. the servient tenement can revoke the use of the ea...
Voorbeeld 4 van de 52 pagina's
In winkelwagenWhen an easement appurtenant exists between two parcels of land that are owned by different owners: a. the servient tenement is given the right to cross the land of the dominant tenement. b. the dominant tenement is burdened by the easement. c. the servient tenement can revoke the use of the ea...
Constructive eviction - CORRECT ANSWER Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance - CORRECT ANSWER Mutual agreement to terminate lease The residential landlord and tenant act - ...
Voorbeeld 3 van de 16 pagina's
In winkelwagenConstructive eviction - CORRECT ANSWER Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance - CORRECT ANSWER Mutual agreement to terminate lease The residential landlord and tenant act - ...
Oregon Real Estate (State) Agency - CORRECT ANSWER The Oregon Real Estate Agency is a state government agency. It licenses real estate brokers, principal brokers and property managers. The Agency administers the laws and rules that apply to people who conduct professional real estate activity ...
Voorbeeld 1 van de 12 pagina's
In winkelwagenOregon Real Estate (State) Agency - CORRECT ANSWER The Oregon Real Estate Agency is a state government agency. It licenses real estate brokers, principal brokers and property managers. The Agency administers the laws and rules that apply to people who conduct professional real estate activity ...
At least that goes month to month is known as - CORRECT ANSWER an state from period to period Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments, plus 9% interest. in this case what is the monthly interest in the first month - CORRECT ANSWER $225 1st you take ...
Voorbeeld 3 van de 18 pagina's
In winkelwagenAt least that goes month to month is known as - CORRECT ANSWER an state from period to period Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments, plus 9% interest. in this case what is the monthly interest in the first month - CORRECT ANSWER $225 1st you take ...
1. Which feature below does not pertain to energy efficiency? a. Energy Star® appliances b. Increased insulation in walls and roof c. Efficient heating and cooling equipment d. Shag carpets and marble countertops - CORRECT ANS d. Shag carpets and marble countertops 2. What protects real...
Voorbeeld 3 van de 24 pagina's
In winkelwagen1. Which feature below does not pertain to energy efficiency? a. Energy Star® appliances b. Increased insulation in walls and roof c. Efficient heating and cooling equipment d. Shag carpets and marble countertops - CORRECT ANS d. Shag carpets and marble countertops 2. What protects real...
A branch office registration is necessary to use a: I. Model unit, available for sale, in a subdivision for promotion of interest in the development. II. Temporary structure for dissemination of information. - CORRECT ANS Neither I nor II A person can work as a secretary in a real estate of...
Voorbeeld 2 van de 9 pagina's
In winkelwagenA branch office registration is necessary to use a: I. Model unit, available for sale, in a subdivision for promotion of interest in the development. II. Temporary structure for dissemination of information. - CORRECT ANS Neither I nor II A person can work as a secretary in a real estate of...
If a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be? a) $750 b) $1,500 c) $7,500 d) $15,000 - CORRECT ANSWER d) $15,000 A lot measuring 240' by 400' is selling for $400 a front foot. What is the price? a) $1,600 b) $16,000 c) ...
Voorbeeld 3 van de 16 pagina's
In winkelwagenIf a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be? a) $750 b) $1,500 c) $7,500 d) $15,000 - CORRECT ANSWER d) $15,000 A lot measuring 240' by 400' is selling for $400 a front foot. What is the price? a) $1,600 b) $16,000 c) ...
Broker - CORRECT ANSWER Individual licensed to charge the public for real estate services Broker-Salesperson - CORRECT ANSWER fully qualified broker who remains under another broker's supervision Bureau of Subdivided Land Sales Control - CORRECT ANSWER state agency that approves...
Voorbeeld 3 van de 22 pagina's
In winkelwagenBroker - CORRECT ANSWER Individual licensed to charge the public for real estate services Broker-Salesperson - CORRECT ANSWER fully qualified broker who remains under another broker's supervision Bureau of Subdivided Land Sales Control - CORRECT ANSWER state agency that approves...
If a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be? a) $750 b) $1,500 c) $7,500 d) $15,000 - ANSWER d A lot measuring 240' by 400' is selling for $400 a front foot. What is the price? a) $1,600 b) $16,000 c) $72,000 d) $96,0...
Voorbeeld 2 van de 15 pagina's
In winkelwagenIf a broker is expecting to receive 6% commission on a sale of $250,000 house, what will the commission be? a) $750 b) $1,500 c) $7,500 d) $15,000 - ANSWER d A lot measuring 240' by 400' is selling for $400 a front foot. What is the price? a) $1,600 b) $16,000 c) $72,000 d) $96,0...
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