Aceable Agent - Principles of Real Estate BUNDLED Exam 2023 with 100% correct answers

Mary dies, and in a handwritten will with no witness, gifts her house to her grandson. Mary has created what kind of will? a. testamentary b. holographic c. harmonious d. automatic - correct answer -b. holographic Sally and Jorge are a married couple who own a house together. The couple has...

BPO - correct answer -broker's price opinion. process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property. Reasons for a BPO. 1. The people in the home have asked to refinance the home and the lender does not want to pay for a full ...

Life Estates - correct answer -level 13 chp 2 The Four Main Types of Estates - correct answer -Freehold Estates Leasehold Estates Equitable Estates Concurrent Estates Freehold Estates - correct answer -Three Types of Freehold Estates Okay, so now you know what a freehold estate is. Let's ...

What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover th...

Here are the four major types of agency acts: - correct answer -Listing Buying Leasing Property Management TREC's purpose is to - correct answer -regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily...

Five Catagories of Real Estate Properties - correct answer -(1) Residential, (2) Commercial, (3) Industrial, (4) Farm & Land/ Agriculture (5) Special Purpose Apartment Locator - correct answer -A real estate license holder who locates dwelling units for prospective tenants Tenant - correct ans...

What is land? - correct answer -Land refers to more than just a tract of earth. Land not only includes the natural resources on the surface of the land, but the minerals below the surface and the air above the surface. The official definition is: The surface of the earth, including all perm...

The Real Estate Law is found in A. The Licensing Code B. The Business and Professions Code C. The Health and Safety Code D. The Corporations Code - correct answer -B. Business and Professions Code The Real Estate Commissioner reports to a. the California Bureau of Real Estate. b. the gov...

TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - correct answer -Formulas to calculate commission? PRINCIPAL - correct answer -What is the term that describes the money that is lent? CASH TO CLOSE - correct answer -Down payment minus earnest money? TOTAL SALES ...

Broker's Price Opinion (BPO) - correct answer -A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property Closing - correct answer -The completion of a real estate transaction in which the buyer recei...

What is investment gain? - correct answer -an increase in property value due to active and purposeful developments or improvements Ben has recently purchased a policy for title insurance. Two weeks after making his purchase, it is revealed that there were unknown liens attached to the title. What...

Amortization - correct answer -The repayment of a loan principle over time Arrears - correct answer -Payment for an item or service after it's received Down Payment - correct answer -The initial payment made when buying something on credit, a ____________ is paid directly by the buyer to the ...

In what code is the Real Estate Law found? - correct answer -Business and Professions Code Who does the Real Estate Commissioner Report to? - correct answer -The governor A salesperson owns 25% of the outstanding shares of Rollo Reality Inc and the broker owns the remaining shares. Is the divi...