100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Champions School of Real Estate-Principles of Real Estate I: Q&A $15.99   Add to cart

Exam (elaborations)

Champions School of Real Estate-Principles of Real Estate I: Q&A

 5 views  0 purchase
  • Course
  • Institution

Champions School of Real Estate-Principles of Real Estate I: Q&A

Preview 3 out of 18  pages

  • June 8, 2023
  • 18
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
avatar-seller
Champions School of Real Estate-
Principles of Real Estate I: Q&A
3 Physical Characteristics of Land Correct Ans - Indestructibility or
durability
Immobility
Non homogeneity

Mortgage Lending Correct Ans - business of providing money to
individuals or corporations for the conditional transfer or pledge of real estate
as security for payment of a debt

RMLO Correct Ans - Residential Mortgage Lenders Originator

Property Management Correct Ans - Management of residential and
commercial properties on behalf of owner/investor

Apartment Locators Correct Ans - Locates rentals of tenants in multi-
family complexes. Has knowledge of amenities of all complexes in the market
area. Paid a fee by apartment complex for referals

Home Inspectors Correct Ans - Inspects properties for habitability
including HVAC, Plumbing, electrical and construction methods

Real Estate Development Correct Ans - Involves the acquisition of land
for development into residential subdivisions, retail center and commercial
uses

Oil and Gas Landman Correct Ans - Negotiates oil and gas leases with
mineral owners. Title work to determine mineral ownership

TREC Correct Ans - Texas Real Estate Commision

Education Standards Advisory Cmte Correct Ans - 12 members-7
brokers, 4 education board members, 1 public member. Reviews and revises
curriculum standards, course requirements.

,NAR-National Association of Realtors Correct Ans - Largest
professional organization for RE profs. Divided into State and Local boards.
Operates the MLS

IREM-Institute of RE Mgmt Correct Ans - Intl cmte of RE managers.

CCIM-Certified Commercial Investment Memeber Correct Ans - Est
1954. Furthers business practices through education and networking

SIOR-Society of Industrial and office realtors Correct Ans -
Professional affiliate of the NAR. Specializes in industrial, office, sales
managers, executive manager or advisory service

ICSC-International Council of Shopping Centers Correct Ans - Purpose
is to advance the shopping center industry. Promotes commercial distribution
of consumer goods and service

BOMA-Building Owners and Managers Assoc Correct Ans - Member
are building owners, managers, developers, leasing professionals, corporate
facility managers, asset managers, and providers of products and services to
operate commercial properties

Land is developed... Correct Ans - by appearance, location and scenic
value

Land is described... Correct Ans - by utility and suitability for a specific
use

Land and Real Estate property Correct Ans - must be described in a
distinguishable manner from personal property.

4 Economic Characteristics of Land Correct Ans - Scarcity
Modification
Fixity
Situs

Indestructibility or durability Correct Ans - Land cannot be destroyed

, Immobility Correct Ans - land cannot be moved, owner must go to the
land

Non-homogeneity Correct Ans - no 2 parcels of land is the same.

Scarcity Correct Ans - supply and demand. Shortage of what people
want price goes up; less land price increases, more land price decreases

Modification Correct Ans - value is affected by man-made changes to
the land itself or offsite improvements

Fixity Correct Ans - land and addition to land take a long time to pay
for themselves.

Situs Correct Ans - Location of property or land from and economic
not geographic viewpoint

value Correct Ans - fair return in goods, services or money for
something exchanged. The monetary worth of something.

Real Estate Value Correct Ans - determined by personal preference
which is subjective

Supply and demand Correct Ans - high demand=low inventory, price
increases
Low Demand=high inventory, price decreases

Supply is restricted by Correct Ans - Land costs
construction
taxation
economics
building and zoning ordinances
Growth policies of cities

Demand is affected by Correct Ans - Growth in employment
transportation systems
personal preference
availability in credit
Federal Govt policy

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.99
  • (0)
  Add to cart