Michigan Broker practice exam questions & Answers(GRADED A)
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Course
Michigan Real Estate Broker
Institution
Michigan Real Estate Broker
A curved boundary is measured using the elements of Chord, radius and _______. - ANSWER ARC
The main difference between a covenant and an equitable servitude is that a breach of an equitable servitude is remedied by... - ANSWER an injunction
Which of the following is a documentation of the "C...
Michigan Broker
practice exam
questions &
Answers(GRADED A)
A curved boundary is measured using the elements of Chord, radius and _______. - ANSWER ARC
The main difference between a covenant and an equitable servitude is that a breach of an equitable
servitude is remedied by... - ANSWER an injunction
Which of the following is a documentation of the "Chain of Title"? - ANSWER An abstract
A profit (aka, a profit a prendre) is a specific kind of ________ that not only allows access to another
person's property but also allows the removal of material resources contained in the property. - ANSWER
Easement
Cob is... - ANSWER a building material made from clay, sand, and straw
Following closure of a landfill, owners, heirs, etc. may not fill, grade, excavate, drill or mine the site for
______ years - ANSWER 50
The maximum allowable amount of yard waste that one may accumulate at a private residence is ______
cubic yards - ANSWER 1000
, Which of the following is not a personal property right? - ANSWER The right of escheat
A tax lien on the property is filed: - ANSWER 35 days after the final tax bill due date
If a person is not responsible for an activity causing a release and the person acquired the property on or
after June 5, 1995, then that person will not be liable provided that the person performs a _____ and
exercises due care - ANSWER BEA
A property the value of which is diminished because of lack of "curb appeal" (i.e.,landscaping, exterior
paint, etc.) is an example of _____________ - ANSWER Functional obsolescence
"Weighted factors" in a CMA are used by ________________ - ANSWER The correct answer is: The
broker to determine the likelihood of the property selling for the listed price
An owner unilaterally cancels a 90-day exclusive listing agreement after 30 days and then, 73 days later,
sells the property through another broker on an open listing. The seller most probably: - ANSWER only
has to pay the broker on the open listing.
If a subject property is in an area subject to unique assessments, levies, or other tax burden, the
agent/broker _____________ inform the buyer. - ANSWER has a responsibility to
If the seller discloses required information after the execution of a binding sales agreement, the buyer: -
ANSWER may rescind the sales agreement.
The National Association of Realtors _________________ disclosure of any stigma associated with a
subject property. - ANSWER encourages
The Seller Disclosure Act does not apply ________________. - ANSWER to transfers to a government
entity
A "forever warranty": - ANSWER defends the property title
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