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CE Shop Final Exam Study questions and answers.
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CE Shop Final Exam Study questions and answers. CE Shop Final Exam Study questions and answers. CE Shop Final Exam Study questions and answers. CE Shop Final Exam Study questions and answers.

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  • August 24, 2024
  • 43
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ce shop final exam study questions and answers

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  • CE Shop
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CE Shop Final Exam Study questions
and answers




The
/Housing
/and
/Community
/Development
/Act /of /1974 /added /which /protected /class /to /federal /fair /housing /law? /- /(correct /answer) /-Sex


When /is /a /cease /and /desist /order /effective? /- /(correct /answer) /-Immediately /upon /issuance

What's /another /name /for /an /escrow /account? /- /(correct /answer) /-trust /account

Which
/act
/was
/the
/first /to /prohibit /any /exceptions /for /discrimination /based /on /race /or /color? /- /(correct /answer) /-
Civil /Rights /Act /of /1866

What's /the /best /definition /of /real /property? /- /(correct /answer) /-
Real /estate, /plus /all /of /the /interests, /benefits, /and /rights /included /in /ownership

What /is /considered /special /land /types? /- /(correct /answer) /-

Who /must /approve /a /short /sale? /- /(correct /answer) /-the /seller /and /the /sellers /lender

The
/two
/real
/estate
/firms
/in

,/one
/small
/town,
/Vineyard
/Realty
/and
/Homestead
/Homes,
/agree
/to
/charge /the /same /commission /rate /to /avoid /the /possibility /of /clients /selecting /a /firm /based /simply
/on /price. /What /specific /federal /legislation /prohibits /this /- /(correct /answer) /-
The /Sherman /Anitrust /Act /of /1890

Alice
/owned /
a
/double
/lot
/on
/the
/waterfront.
/She
/sold
/the
/lot
/to
/Ronesha
/and
/included /
a
/deed
/restriction /prohibiting /construction /of /any /building /taller /than /one /story. /Ronesha /wants /a /three-
story /house. /What /should /she /do? /- /(correct /answer) /-Conform /to /the /deed /restriction

What /is /the /overarching /theme /addressed /by /statutory /duties /in /most /states? /- /(correct /answer) /-
Licensees /may /not /take /ay /action /that /might /be /detrimental /to /the /client's /legal /interest

What's
/one
/of
/the
/most

,/fundamental
/of /all /fiduciary /duties, /and /is /the /one /that /underlies /all /other /duties? /- /(correct /answer) /-Loyalty


Whose /role /is /it /to /develop /the /comprehensive /master /plan? /- /(correct /answer) /-
Planning /board /members

Which
/economic
/principle
/states
/that
/the
/value
/of
/property /today /is /impacted /by /the /current /value /of /the /total /expected /future /benefits? /- /(correct
/answer) /-Anticipation


You've
/just
/signed /
a
/listing
/with /
a
/new
/seller
/client.
/What's
/true
/about /electronic /delivery /of /written /notice /or /contract /forms /to /your /seller? /- /(correct /answer) /-
It's /allowed /if /the /seller /consented /to /it /in /the /listing /contract

In /what /way /is /a /townhome /similar /to /a /condominium? /- /(correct /answer) /-
They /both /typically /have /HOA /dues

What /does /a /balloon /payment /represent /at /the /end /of /a /loan /term? /- /(correct /answer) /-It /means
/that /some /principal /remains /at /the /end /of /the /loan /term


In
/states
/where
/full
/disclosure
/isn't

, /required,
/whose
/responsibility
/is
/it
/to
/disclose
/any
/items
/required
/by /law /and /respond /honestly /to /any /questions /about /the /property's /condition? /- /(correct /answer)
/-Seller


What
/factors
/does /the /underwriter /consider /in /reviewing /a /mortgage /loan /application? /- /(correct /answer) /-
Credit, /capacity, /and /collateral

Your /seller /clients /have /received /an /offer, /and /the /buyer /has /included /a /pre-
approval /letter. /Your /clients /are /a /little /confused /and /think /a /pre-
qualification /letter /is /necessary. /What's /true /regarding /pre-approval /and /pre-
qualification? /- /(correct /answer) /-
A
/pre-
/approved
/letter
/comes
/with /lender /verification /of /buyer- /provided /data /and /provides /more /assurance /to /the /seller


What /is /a /defeasance /clause? /- /(correct /answer) /-
The /clause /that /states /that /when /the /debt /is /paid, /the /lien /must /be /removed.

When
/appraisers
/look
/past
/how /
a
/property
/is
/being
/used /to /determine /a /more /optimal /function, /what /are /they /determining? /- /(correct /answer) /-
Highest /and /best /use

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