Exam (elaborations)
National Real Estate Exam Practice Questions & Answers 2024
- Course
- Institution
National Real Estate Exam Practice Questions & Answers 2024
[Show more]
Content preview
National Real Estate Exam PracticeQuestions & Answers
A gproperty gowner ghas gdecided gto gdo gsome glandscaping gwork gon ghis gyard. gHe
ghas gplanted ga gtree gsurrounded gby gsome gflowering gshrubs. gThe gtree gand gshrubs
gare gan gexample gof... g- gANS-improvements
A gproperty gowner ghas ga gwaterfront glot gon ga gstream. gHe ghas gthe gright gto guse gthe
gwater gfrom gthe gstream. gWhat gis gthis gright gcalled? g- gANS-riparian
A gtenant gis gaware gthat ghis glease gwill gexpire gat gthe gend gof gthe gmonth. gHe ghas
gbegun gto gdisassemble ghis gdisplay gcabinets gand gshelves. gWhich gof gthe gfollowing
gstatements gabout gthis gis gtrue g- gANS-the gtenant gcan gtake gthese gas gthey gare
gtrade gfixtures
A gseller gis gattending gthe gclosing gon ghis gproperty. gThe gtitle gcompany ghas
gdiscovered gan gunsatisfied gM&M glien gon gthe gproperty. gWhich gof gthe gfollowing gis
gthe gmost glikely greason gfor gthe glien? g- gANS-plumbing gwork gthat gwas gcompleted
gbut gnever gpaid gfor
A glisting gagent gwent gto ginspect ga gseller's gproperty ghoping gto glist git gfor gsale. gThe
gseller gtold gthe glisting gagent gthat ghis gneighbor's gsatellite gdish gtrespasses gon ghis
gproperty. gThis gis gan gexample gof... g- gANS-encroachment
A gfather ggives ghis gson ga glife gestate gon ga gproperty. gThe gson gleases gthe gproperty.
gThe gtenant gdies. gWhat ghappens gto gthe gproperty? g- gANS-it ggoes gback gto gthe gson
guntil ghe gdies
A gman gleaves ghis gsecond gwife ga glife gestate gin gtheir ghome gafter gwhich gthe
gproperty ggoes gto ghis gchildren gfrom ghis gfirst gmarriage. gThe gchildren... g- gANS-are
gremaindermen
Which gof gthe gfollowing gstatements gabout gan geasement gis gtrue? g- gANS-an
geasement gis ga gbenefit gto gthe gdominant gproperty gowner
P, gQ gand gR gare gjoint gtenants. gP gwants gto gsell gthe gproperty, gbut gQ gand gR gdo
gnot. gWhat gcan gP gdo? g- gANS-file ga gsuit gfor gpartition
A, gB gand gC gare gjoint gtenants. gC gdies. gB gsells ghis gshare gto gD. gWhat gtype gof
gownership gdo gA gand gD ghave? g- gANS-tenants gin gcommon
,Under gwhat gright gcan gthe ggovernment gchange gproperty guse gfrom gcommercial gto
gresidential gonly? g- gANS-police gpower
Ownership gof gthe gcommon gareas gof gcondominiums gis gmost glikely gto gbe: g- gANS-
tenancy gin gcommon
What gshould ga gbuyer gdo gto gensure gthat ghis gis ggetting gthe gbest gtitle gto greal
gproperty? g- gANS-get ga ggeneral gwarranty gdeed
Which gcovenant gin ga gdeed gguarantees gthat gthe gowners gwill gnot gsuffer gor gbe
gdisturbed gby gany gclaims gon gthe gproperty? g- gANS-the gcovenant gof gquiet
genjoyment
Excess gmoney gat ga gforeclosure gsale ggoes gto... g- gANS-the gborrower
After gdefaulting gon ga greal gestate gloan, ga gborrower gis gable gto gpay goff gthe gloan
gprior gto gthe gforeclosure gsale. gThis gis gcalled: g- gANS-right gof gredemption
The grequired gdistance gbetween gbuildings gand ga gfederally gprotected gendangered
gspecies gwetlands gis gan gexample gof... g- gANS-a gbuffer gzone
A gcouple gpurchased ga gcondominium. gThe gcomplex ghas gan gexercise groom gfor gall
gresidents. gThe gcouple gdoes gnot guse gthe gexercise groom gand gdoes gnot gwant gto
gpay gthe gmonthly gfee gfor gthe guse gof gthe gfacility. gWhat gcan gthey gdo gto gavoid gthis
gfee? g- gANS-they gmust gpay gthe gfee gas gthey ghave ga gtenancy gin gcommon ginterest
gin gall gcommon gareas
Which gof gthe gfollowing gis gpersonal gproperty? g- gANS-a glease
A glandlord gleased gspace gin ghis gnew gretail gproperty gto gan ginexperienced gbusiness
gperson. gBased gon glocation gand gthe gtype gof gbusiness, gthe glandlord gbelieves git gwill
gbe ga ggreat gsuccess. gWhat gtype gof glease gcan ghe genter ginto gwith gthe gtenant gthat
gwill gallow gthe glandlord gto gbenefit gfrom gthe gtenant's gsuccess? g- gANS-a gpercentage
glease
A gbuyer ghas gpurchased ga gproperty gand gafter gclosing gthe gseller gwill gcontinue gto
goccupy gthe gproperty. gThis gis gan gexample gof... g- gANS-sale gand gleaseback
Your gclient gwill gbe gable gto gqualify gfor ga gproperty gthey gwish gto gpurchase gin gabout
g6 gmonths, gafter gthey ghad gan gopportunity gto greduce gtheir gconsumer gdebt. gThey
ghave gfound ga gproperty gthat gthey gwould glike gto gpurchase gnow. gWhat gtype gof
gagreement gcan gthey genter ginto gwith ga gseller gthat gwill gallow gthem gto goccupy gthe
gproperty gnow gand gpurchase git gwithin gthe g6 gmonths? g- gANS-lease gwith gan goption
gto gbuy
, Tenants ghave gsigned ga g3 gyear glease gon ga gproperty. gIn gthe gsecond gyear gthe
gowner gdies gand ghis gheirs ginherit gthe gproperty. gThey ggive gthe gtenants gnotice gto
gvacate. gWhat gis gtrue? g- gANS-the gtenants gcan gstay guntil gthe gend gof gthe glease
A gdeveloper gdecides gto gbuild ga gcommercial gproperty gin gthe gmiddle gof ga
gresidential gsubdivision. gWhat gis grequired? g- gANS-a gvariance
A gzoning gordinance gwould gaffect gwhich gof gthe gfollowing? g- gANS-the gconcentration
gof ghousing gin ga gresidential garea
If ga gperson gdies gwithout ga gwill, gwho greceives gtheir gestate? g- gANS-spouse gand
gchildren
What gare gthe grequirements/ gcriteria gfor greal gestate gto ghave gvalues? g- gANS-
demand, gutility, gscarcity, gtransferability
What gprinciple gof gvalue gdefines gthe gmost gimportant gfactor gfor gappraisal? g- gANS-
highest gand gbest guse
What gapproach gwould gan gappraiser gmost glikely guse gto gvalue ga gresidential grent
ghouse gin gneighborhood gwhere ga gmajority gof gthe ghomes gare gleased? g- gANS-
income gapproach
A glicensed gbroker gis gadvertising gthat ghe gwill gperform ga gfree gappraisal gif gyou
gcontact ghim gfor ga glisting gappointment. gHe gis gnot gin gviolation gof gthe glaw... g- gANS-
if ghe gis ga glicensed gappraiser
Which gof gthe gfollowing gis gNOT gan gexample gof gfunctional gobsolescence? g- gANS-
deferred gmaintenance
According gto gthe gStatute gof gFrauds, gwhich gof gthe gfollowing gleases gmust gbe gin
gwriting? g- gANS-a glease gfor gmore gthan gone gyear
Your gclient gis gan ginvestor gwho gwould glike gto ghave gthe gright gto gpurchase ga
gcommercial gtract gfor g$5 gmillion gfor gthe gnext g6 gmonths. gWhat gtype gof gcontract
gshould ghe genter ginto gwith gthe gseller? g- gANS-an goption gcontract
A gsigned gsales gcontract gthat ghas gnot gyet ggone gto gclosing gis... g- gANS-executory
When gdoes gan goffer gbecome ga gcontract? g- gANS-When gthe gofferee ggives gthe
gofferor gnotice gof gthe gacceptance
Which gof gthe gfollowing gstatements gis gtrue gabout gthe gduties gof gan gagent gaccording
gto gthe gcommon glaw gof gagency? g- gANS-an gagent gmust gtreat gboth gclients gand
gcustomers gwith ghonesty gand gfairness
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Prose1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82292 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now