Principal of Real Estate II Practice Exam Questions & Answers 100% Correct!!
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Course
Principal of Real Estate II P
Institution
Principal Of Real Estate II P
The real estate exam consists of 110 questions, 80 on the national portion of the test and 30 on the Texas portion of the test.
A. True
B. False - ANSWER A. True
The difference between the market value of a property and the sum of the liens against it is called:
A. the equity
B. due...
Principal of Real Estate II Practice Exam
Questions & Answers 100% Correct!!
The real estate exam consists of 110 questions, 80 on the national portion of the test and 30 on the Texas portion of the test.
A. True
B. False - ANSWER A. True
The difference between the market value of a property and the sum of the liens against it is called:
A. the equity
B. due on sale
C. the assessment
D. the loan-to-value ratio - ANSWER A. the equity
Which of the following are public restrictions on the use of real property?
,A. zoning laws
B. condominium bylaws
C. restrictive covenants
D. deed restrictions
Next question - ANSWER A. zoning laws
The Statute of Frauds is a law that requires some documents, including deeds, be in writing and signed in order to be enforceable in a court of law.
A. True
B. False - ANSWER A. True
A competitive Market Analysis (CMA) is most often prepared by a/an:
A. inspector
B. lender
C. real estate agent
D. appraiser - ANSWER C. real estate agent
Which of the following results from factors outside the property?
, A. functional obsolescence
B. physical deterioration
C. economic obsolescence
D. curable depreciation - ANSWER C. economic obsolescence
Karl signed a one-year lease on an apartment with a rental agency. He sublet the apartment to Kurt, who defaulted on the sublease. Any action entered by
the landlord would be against:
A. Karl
B. Kurt
C. both Karl and Kurt
D. the rental agent - ANSWER A. Karl
A blanket mortgage is:
A. only for people over 68.
B. for only one property owned by the homeowner.
C. always used to finance a vacation rental.
D. a mortgage that covers more than one property. - ANSWER D. a mortgage that covers more than one property.
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