Real Estate Salesperson National Prep Exam Actual Exam Questions and CORRECT Answers
3 views 0 purchase
Course
Real Estate Salesperson National Prep
Institution
Real Estate Salesperson National Prep
Real Estate Salesperson National Prep
Exam Actual Exam Questions and
CORRECT Answers
John owns a dominant estate with an easement appurtenant. John sells the property. What
happens to the easement? - CORRECT ANSWER- It belongs to the buyer
A seller shows a house with all ceiling fans. A buy...
Real Estate Salesperson National Prep
Exam Actual Exam Questions and
CORRECT Answers
John owns a dominant estate with an easement appurtenant. John sells the property. What
happens to the easement? - CORRECT ANSWER✔✔- It belongs to the buyer
A seller shows a house with all ceiling fans. A buyer purchases a home. After closing, all
ceiling fans are gone. What is true? - CORRECT ANSWER✔✔- The seller is not entitled to
take the ceiling fans because they are fixtures to the property
Married person owns commercial property with three other parties. He also owns a home
with his spouse. He has children from previous marriage and current marriage. He dies
intestate. Who will acquire the commercial property? - CORRECT ANSWER✔✔- His co-
tenants
A seller tells the listing agent that the satellite dish encroaches on his property. What should
the agent do? - CORRECT ANSWER✔✔- Disclose the encroachment on his listing
John owns waterfront property. Bob owns the easement. The easement allows Bob to cross
the water. The buyer does not want the easement. How can John eliminate the easement? -
CORRECT ANSWER✔✔- John can pay Bob a negotiated amount to secure the release of
easement
A surveyor has described the property as: 90 east 100 feet then 90 north...etc. What type of
description is this? - CORRECT ANSWER✔✔- Metes and Bounds
Home is going into foreclosure. They owe the bank for their first lien, took out a second loan
so have a second lein, have not paid taxes and owe the IRS. What is the order of which you
pay.. - CORRECT ANSWER✔✔- Property tax lein, first mortgage lein, irs lein, second
mortgage
John has a home zoned z1. He is building a porch that will cross the setback line. What will
he have to do first? - CORRECT ANSWER✔✔- Apply for and receive a variance
, The government can regulate a special coastal properties, flood plains and wet lands. The
authority is an example of what? - CORRECT ANSWER✔✔- police power
Joe received a payment from the title company. He was awarded a judgment against the seller
and collected the funds from the seller. The title company has the right to refund joe. What
clause is this? - CORRECT ANSWER✔✔- assemblage
Deed that will give you the most protection? - CORRECT ANSWER✔✔- general warranty
deed
What could have a negative effect on the sellers credit score? - CORRECT ANSWER✔✔- an
assumption to subject to
What is market value? - CORRECT ANSWER✔✔- The most probable price a property
should bring
Demand for property in the subdivision.. Three remaining homes have comparable amenities,
which would sell for the most using the principle of competition? - CORRECT
ANSWER✔✔- The last three houses that sell
In a residential appraisal, market data approach, the following is true except? - CORRECT
ANSWER✔✔- comparable should be no more than one year old.
You are the owner of three lots. You combine them and make an estate lots. This is an
example of what? - CORRECT ANSWER✔✔- partition
A party inherits a property. Would like to sell the property for 100k. The listing agent knows
that the area will sell for $125k,. What should the broker do? - CORRECT ANSWER✔✔-
Provide the seller with a cma and encourage the seller to price correctly
A broker has listed his property for sale. What should the broker do? - CORRECT
ANSWER✔✔- The broker must always disclose the dual role
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 MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
