Exam (elaborations)
AYPO REAL ESTATE EXAM WASHINGTON
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AYPO REAL ESTATE EXAM WASHINGTON
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AYPO REAL ESTATE EXAM WASHINGTONBroker`s price opinion means:
a. an oral report of property prepared by a licensee written report of property prepared
by a licensee both neither
b. written report of property prepared by a licensee
c. both
d. neither - Answers-c. both
What license must a designated broker hold?
a. designated broker's license
b. managing broker's license
c. broker's license
d. no license is required - Answers-b. managing broker's license
A purchaser encumbers real property as security for an obligation without surrendering
rights of possession. This is usually accomplished by a mortgage or trust deed. This
practice is called:
a. hypothecation
b. emblements
c. amortization
d. homesteading - Answers-a. hypothecation
No transfer, sale, offer, or advertisement of subdivision lots can be made until:
a. The preliminary plat is approved
b. The subdivision is inspected by the real estate division
, c. The final plat map is approved and recorded
d. The governor signs his approval - Answers-c. The final plat map is approved and
recorded
Mr. Smith delivers Mrs. White a deed with the intent to pass title and asks Mrs. White
not to record until Mr. Smith dies. When does the title transfer?
a. Upon the death of Mr. Smith
b. When Mrs. White records the deed
c. It is void and will never transfer
d. Immediately upon delivery of the deed to Mrs. White - Answers-d. Immediately upon
delivery of the deed to Mrs. White
The FHA will insure: 1. first mortgages 2. second mortgages
a. 1 only
b. 2 only
c. both
d. neither - Answers-a. 1 only
The method used to compute depreciation in appraisal is called:
a. functional
b. economic
c. accelerated
d. straight line - Answers-d. straight line
Life insurance companies mortgage holdings are greatest in:
a. farm loans
b. conventional residential loans
c. large commercial and apartment building loans
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