Exam (elaborations)
PERRY REAL ESTATE AND INVESTMENT FINAL
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PERRY REAL ESTATE AND INVESTMENT FINAL
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PERRY REAL ESTATE AND INVESTMENT FINALAnnual rent that is justified for the property on the basis of a careful study of comparable
properties in the area - Answers- Economic Rent
The higher the ______ of capital the higher the Cap Rate. - Answers- Opportunity cost
It can also be viewed as the rate of return on investment (interest rate) plus the rate of
return of the investment - Answers- Recapture value
The commission or its staff has the ability to initiate an - Answers- Investigation
Authorized to settle disputes and, in doing so, act like courts - Answers- Administrative
agencies
A listing in which the seller gives one broker authority to procure a buyer for property is
an - Answers- Exclusive right to sell
Who is liable for misrepresentation of material facts about a property? - Answers-
Seller's broker
How much is the activation fee paid to the Kentucky Real Estate Commission for
opening a brokerage? - Answers- $10
Under KRS 324.045 every broker in KY must - Answers- Maintain a definite place of
business
An _____ is a listing that entitles the broker to compensation only if his or her activities
bring about the desired result - Answers- Open listing
______ may not receive a commission from the sale of real estate - Answers- Attornies
(if they show you "client" don't take the cheese)
Which is not a category of industrial buildings? - Answers- Bulk warehouse
Which is not considered an industrial property - Answers- Call Center
This form sets forth the specific agency relationship proposed between the client and
principal broker of the real estate brokerage company - Answers- Agency Consent
Agreement
The real estate commission may levy fines up to _____ for misconduct to an out-of-
state broker - Answers- $1,000.00
Designed to combat rampant mortgage fraud in the 2000's - Answers- SAFE Act
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