Exam (elaborations)
POST LICENSING 303 QUESTIONS AND ANSWERS
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POST LICENSING 303 QUESTIONS AND ANSWERS
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POST LICENSING 303 QUESTIONS AND ANSWERSThe purpose of zoning regulations - Answers- To control the use of the land
Full service office lease - Answers- Landlord pays for business service and
maintenance but the rent is higher
Absorption rate - Answers- How much space is used or sales in a given period of time
Floor plate, core area, usable and rentable area - Answers- Office property
Define due dilligence - Answers- Buyer or renter is evaluation of property for the
intended use- research, inspections, test, etc.
What is the free look period in commercial real estate? - Answers- Equal to due
dilligence, buyer or renters evaluation of the property during this time period, doing their
DD and having their right to cancel
In almost all lending fraud cases what are they trying to adjust and by doing what? -
Answers- Loan to value ratio by giving false information
What are restrictive/protective covenants? - Answers- Private landuse controls, can be
more restrictive than zoning
In real estate what does it mean "runs with the land"? - Answers- It affects other land
owners as they take ownership of the land.
What are some of the main duties of the Broker in charge? - Answers- 1. Supervise
P.B.s
2. Make sure all brokers in the firm do their CE and renew their license each year.
3. Approval of all ads
4. Handles trust accounts
What are some of the "real estate" duties a salaried assistant may do for a broker? -
Answers- 1. show rentals
2. write leases, but can never negotiate
3. prepare materials
4. collect and deposit money
5. keep records
What is "Retaliatory eviction"? - Answers- Evicting a tenant who has taken legal action
against the landlord (this is illegal)
What happens if a provisional broker does not full-fill their require 90 hrs in the time
required? - Answers- license goes inactive
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