Nevada National Real Estate Exam Questions and Answers Rated A+

Nevada National Real Estate Exam Questions and Answers Rated A+ Property owned by all owners of a condominium and available for their use are: common areas A park has been created by the city to separate a shopping center from a residential subdivision. The park would be considered a(n): buffer zone. Mr. Smith and Mr. Jones acquire property together, each owning 1⁄2 of the property with no right of survivorship. The men hold title to the property as: tenants in common. A property has increased in value from the purchase price seven years ago. This increase in value is referred to as: appreciation. Reproduction Cost would be the best suited for which of these properties? U.S. Capital Building A home with badly cracked and termite infested trusses is best described as suffering from: incurable physical depreciation. A provision in the note which allows the lender to call the entire balance due upon the happening of a stated event is the: acceleration clause. A discount point is: increases the lenders yield without increasing the stated note interest rate. At a foreclosure sale, the bid price was $18,000 less than the outstanding balance of the loan. The borrower may be pursued for a deficiency judgment. In a real estate agency relationship, if the sales agent dies: the agency continues between the seller and the broker. A special agent is: has no authority to bind the client to any contract. When has the brokerage earned the commission? when a ready, willing and able buyer is produced An agent is in the process of taking a listing when the seller announces that he does not want the property shown to any African-Americans. Both the broker and the agent are liable for accepting the listing on these terms.