Hondros College- Real Estate Exam Principles and PracticesQuestions And Answers Graded A+
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Module
Hondros College- Real Estate
Institution
Hondros College- Real Estate
Phil owns shares in a corporation that gives him the right in a unit of a building that is owned by the
corporation. Phil lives in a...
A) condo
B) cooperative
C) leasehold estate
D) timeshare - b
Suellen meets with licensee Nick to discuss selling the home where she has lived for 30 years. S...
Hondros College- Real Estate Exam
Principles and Practices
Phil owns shares in a corporation that gives him the right in a unit of a building that is owned by the
corporation. Phil lives in a...
A) condo
B) cooperative
C) leasehold estate
D) timeshare - b
Suellen meets with licensee Nick to discuss selling the home where she has lived for 30 years. Suellen
wants to purchase a condo in a new community and have enough to buy some new furniture without
going into debt. She tells Nick she needs to make $215,000 on the sale. Anything he can get over and
above that amount will be his to keep. This is an example of...
A) exclusive agency listing
B) exclusive right to sell listing
C) net listing
D) open listing - c
Which statement describes the concept of hypothecation?
A) the passing of legal title to a disinterested third party until a loan is repaid
,B) the pledge of property as collateral for a loan while continuing to possess it
C) the promise to discharge the lien on the property once a loan is repaid
D) the voluntary surrender of title to property in lieu of foreclosure action - b
Which of these phrases would LEAST LIKELY be evidence of conspiracy to commit an antitrust violation if
said by a licensee?
A) "Every brokerage in town charges a standard 7% commission."
B) "Our brokerage won't work with them because they discount all of their services."
C) "We would like to suggest that you use Ace Title Agency for the closing."
D) "Why don't you handle the business on the west side of town and leave the east side to us." - c
In an attempt to avoid foreclosure, a homeowner asks his lender to accept a purchase price that is less
than the amount owned on the property. This type of arrangement is a...
A) deed in lieu of foreclosure
B) deficiency agreement
C) fiduciary deed
D) short sale - b
, Mike has always loved the little cottage at the end of the lane. One day, he knocks on the door and asks
owner Carrie if she'd like to sell. She says she's not likely to sell. he offers to pay her $2,000 today if she
would agree to contact him is she ever gets an offer on the cottage, giving him the opportunity to make
the purchase before anyone else. This is an example of an...
A) contingency clause
B) option to purchase
C) right of first refusal
D) tendering performance - c
Market value can be defined as the...
A) amount a buyer paid to purchase a property
B) cost in material and labor necessary to construct property
C) most probable selling price in a typical transaction
D) what a property actually sold for - c
Kelsey has a signed listing agreement with Tom Smith Realty. Licensee Ivy is her agent. Which event
would NOT terminate the listing agreement?
A) Ivy transfers her license to a different brokerage
B) Kelsey declares bankruptcy
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