46. What is the maximum amount that may be paid from the Education, Research and Recovery Fund for each violation? - answer-The Recovery Fund will issue $150,000 per claimant, per transaction violation. The Fund is not obligated to pay more than $250,000 per licensee in total, regardless of the num...
, MINNESOTA STATE REAL ESTATE TEST REVIEW
46. What is the maximum amount that may be paid from the Education,
Research and Recovery Fund for each violation? - answer-The Recovery Fund will
issue $150,000 per claimant, per transaction violation. The Fund is not obligated
to pay more than $250,000 per licensee in total, regardless of the number of
claimants.
A broker has brought a ready, willing, and able buyer to a seller. In MOST listing
contracts, the broker has earned his commission when - answer-the seller
accepts the offer
A broker, acting as agent for the seller, presents an offer to buy from the
broker's former college roommate. The broker knows that the buyer will increase
the amount of the offer if the seller turns down the offer. When presenting the
offer, the broker should - answer-tell the seller that the buyer will pay more.
A company agrees to lease a property to be used as a gambling casino. State
laws prohibit gambling. This particular contract would be legally defined as -
answer-Void
A couple owns an older home in a neighborhood that is becoming a commercial
area. Because of the change in the use of the land, the couple can expect the
value of their parcel to increase at some future time. This is an example of the
principle of - answer-anticipation
A homeowner is willing to let his neighbor park an RV in his backyard. He does
NOT want to make the permission permanent in case he dislikes others who
might move next door in the future. What should he give his neighbor? - answer-
A license.
A landowner wishes to build a neighborhood grocery store on a busy street in an
area zoned for residential use. Which of the following would MOST likely be used
to obtain permission for this store? - answer-Conditional use permit or zoning
variance.
A property management plan may serve different purposes for different owners,
and generally has to strike a balance between preservation of the property's
value and generation of income. Which of the following owners would MOST
likely prefer a property manager who emphasizes maintenance of value over
profitability? - answer-Department of Housing and Urban Development
A prospective buyer made an offer to purchase a property. The owner responded
with a counteroffer. While the buyer was reviewing the counteroffer, the owner
received a better offer. The owner can accept the second offer if - answer-the
owner withdraws the counteroffer before it is accepted.
A salesperson lists a property with a contract that allows for subagency and dual
agency. The salesperson is - answer-an agent to the broker and a subagent to
the principal.
According to the principle of progression, a three-bedroom, one-story home is
MOST likely to bring the highest sales price if located in a neighborhood in which
- answer-most homes are larger than the sale home
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TOPDOCTOR. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £10.87. You're not tied to anything after your purchase.
