Categories of estate - Study guides, Revision notes & Summaries

Superior School of Real Estate Exam (2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: What is the most important economic factor of real estate? Answer: The Concept of Situs Q: Highest and Best Use is Answer: the one single use that provides the greatest return and maximizes the value of the real estate Q: Land Use Controls are Answer: public, private and government Q: What are the 5 categories of real estate? Answer...

Real Estate Broker License Exam Key Concepts (IL) Real Estate Broker License Exam Key Concepts (IL) Real Estate Broker License Exam Key Concepts (IL) Real Estate Broker License Exam Key Concepts (IL) Real Estate Broker License Exam Key Concepts (IL) Identify the major trade organizations that serve the real estate business. - ANSWER-(1) The National Association of Realtors (NAR) members called "Realtors" (2) The National Association of Real Estate Brokers (NAREB) members called "Realtists...

Professional Home Inspector Exam NHIE / TREC Questions and Answers Already Passed Document Content and Description Below Professional Home Inspector Exam NHIE / TREC Questions and Answers Already Passed The inspector is not required to determine ____ ___ of any system or component. -Years of age -Life expecta ncy -Make model Horizontal waste pipe should slope ____ inch per foot 1/4" per foot if < 3 inch pipe. 1/8" per foot if > or = to 3 inch pipe Drip screed Also called weep screed. U...

Succession Succession: - This aspect of law deals with what happens to an estate (the assets you leave behind) after you pass away. - Estate = the assets, obligations, liabilities, debts, etc. that you leave behind. - Inheritance = what is left once all the debts and liabilities have been paid. - Succession determines who qualifies to inherit. There are 2 types of succession: - 1) Testate = dealing with wills. - 2) Intestate = dealing with no wills. Terminology: - Deceased = person w...

What does REBBA stand for? - Answer-Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - Answer-RECO Purpose of REBBA? - Answer-provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is upheld. What Ontario government body is responsible for REBBA? - Answer-The Ministry of Government and Consumer Services is 'responsible' for REBBA, but it's RECO's role to interpret, e...

Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer- fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - Answer- 90 days __________ extend above the surface without limitation. - Answer- air rights An example(s) of an appurtenance would be: - Answer- easements There is no upper limit on the value of a Texas homestead. - Answer- true A(n) __________ is one that combines some of ...

Solution manual for Canadian Income Taxation 20222023 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman CHAPTER 1 TAXATION― ITS ROLE IN BUSINESS DECISION MAKING Review Questions 1. If income tax is imposed after profits have been determined, why is taxation relevant to business decision making? 2. Most business decisions involve the evaluation of alternative courses of action. For example, a marketing manager may be responsible for choosing a strategy for establishing ...

Brokerage - the business of bringing people together in a real estate transaction real estate licensee - acts as a point of contact between two or more people in negotiating the sale, purchase, or rental of property. A real estate licensee may be the agent for the buyer, for the seller, or for both llinois license categories - broker, managing broker, and leasing agent Appraisal - is the process of estimating a property's market value based on established methods and the appraiser's p...

FELE Subtest 3 Questions and Answers 100% Pass Title VI of the Civil Rights Act Protects against discrimination based on race, color, origins etc. Title VII of TCRA of 1964 Protects against discrimination from employers Tile IX of Ed Amendments Cannot be excluded from activity club or sport based on gender Section 504/ Rehabilitation Act Cannot discriminate against someone based on handicap Age Discrimination Act Cannot discriminate based on age FERPA Parents have a right to inspect and rev...

Law of Contracts - Champions School of Real Estate Latest Version Graded A+ TERLA - Texas Real Estate License Act - Created in 1939 TREC - Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): - One-to-Four Family Residential Contract (Resale) - New Home Contract (Completed Construction) - Residential Condo Contract (Resale) - Ne...