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Involuntarily InactiveWhen the licensee fails to complete the required continuing education and thereby cannot renew their license. Multiple LicensesUnder certain situations, licensees can have more than one license; A Multiple license can exist if a broker has business of such a nature that more...

actual notice own it Constructive notice record something in public records How Is Real Estate Recovery Funded ? by fees & fines Eminent Domain government has right to take away public use citizens can't refuse to sell) immune properties government owned lot & block residential sub-division su...

Realtor100 test A 40,000 mortgage for a term of 20 years was originated at an 8%interest rate,with monthly mortgage payments of 334.58 what is the principal balance remaining after the second monthly payment ?$39,863.72 If the price of a lot $9 per square food how many square feet are contained ...

Tract building When a dev. Acquired land, records a plat map and uses a model center from which sales may be made Local level Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and d...

What is Farming?Agent dominates specific area/neighborhood/town Also known as door to door. What are the three areas sales associates must be experts in?Must be experts in Valuation, Marketing, and Property Transfer What key knowledge must you have to be involved in Industrial Sales? (Not needed...

Why is the process of real estate investment analysis important to an investor? A. It helps the investor to select properties that meet personal objectives B. It determines the amount of taxes due on income-producing property C. It determines the exact cash flow from an investment property D. It...

Common Law, Statutory, and Administrative Law Types of Laws Unwritten law; based on the decision of civil courts Common Law Civil courts may impose fines of compensatory damages and in some cases punitive damages. Agency Law civil fines Compensatory damages Additional monetary penalty Punitive ...

1. The real estate market is local in nature what does that mean?Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing ex...

Which of the following statements is true regarding a mortgage loan originator?A mortgage loan originator must have a separate license. A real estate appraiser's fee for professional service is based on which of the following?The time and difficulty of the appraisal Which of the following best ...

one acre equals 43,560 square feet One mile is how many feet 5280 feet Plat or recorded plat is also known as Lot and block Assessor's parcel number (APN) is A number that is assigned to a parcel of real property by a county property assessor to uniquely identify that property within the jurisd...