Key Realty Exam Questions + Answers 100% Solved

Key Realty Exam Questions + Answers 100% Solved What is the smallest saleable portion of a Nevada subdivision called: - Answer- Unit Which of the following are required of deeds to be enforceable: - Answer- must have the grantors signature Personal property could be: - Answer- emblements: aka crops Real property is: - Answer- transferred by deed What is it called when the government gives a parcel of real property back to a private citizen: - Answer- Cloud? A chain of title: - Answer- Lists all grantors and grantees of the realty since the patent A grantor is: - Answer- person transferring real property Consideration is: - Answer- money or valuables Emblements are: - Answer- Annually cultivated crops, attached to the land, and are personal property. A fixture is: - Answer- Attached to property and becomes real property Dower and curtsey are: - Answer- freehold estates that deal with legal-life A legal way to own real property would be: - Answer- through freehold or leasehold A piece of Nevada real property sold for $125,500 and the rate of commission was 6 percent. If the salesperson received $2,484.90, what percentage of the 6 percent commission was he paid? - Answer- 19% I used multiplication to find answer: Step 1: multiply 125,500 by 6 percent to get totally commission = 7,530 Step 2: We want to know the difference in salesperson receivable and total: 7,530-2484.90= 5,045.1 Step 3: what's the percentage difference? well we know its well under answers b and d so lets narrow down to A & c 19% or 33% Answer =19% What is the Nevada licensed person who signed a duties owed with a client called: - Answer- The following are true about Nevada real estate licensing except: - Answer- The Nevada broker must turn over earnest money to: - Answer- A concealment of material fact is called: - Answer- fraud What is one of the ways to terminate a listing agreement: - Answer- expiration of listing Who retains legal title of real property in an i