Aceable Agent : Final Exam Practice Questions
Easement by necessity - ANS-Lea's property was created when a larger lot was cut into pieces.
It is landlocked and she has an easement across a neighboring lot to reach the road. what kind
of easement does she have?
Example of express agency - ANS-Ted calls Broker Joe asking for help in selling his condo
Exclusive Right to sell Listing - ANS-in which type of listing agreement is a listing agent
promised a commission if the property is sold, regardless of who brings the buyer?
If a loan is partially amortized, then: - ANS-its monthly payments will not be enough to pay off
the principal within the loans terms
Loan to value Ratio - ANS-If a lender wishes to understand the gab between the value of a
property and the cost of the loan being used to purchase that property, what risk assessment
tool would they use?
Supply Increases - ANS-under what condition would you expect the price in a market to
decrease?
what is a Servient Tenement? - ANS-Parcel of land that must allow an adjacent owner to cross;
an easement appurtenant exists at the expense of this party
What is the Superfund Amendments and Reauthorization Act (SARA)? - ANS-federal law that
amends CERCLA, designates more money to the superfund trust, and establishes new
environmental law and regulations
what is true regarding trade fixtures? - ANS-items a tenant uses in their business that will be
removed at end of lease
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