Exam (elaborations)
Tennessee Real Estate Exam Prep Verified and 100% Correct Q & A,
- Course
- Institution
Tennessee Real Estate Exam Prep Verified and 100% Correct Q & A,
[Show more]
Content preview
TN Exam Prep TestEnter the letter for the matching Answer
1. A recurring or periodic expense necessary A. fair housing laws
for the operation of an income property.
Examples include utilities, management, B. Deed Restriction
and ad valorem tax expenses. Excluded
are debt service and the property's C. millage rate
income tax liability.
D. devise
2. The portion of a property's total basis that
may be depreciated, generally the basis E. brokerage
of the improvements, since land cannot
be depreciated. F. depreciable basis
3. An item that has a legal owner, along with G. Women's Council of Realtors
the attendant rights to legal ownership.
H. Regulation Z
4. A partial or complete reduction of a loan's
principal balance over the loan term, I. transfer government property
achieved by periodic payment s which
include principal as well as interest. J. loan-to-value ration (LTV)
5. Fulfillment of the terms of a contract. K. business brokerage
6. Control land usage over specific parcels L. Duty owed to licensee's client
of land"
7. A fair financing law applying to residential M. assemblage
loans; lenders must disclose financing
N. operating expense
costs and relevant terms of the loan to the
borrower. O. designated agent
8. The ad valorem tax rate of a taxing
district, derived by dividing revenues P. performance
required from taxpayers by the districts
Q. local laws
tax base. If the millage rate is 30, the tax
rate is 3%, or $3.00 per $100 of assessed R. equalization
valuation (net of exemptions).
S. amortization
9. An averaging of assessed valuations in an
area to compensate for ad valorem tax T. property
inequities.
10. A transfer of real or personal property
from the devisor to the devisee(s) by
mesa of a will.
11. Anti-discrimination legislation designed to
ensure equal opportunity in housing to all
home buyers.
12. "A provision in a deed that limits or places
rules on how the deeded property may be
used or improved.
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 or Stuvia-credit 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 ACTUALSTUDY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
