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Bob Hogue Practice Exam Review QUESTIONS & ANSWERS SOLVED CORRECT!!.
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Bob Hogue Practice Exam Review QUESTIONS & ANSWERS SOLVED CORRECT!!.
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Bob Hogue Practice Exam ReviewQUESTIONS & ANSWERS SOLVED
CORRECT!!
A .transaction .broker .does .NOT .have .which .duty? .- .(correct .answer) .-
Full .fiduciary .duties .to .both .the .buyer .and .the .seller
Which .individual .is .exempt .from .the .cotinuing .education .requirement? .- .(correct .answer) .-
Real .estate .licensee .who .is .also .a .Florida .attorney .in .good .standing .with .the .Florida .bar
A .mortgage .in .which .challenges .the .interest .rate .may .cause .changes .in .the .monthly .payment .amou
nt .is .called .- .(correct .answer) .-an .adjustable-rate .mortgage
A .man .is .a .72-year-
old .retired .college .professor. .The .local .lender .to .whom .the .man .applied .for .a .30-
year .mortgage .denied .the .man's .loan .application, .even .though .he .has .sufficient .income .from .his .pe
nsion .plan .and .an .excellent .credit .history .- .(correct .answer) .-
The .lender's .actions .violate .the .Equal .Credit .Opportunity .Act.
Which .term .refers .to .a .situation .where, .during .the .early .years .of .a .loan, .the .principal .balance .incre
ases? .- .(correct .answer) .-Negative .amortization
You .are .apprasising .a .five-year-old, .single-
family .home. .The .livable .area .is .60feet .by .50 .feet. .The .garage .is .24 .by .20 .feet. .According .to .figures
.obtained .from .a .cost-
estimating .service, .the .base .construction .cost .per .square .foot .of .livable .area .is .$103 .and .
$92 .per .square .foot .for .the .gargae. .Calcualte .the .reproduction .cost .new .of .the .structure. .- .
(correct .answer) .-$353,160
If .a .seller .refuses .to .pay .a .broker .her .sales .commission .after .the .residential .property .us .sold, .the .br
oker .may .- .(correct .answer) .-file .a .suit .in .the .courts .for .her .commission.
, Which .information .must .be .disclosed .to .all .prospective .buyers? .- .(correct .answer) .-
The .home .is .situated .in .a .flood-prone .area.
A .seller .transfers .title .to .a .buyer .with .a .general .warranty .deed. .In .which .clause .of .the .deed .does .th
e .seller .define .the .quality .of .ownership .interest .conveyed .to .the .buyer? .- .(correct .answer) .-
Habendum
Which .valuation .assignment .is .exempt .from .USPAP .requirements? .- .(correct .answer) .-
Broker's .price .opinion .prepared .for .a .lender .concerning .a .short .sale.
An .individual .who .typically .finds .a .tenant .for .property .and .collects .a .fee .is .referred .to .as .- .
(correct .answer) .-a .rental .agent
An .example .of .an .ad .valorem .tax .is .- .(correct .answer) .-a .property .tax
A .seller .listed .a .home .for .
$200,000 .and .agreed .to .pay .a .comission .rate .of .5%. .The .listing .agreement .required .the .listing .office
.and .the .selling .office .to .share .the .commission .on .a .50-
50 .basis. .The .home .was .sold .four .weeks .later .for .90% .of .the .list .price. .The .listinf .broker .paid .the .lis
ting .sales .associate .50% .of .the .listing .office's .commission. .The .selling .broker .paid .the .selling .associa
te .60% .of .the .selling .office's .commission. .How .much .commission .did .the .selling .sales .associate .recie
ve? .- .(correct .answer) .-$2,700
What .variable .does .NOT .influence .demand? .- .(correct .answer) .-Availability .of .construction .loans
Local .government .exercises .its .greatest .effect .on .the .real .estate .business .by .- .(correct .answer) .-
using .zoning, .taxation, .and .the .planning .process.
A .real .estate .broker .is .accused .of .taking .money .from .the .company .escrow .account .to .pay .personal .
expenses. .The .broker .decided .that .she .does .not .want .to .go .through .the .hearing .process .so .the .bro
ker .turns .over .her .real .estate .license .to .the .DBPR. .What .term .describes .this .situation? .- .
(correct .answer) .-Voluntary .relinquishment .for .permanent .revocation
Which .entity .is .a .primary .mortgage .lender .that .does .NOT .accept .deman .deposits? .- .
(correct .answer) .-Mortgage .lenders
Title .to .real .property .is .techinically .conveyed .when .the .deed .is .- .(correct .answer) .-
voluntarily .delivered .and .voluntarily .accepted
Which .disclosure .must .be .given .to .the .buyer .of .both .new .and .resale .residential .condominium .units
? .- .(correct .answer) .-Declaration
A .real .estate .brokerage .company .is .a .transaction .broker .for .a .buyer. .The .buyer .wants .to .purchase .a
.new .home .so .the .sales .associate .take .him .to .three .model .centers .listed .by .three .competing .real .es
tate .companies. .The .sales .associate .must .give .a .written .no .brokerage .relationship .notice .to .- .
(correct .answer) .-no .one.
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