Hondros College- Real Estate Exam Principles and Practices Questions and Answers (100% Pass)
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Course
Hondros College- Real Estate
Institution
Hondros College- Real Estate
Hondros College- Real Estate Exam Principles and
Practices Questions and Answers (100% Pass)
Which statement describes the concept of hypothecation?
A) the passing of legal title to a disinterested third party until a loan is
repaid
B) the pledge of property as collateral for a loan while cont...
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B) "Our brokerage won't work with them because they discount all of their
services."
C) "We would like to suggest that you use Ace Title Agency for the
closing."
D) "Why don't you handle the business on the west side of town and leave
the east side to us." - Answer✔️✔️-c
In an attempt to avoid foreclosure, a homeowner asks his lender to accept a
purchase price that is less than the amount owned on the property. This
type of arrangement is a...
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Mike has always loved the little cottage at the end of the lane. One day, he
knocks on the door and asks owner Carrie if she'd like to sell. She says
she's not likely to sell. he offers to pay her $2,000 today if she would agree
to contact him is she ever gets an offer on the cottage, giving him the
opportunity to make the purchase before anyone else. This is an example of
an...
A) contingency clause
B) option to purchase
C) right of first refusal
D) tendering performance - Answer✔️✔️-c
Market value can be defined as the...
A) amount a buyer paid to purchase a property
B) cost in material and labor necessary to construct property
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C) most probable selling price in a typical transaction
D) what a property actually sold for - Answer✔️✔️-c
Kelsey has a signed listing agreement with Tom Smith Realty. Licensee Ivy
is her agent. Which event would NOT terminate the listing agreement?
A) Ivy transfers her license to a different brokerage
B) Kelsey declares bankruptcy
C) Kelsey's house burns down
D) Tom Smith's license is suspended - Answer✔️✔️-a
Of these, which would be considered a voluntary, specific lien?
A) mechanics lien
B) mortgage lien
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