Exam (elaborations)
MISSISSIPPI REAL ESTATE EXAM REVIEW TEST QUESTIONS AND ANSWERS
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MISSISSIPPI REAL ESTATE EXAM REVIEW TEST QUESTIONS AND ANSWERS
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1-162 of 162A comparable property sold for 250k and it has 200 more square feet than the subject
property. If square footage contributes $30 per square foot, what is the adjusted
value of the comparable?
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$256,000.00
,Which of the following would be covered be Reg Z?
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A loan to an individual that is secured by a residence
What does ECOA have that Fair Housing Act does not?
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Includes age, marital status and receipt of public assistance
RESPA prohibits?
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Kickbacks & unearned fees
How many days do you have to inform MREC if changing brokers?
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3 days
,When a broker discovers that one of his salespersons have violated the real estate
license law the broker must?
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Notify the Real Estate Commission
Fannie Mae
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has shareholders but is under the conservatorship of the FHFA. Creates
mortgage-backed securities using pool of mortgages as collateral, FHA
and VA loans.
Real Estate broker is required by the REC regulations to keep all real estate records
on file for a period of how many years?
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3 years
A building housing an insurance company existed before the property was rezoned
residential. The building is now allowed because of?
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, A nonconforming Use
Salesperson can bring legal action against a buyer, seller or another licensee?
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No, under no circumstance since only the broker can sue.
Wraparound Loan
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additional financing while retaining the first loan
Can Brokers place blind ads?
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NO
What is NOT an essential to a contract?
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