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National - Real Estate Certification: Practice Exam (100% Correct) Graded A+ |Verified| 2024/2025

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National - Real Estate Certification: Practice Exam (100% Correct) Graded A+ |Verified| 2024/2025 Which of the following represents a financial claim against real estate property? a. Easement recorded in county records b. Mortgage documented in public records c. Unauthorized struc...

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  • December 8, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • national real estate certification practice ex

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  • Real Estate
  • Real Estate

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National - Real Estate Certification: Practice
Exam (100% Correct) Graded A+ |Verified|
2024/2025
Which of the following represents a financial claim against real estate property?

a. Easement recorded in county records

b. Mortgage documented in public records

c. Unauthorized structure crossing boundaries

d. Restrictive covenant filed with the deed

b. Mortgage documented in public records



When estimating the market value of a single-family home in a subdivision, which valuation method is
typically preferred by real estate brokers?

a. Cost analysis of construction

b. Revenue generation approach

c. Market comparison of similar properties

d. Gross income multiplier technique

c. Market comparison of similar properties



What does a license represent in real estate terms?

a. A form of property easement

b. A type of encumbrance on property

c. Legal action through condemnation

d. Exercise of police authority

b. A type of encumbrance on property



If an easement benefits the physical use of the owner’s adjacent property, it is referred to as:

a. A personal easement not tied to land ownership


1

,b. A right acquired through prolonged use

c. An easement attached to the land

d. A temporary right to use land

c. An easement attached to the land



What is the legal status of a contract signed by a minor?

a. Voidable by the minor

b. Considered breached by default

c. Automatically terminated

d. Void and unenforceable

a. Voidable by the minor



A real estate broker hired by a property owner must adhere to which of the following?

a. Follow all instructions provided by the owner without question

b. Follow the buyer’s instructions instead of the owner’s

c. Adhere to the principle of buyer beware

d. Follow the legal obligations of agency law

d. Follow the legal obligations of agency law



Which type of document is most likely to be found in county land records?

a. Evidence of encroachments

b. Rights related to current occupants

c. Errors in recorded surveys

d. Liens for unpaid construction work

d. Liens for unpaid construction work



What characterizes an ordinary life estate?

a. It cannot be transferred to another party


2

, b. It represents the highest form of property ownership

c. It allows for inheritance upon the owner’s death

d. It prohibits actions that deplete its value

d. It prohibits actions that deplete its value



A real estate agent deposits a buyer's earnest money check into their personal account temporarily.
What legal issue does this create?

a. Improper commingling of funds

b. Unauthorized contract substitution

c. Legal claim transfer to another party

d. Natural land addition or reduction

a. Improper commingling of funds



Who owns the land beneath a non-navigable stream adjoining private property?

a. The midpoint of the waterway's bed

b. The land up to the high-water mark

c. The entire waterway and its bed

d. The streambed, as it is public property

a. The midpoint of the waterway's bed



To establish elevation measurements in real estate, you need a:

a. Documented subdivision map

b. Adjusted survey gridline

c. Standard elevation reference point

d. Survey line dividing land ranges

c. Standard elevation reference point



A loan requiring regular payments with a substantial final lump sum is called a:

a. Loan combining previous debts

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