Mortgage broker canada - Study guides, Class notes & Summaries

Fundamentals of real estate exam prep questions and answers 2024 Land -Answer-The ground & that which is beneath & above it Real estate -Answer-land & fixed improvements to the land Real property -Answer-land, fixed improvements & intangible rights of ownership Personal Property -Answer-Items that can be removed without damaging to the the property Surface rights -Answer-Rights assoctiaed with physcial ground (top layer of land) Supply -Answer-The quantity supplied is the amount of good o...

Mortgage Administrator - ANSWER An individual or entity that enforces payments by borrowers ON BEHALF OF LENDERS OR INVESTORS. Mortgage Administrators must be licensed. Public Register of licensees - ANSWER A registry required to be maintained by FSCO that provides access to licensee information Regulated activities - ANSWER As defined by the MBLAA, any activities that require a license which are currently listed as dealing or trading in mortgages and mortgage lending Tied Selling - ANSW...

Real Estate Broker A person or an organization acting as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee. Real Estate Salesperson A person performing any of the acts included in the definition of real estate broker but while associated with and supervised by a broker. Value The present worth of future benefits. Price The amount a purchaser agrees to pay and a seller agrees to accept under the circumstances surroun...

Florida Real Estate State Exam Property management - ANS Abesntee ownership has increased the demand for which area of brokerage A fee based upon time and difficulty of appraisal - ANS What is a real estate appraiser is paid A subdivision plat map - ANS What does the local planning agency have the authority to approve Dedication - ANS What is it called when a developer gives land to a governmental body? Property management - ANS What business is a license en...

Comparative Market Analysis - ANSWER-What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers - ANSWER-What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified to undertake any valuation and consulting assignment on dwellings containing not more than 4 self-contained family housing units or on residential dwelling sites. Accredited Appraiser Canadian Ins...

Which statement is TRUE concerning radon? - Answer Two homes next door to each other may have very different levels of radon. Hazel's brokerage firm has an annual expense budget of $162,000 that includes her own salary. She wants to make $20,000 profit. If she has seven sales associates, what must each sales associate generate in company dollars for Hazel to achieve her goal? - Answer The answer is $26,000. Required revenue is $182,000. ($20,000 + $162,000). Each sales associate must bring i...

Comparative Market Analysis - Answer What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers - Answer What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified to undertake any valuation and consulting assignment on dwellings containing not more than 4 self-contained family housing units or on residential dwelling sites. Accredited Appraiser Canadian Ins...

The purposes of RECA according to the Act is the following... - correct answer 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - correct answer 1: Rules are a set of instructions to be followed by a...

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - Answer true which of the following coverages does an open peril policy provide? - Answer perils other than those specifically named as being excluded determine the actual cash value in the following situation: original price of office equiptment when purchased 8 years ago- 9,000. depreciated amount at time of fire...

The purposes of RECA according to the Act is the following... 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws 1: Rules are a set of instructions to be followed by all industry professionals 2....