Respa exemptions - Study guides, Class notes & Summaries

FloridaFlorida Real Estate STATE exam The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - ANS D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may be held by a sa...

MOCK PREP- Real Estate (Multiple Choice) Questions and Answers Rated 100% Correct Which of the following is a lien on real estate? a. recorded easement b. recorded mortgage c. encroachment d. dead restriction *ANS* b. recorded mortgage Which approach to value would MOST likely be useful to real estate brokers estimating the value of a single-family residence for sale in a subdivision? a. cost approach b. income approach c. market comparison approach d. gross rent multiplier *AN...

Colibri Real Estate Practice Final Exam Questions and Complete Solutions Why is the condition of bearing walls more important than non bearing walls? - Answer: Bearing walls support the ceiling and the roof. Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom has - Answer: transferred a portion of his bundle of rights What is a forecast of income and expenses that can be projected over five years? - Answer: Stabilized budget A buyer told bro...

Florida Real Estate STATE Exam With 100% Correct Answers 2023 The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - Correct answer-D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C...

CRCM Exam 2023 Questions and Answers| latest updateCRCM Exam 2023 Questions and Answers| latest update When developing a training plan for commercial lenders, which of the following regulations is least important to include? - ANSWER Truth in Lending Act, CFPB Regulation Z The federal banking agencies have proposed an amendment to Regulation Z that would require a new early disclosure statement for loans secured by the borrower's principal dwelling. After reading the proposed change, what...

A buyer defaults on a contract and the seller chooses to receive the earnest money. This is an example of: - ANSWER Liquidated damages In a residential lease with a "right of first refusal" provision: - ANSWER The tenant has the right to match or better any offer the landlord receives to prevent the property from being sold to someone else Bill is the buyer purchasing a property from Sally. All contingencies have been met and the parties are ready to close. One day prior to closing, Sall...

Blockbusting causes: A Trust busting B Panic peddling C Blind advertising D Redlining - Answer B. Panic Peddling Blockbusting causes panic peddling (also known as panic selling), where homeowners quickly sell their homes for fear of a drop in home values due to the entry of a protected class into their neighborhood. Which of the following advertisements would violate fair housing law? A Private outdoor space B No elevator access C Walk-in closet D Easy access to the highway - An...

Exam Question Master 1 T/F - Real estate professionals provide knowledge of market conditions - ANS True The product that real estate licensees market is - ANS Expert Information Real estate professionals provide expert information in three areas: - ANS Property transfer, market conditions, and how to market real estate and businesses. D.B.P.R (Department of Business and Professional Regulation) main office location - ANS - Located in Tallahassee, FL. DRE (Divisio...

A financial institution offers residential loans. After reading a new regulation that expands HOEPA coverage, the compliance officer analyzes the institution's lending portfolio and determines that no existing loans are covered. The compliance officer should NEXT _______ a. advise management to sell that portion of the mortgage portfolio. b. incorporate the new HOEPA triggers into existing training and procedures. c. purchase new software that identifies HOEPA covered loans. d. draft a po...

Azure Tide Real Estate Exam 2 Questions and Answers All Correct Gross Rental Multiplier (GRM) is an easy-to-use a calculation to get an estimated value for a potential investment. What is the formula used to calculate the GRM value? - Answer-Sale Price (Market Value )/ Gross Monthly Rental Income = Gross Rent Multiplier (GRM) Jill bought a house 3 years ago and paid $175,000 for it and spent $7,000 in closing costs. Since, then she has made several improvements to the property for $75,000....