Laws on house buying Study guides, Class notes & Summaries

FCS 340 Exam 3 Questions with Correct Answers Traditional financial guidelines suggest that your home should cost about __________ times your annual income - ANSWER 20-30% List advantages and disadvantages of renting - ANSWER Advantages: Easy to move, financial benefits, lifestyle flexibility Disadvantages: No tax benefit, limitations on remodeling, restrictions on pets The opportunity to have another person take over rent payments and live in the rental unit is called ________________...

A property tax is assessed based on the value of the property at a point in time. How does this compare to how income taxes are assessed? - Income taxes are assessed based on income *over a period of time* rather than at a point in time. Think income statement verses balance sheet. What period of time will we use when determining federal individual income tax in this class? - One calendar year What method of accounting is used for individual income taxes and why? - Individuals use cash bas...

WRA EXAM 2024 WITH COMPLETE SOLUTIONS. The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - ANSWER The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker." ...

Rental Property Management Comprehensive Licensing Test (2024) || With 100% Correct Solutions Rental Property Management Comprehensive Licensing Test (2024) || With 100% Correct Solutions 1. Which of the following statements respecting aspects of the British Columbia civil court system would be considered accurate? A. The next step for a disappointed litigant in a small claims dispute would be to appeal the small claims court decision to the BC Court of Appeal. B. A matter brought before ...

45 Hour Post Licensing| Questions and An Which is NOT permitted under the do-not-call rules? - ANSWER Using the registry to find prospects for marketing calls Which term is found in the Junk Fax Protection Act? - ANSWER Established business relationship A sales associate must give a brokerage relationship disclosure to a customer when selling - ANSWER a residential condominium as a single agent A person who wants to be a certified lead paint renovator must - ANSWER successfully complet...

Traditional financial guidelines suggest that your home should cost about __________ times your annual income - 20-30% List advantages and disadvantages of renting - Advantages: Easy to move, financial benefits, lifestyle flexibility Disadvantages: No tax benefit, limitations on remodeling, restrictions on pets The opportunity to have another person take over rent payments and live in the rental unit is called __________________________. - Subletting List advantages and disadvantages of b...

Notary Exam 2024 Practice Questions with Verified Answers If a Notary identifies a signer through proper ID but forgets to put the information in her journal, she would be fined for? 750 Aaron has filed his Oath of Office and bond with the county recorder's office where he holds his principal place of business. Aaron is under oath for the duration of his commission to follow all Notary laws as a result. If Arron falsifies a statement, verbally or in writing, he may be found guilty ...

An economic recovery is defined as A) two successive quarterly declines in the gross domestic product. B) two successive quarterly increases in the gross domestic product. C) a period of higher housing prices. D) two successive periods of stock market gains. correct answers B) two successive quarterly increases in the gross domestic product. Explanation When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Sl...

California Real Estate Practice Final Exam (Questions & Answers) Using time-management to increase income, you should realize that doubling "A" time activities should double your income. What are the advantages of a good time-management program? Improved efficiency Increased income A release from time pressures One of the requirements for a real estate salesperson to be regarded as an independent contractor by the IRS is that the broker-salesperson contract states that the salesperson ...

PLATO Edmentum US Government End of Semester Test - 100% Correct Answers What specifically was Dr. Martin Luther King Jr. speaking out against when he made this statement in 1958? "I could never adjust to the separate waiting rooms, separate eating places, separate rest rooms, partly because the separate was always unequal, and partly because the very idea of separation did something to my sense of dignity and self-respect." A. civil disobedience B. the Montgomery Bus Boycott C. the march on...