Respa exemptions - Study guides, Class notes & Summaries
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LAW OF CONTRACTS CHAMPIONS Real Actual Exam Questions And Revised Correct Answers Already Passed!!
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LAW OF CONTRACTS CHAMPIONS 
Real Actual Exam Questions And Revised 
Correct Answers 
 Already Passed!! 
A contract in which only one party is obligated to 
perform is a________ contract. - ANSWER : 
unilateral 
For tax prorations: - ANSWER : If taxes are not 
paid at or prior to closing the buyer shall pay for the 
current year, If taxes for the current year vary from 
the amount prorated at closing, the parties shall 
adjust the prorations when tax statements for the 
current year are...
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Florida Real Estate STATE exam Questions and Answers 100% Pass
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Florida Real Estate STATE exam Questions and Answers 100% Pass 
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 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...
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Law of Contracts - CHAMPIONS TEST 2023 (Answered)
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Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer- fraud 
 
The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - Answer- 90 days 
 
__________ extend above the surface without limitation. - Answer- air rights 
 
An example(s) of an appurtenance would be: - Answer- easements 
 
There is no upper limit on the value of a Texas homestead. - Answer- true 
 
A(n) __________ is one that combines some of ...
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LAW OF CONTRACTS CHAMPIONS Real Actual Exam Questions And Revised Correct Answers Already Passed!!
- Exam (elaborations) • 44 pages • 2024
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LAW OF CONTRACTS CHAMPIONS 
Real Actual Exam Questions And Revised 
Correct Answers 
 Already Passed!! 
A contract in which only one party is obligated to 
perform is a________ contract. - ANSWER : 
unilateral 
For tax prorations: - ANSWER : If taxes are not 
paid at or prior to closing the buyer shall pay for the 
current year, If taxes for the current year vary from 
the amount prorated at closing, the parties shall 
adjust the prorations when tax statements for the 
current year are...
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Critical HOT Topics for Real Estate Licensing Exam- Superior School of Real Estate
- Exam (elaborations) • 13 pages • 2024
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Critical HOT Topics for Real Estate Licensing 
Exam- Superior School of Real Estate 
What is required to receive compensation? -Answer-A License 
Auctioneers need -Answer-both real estate license and auctioneer license 
Exemptions from Licensure -Answer-salaried employees, property managers, trustees, attorney 
in fact, selling your own property, attorneys 
Salaried, Unlicensed assistants are permitted to -Answer-receive and forward phone calls, submit 
MLS info, secure public records, act as co...
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Champion Real Estate Vocabulary Exam Questions and Correct Answers
- Exam (elaborations) • 34 pages • 2023
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Champion Real Estate Vocabulary Exam Questions and Correct Answers 
RESPA - ANSWER Real estate settlement prodcedures act - 
 
Brokerage - ANSWER The overall real estate business-bringing parties together and completing transactions 
 
Independent Contractor - ANSWER A licensee sponsored by a broker who is not considered an employee- there must be a written agreement, the independent contraction must be licensed and [payment is on the basis of performance, not number of ...
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MLO National Prep Test Questions And Answers Rated A+
- Exam (elaborations) • 23 pages • 2023
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MLO National Prep Test Questions And Answers Rated A+
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Azure Tide Real Estate Exam 2 COMPLETE QUESTIONS AND ANSWERS ALL CORRECT
- Exam (elaborations) • 7 pages • 2024
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Azure Tide Real Estate Exam 2 COMPLETE 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? - ANS 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...
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MLO- Federal Mortgage-Related Laws (Questions and correct answers)
- Exam (elaborations) • 11 pages • 2023
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RESPA (Regulation X) correct answers Real Estate Settlement Procedures Act 
 
implemented by Regulation X 
 
"Disclosure Law" 
The Real Estate Settlement Procedures Act - Regulation X correct answers was enacted to protect borrowers in purchases, refinances, home improvement and home equity lines of credit and any other federally related mortgage loans. RESPA covers properties that are 1-4 fam- ily dwellings, condominiums, or manufactured house. 
RESPA's Origin & Purpose correct answers Cre...
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MLO National Prep Test| 104 QUESTIONS| WITH COMPLETE SOLUTIONS
- Exam (elaborations) • 22 pages • 2022
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S.A.F.E. ACT Correct Answer: * Secure And Fair Enforcement Mortgage Licensing Act 
* 2008 
*Establishes minimum standards for licensing and registering of mortgage loan originators. 
*Everyone has to be registered with NMLS&R 
 
N.M.L.S.&R. Correct Answer: National Mortgage Licensing System and Registry: 
* NMLS-A mortgage licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators 
* Provides uniform lic...
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