Which of the following terms BEST describes personal property that, by its attachment to real property, is regarded as real estate?
A.
Emblements
B.
Personality
C.
Fixtures
D.
Appliances - Answer- C
A salesperson who completes a written listing agreement with a seller is helping ...
which of the following terms best describes personal property that
by its attachment to real property
is regarded as real estate
a salesperson who completes a
Written for
Pearson Vue
Pearson Vue
1
review
By: deborahbenz • 8 months ago
Seller
Follow
GEEKA
Reviews received
Content preview
Pearson Vue Test Questions And Answers
Which of the following terms BEST describes personal property that, by its attachment to real property, is regarded as real estate?
A.
Emblements
B.
Personality
C.
Fixtures
D.
Appliances - Answer- C
A salesperson who completes a written listing agreement with a seller is helping to create a contractual relationship between the:
A.
salesperson and the seller
B.
salesperson and the buyer
C.
salesperson and the listing broker
D.
salesperson's broker and the seller - Answer- D
Which of the following statements about the income approach to value is CORRECT?
A.
It determines an investment property's value based on its return.
B.
It is used more frequently than the direct sales comparison (market value) approach to set loan-to-value ratios.
C.
It is the most accurate method of appraising single-family houses.
D. It produces the highest estimate of value possible. - Answer- A
When a buyer purchases a property subject to a seller's existing mortgage, which of the following statements is CORRECT?
A.
The seller's credit will not be affected by foreclosure on the property.
B.
The seller is released from all liability of the loan.
C.
Any mortgage loan obtained by the buyer to complete the purchase will be a first mortgage loan.
D.
The seller's obligations under the existing mortgage remain unchanged. - Answer- D
The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) is administered by the:
A.
Environmental Protection Agency
B.
Department of Housing and Urban Development
C.
Department of Health and Human Services
D.
Federal Emergency Management Agency - Answer- A
A listing salesperson MUST disclose what information to potential buyers?
A. Any zoning changes made after the property was listed
B. Any ethnic diversity in the neighborhood
C. The financial status of the seller
D. The amount the seller originally paid for the property - Answer- A Property owners who want to list their property tell their licensee, "We want to sell only to a member of a minority group." In this situation, the licensee should advise the owners that they cannot legally discriminate against non-minority group members and:
A.
explain that it has to be an open listing
B.
explain the consequences of violations of the Federal Fair Housing Act
C.
report the owners to the local Board of REALTORS®
D.
remind the owners of their fiduciary responsibilities - Answer- B
In stating a seller's price and terms to a prospective buyer, the seller's broker is required
by the law of agency to state only those terms that are:
A. included in the listing agreement
B. based on the broker's evaluation of prevailing prices and terms
C. favorable for the seller, as determined by the broker
D. attractive to buyers, as determined by the broker - Answer- A
Under an exclusive right-to-sell listing, a licensee has the authority to take which of the following actions on behalf of a seller?
A.
Accept any bona fide offer.
B.
Present only those offers that meet the seller's list price.
C.
Order any needed repairs to the property
D.
Advertise the property for sale. - Answer- D
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GEEKA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R224,24. You're not tied to anything after your purchase.
