Mortgage bound Study guides, Study notes & Summaries

MASSACHUSETTS REAL ESTATE TEST DEFINITIONS: COMPLETE EXAM REVIEW 4C's - -Capacity, capital, collateral, and credit which are used by a lender to assess a buyer's ability to repay a loan 6D Certificate - -Certifies that all condo fees have been paid up to the date of closing; required for all condo closings in Massachusetts 21E Certificate - -Certifies that property is free from contamination 203(b) - -FHA financing program for anyone purchasing a primary 1-4 family, owner-occupied r...

Admitted Insurance Company vs. Non-Admitted Insurance Company - An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - Pure risks are insurable but Speculative risks a...

Florida Claims Adjuster Exam 2023 1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 5. Concealment: Th...

SC Real Estate Review 2024 Questions and Answers 100% Pass The ___ establishes an agency relationship between the prop owner as principal and the brokerage as agent - Correct Answer ️️ -listing agreement the LA does which of the following - Correct Answer ️️ -creates an agency relationship between the listing brokerage and the property owner a brokerage agreement whereby the property owner hires 1+ brokerages, agrees to compensate only 1 brokerage who produces a buyer, and reserve...

EC 250 Final Exam - Questions and Answers (Complete Solutions) The biggest economic problem at present is a) decline in output b) high inflation c) bear market in stocks d) high unemployment The effect of last two recession on the US unemployment was, compared to unemployment in Canada a) greater in both the Pandemic and the Great recessions b) greater in the Pandemic recession but not in the Great recession c) smaller in the Pandemic recession but greater in the Great recession d) smaller in ...

KY Real Estate Exam Questions with 100% Correct Answers | Verified | Latest Update Accretion Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License License to act as intermediary on behalf of others for a com...

Bilateral correct answersWhat is a type of contract in which two parties are legally bound to act? Functional Obsolence correct answersWhat is one kind of real property depreciation caused by poor design? Grantee correct answersWhat is the name of the party who aquires the title to real property in a deed? Biennial correct answersWhat is one word that indicates how often a PA salesperson's license is required to be renewed? Testate correct answersWhat is the condition called when a ...

COLORADO CONTRACTS AND REGULATIONS PT. 2 EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. In a transaction with a listing broker and a broker acting as. buyers agent, who normally holds the earnest money? - -the listing broker when a broker and a buyer enter into an exclusive right to buy contract; the: - -buyer is bound to work with only one broker during the contract in the exclusive fight to buy contract agreement, regarding the commission --the buyers broker might share in ...

NJ Real Estate contracts Test with Complete Solutions Acceptance - Answer-Voluntary expression by the offeree to be bound by the exact terms of the offer; must be unconditional Assignment - Answer-The method or manner by which a right or contract such as a lease or mortgage is transferred from one person to another Binder - Answer-An agreement to cover s down payment for the purchase of real estate as evidence of good faith on the part of the purchaser; shows the receipt of a deposit and ...

What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with...