Arkansas Real Estate Exam Study Guide

Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres 2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show his assurance of title? A. Special B. Quitclaim C. General warranty D. Permanent C. General warranty Licensee chad works for broker Michael. Licensee Chad has a listing agreement with seller Ray. Licensee Chad decided to transfer brokers. what will most likely happen with chad's listing? A. It will stay with Michael's brokerage B. It will be automatically terminated C. It will go with chad D. It will be transfer to an unbiased brokerage A. It will stay with Michael's brokerage A power of sale clause is required for A. deed in lieu B. a non-judicial foreclosure C. a judicial foreclosure D. a temporary foreclosure B. a non-judicial foreclosure Good springs has a tax base of $90,000,000 and a budget of $1,100,000. What is the tax rate in terms of mills? A. 12.2 mills B. 1.2 mills C. 8.2 mills D. 2.1 mills 1,100,00/90,000,000 = .0122