Real Estate National Exam Question with accurate answers, 100% Accurate, rated A+
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Real Estate National Exam Question with accurate answers, 100% Accurate, rated A+
How does a creditor who has obtained a judgement get satisfaction against a debtor who will not pay? - -Writ of Execution
The economic characteristics of land are? - -Scarcity, location, and durability
What...
real estate national exam question with accurate answers
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Real Estate National Exam Question with
accurate answers, 100% Accurate, rated
A+
How does a creditor who has obtained a judgement get satisfaction against a debtor who will not pay? -
✔✔-Writ of Execution
The economic characteristics of land are? - ✔✔-Scarcity, location, and durability
What lease would best suit couples needs who are looking for temporary housing? - ✔✔-Month-to-
Month lease
The land description T3N, R4W Principal Meridian refers to what type of property description? - ✔✔-
Rectangular survey
Crops that require annual planting are generally considered to be? - ✔✔-Personal Property
A distinguishing characteristic of owning property by land trust is that? - ✔✔-The identity of the legal
owner is kept confidential
A lawsuit for reverse condemnation may be brought by the? - ✔✔-Homeowner
If conditions for purchase are included in a deed and these conditions are violated, what is the penalty?
- ✔✔-Return of the property to the original owner
When more than one approach to value is applied to a property and different indications of value are
produced, how should the final estimate of value be determined? - ✔✔-Reconciliation
, A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits
the lender to? - ✔✔-Demand immediate payment of the entire note
Too much leverage may result in? - ✔✔-Negative cash flow
A managing broker can be held responsible for? - ✔✔-All real estate activities of salespersons
Earnest money should be deposited into a trust account when? - ✔✔-In a timely manner
Why was the Jones vs Mayer decision of 1968 important? - ✔✔-By upholding the Civil Rights Act of 1866
A landlord may refuse to rent to a tenant who? - ✔✔-Has ever been convicted of selling illegal drugs
The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the
adjustment made at the closing? - ✔✔-Credit buyer $110,000, debit seller $110,000
In most states, foreclosed property is sold through? - ✔✔-Public auction
Depreciation is calculated based on? - ✔✔-Cost of the building only
A judgement has been properly recorded. Any subsequent purchasers have actually examined the
record or not, have been given? - ✔✔-Constructive notice
An agreement to purchase which has not been closed is? - ✔✔-An executory contract
An agency agreement between a property owner and a property manager is usually created by? - ✔✔-A
management agreement
Homes built before 1978 require? - ✔✔-the buyer to acknowledge disclosure of the presence of any
known lead paint
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