Ministerial acts - Study guides, Class notes & Summaries

Georgia MLS Practice Class Questions and Answers 100% Pass "Buy-down" describe a financing method that makes homes more affordable for prospective buyers by reducing payments in the early years of the loan. Regarding this loan technique, which of the following is true? Lenders are paid up front fees to lower the interest for a borrower in the first few years of the loan, however, negative amortization does not occur A broker has a listing for which the seller desires to net at leas...

In Louisiana, a "licensee" is - ANSWER-any person issued a license by the commission as a real estate salesperson. -any person issued a license by the commission as a real estate broker. Responding to a phone inquiry concerning the price of a property you have listed - ANSWERis a ministerial act Acting as a dual agent, licensees shall not disclose - ANSWER-confidential information about either client. -a price other than the listed price the seller may accept. -the price the buyer...

The purpose of the NH Real Estate Commission is to - Answer-License and regulate real estate agents Entry Only Listings (limited service listings) are - Answer-Considered listings and must comply with listing requirements Look up entry only listings - AnswerAppointing Agents - Answer-Appoint real estate licensees to represent clients in real estate offices that practice designated agency A fiduciary client relationship - Answer-Requires a contractual brokerage agreement what is fiduciary -...

The Commission's authority is based upon: - correct answer -Statutory law Agency can best be described as: - correct answer -A written representation agreement between Broker and client. Charging advance brokerage fees is: - correct answer -A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? - correct answer -They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? - correct answer...

NH Real Estate Exam Questions and Answers 100% Correct Score The purpose of the NH Real Estate Commission is to - Correct Answer ️️ -License and regulate real estate agents Entry Only Listings (limited service listings) are - Correct Answer ️️ -Considered listings and must comply with listing requirements Look up entry only listings - Correct Answer ️️ - Appointing Agents - Correct Answer ️️ -Appoint real estate licensees to represent clients in real estate offices that p...

The Commission's authority is based upon: - Statutory law Agency can best be described as: - A written representation agreement between Broker and client. Charging advance brokerage fees is: - A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? - They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? - Any new rules passed must not increase business costs without a compelling need. Wh...

NH Real Estate Exam Questions and Answers 100% Pass Purpose of NH Real Estate Commission - Correct Answer ️️ -License and regulate real estate agents. Entry Only Listings - Correct Answer ️️ -Considered listings and must comply with listing requirements Appointing Agents - Correct Answer ️️ -Appoint real estate licensees to represent clients in real estate offices that practice designated agency A fiduciary client relationship - Correct Answer ️️ -Requires a contractual b...

A landlord must return a security deposit to a tenant and pay the interest due within how many days? - 30 days Performing ministerial acts does not create an agency relationship providing the consumer is given a written what? - Agency Disclosure Copies of written instruments must be provided to any party executing documents in what amount of time? - without delay When listing a 1 to 4 family for sale, a licensee must ask the seller for the following information EXCEPT: a. private water su...

The Commission's authority is based upon: Statutory law Agency can best be described as: A written representation agreement between Broker and client. Charging advance brokerage fees is: A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? Any new rules passed must not increase business costs without a compelling need. Whic...

Barney Fletcher Test Review 2024 1. Open Listing (Non-Exclusive) - Ans ️️ May be given to many brokers. Only the broker who is the "procuring cause" gets paid. 2. Truth in Lending Act (Regulation Z) - Ans ️️ Requires meaningful disclosure of cost of credit including APR (Annual Percentage Rate). 3. Trust Accounts - Ans ️️ Holding valuables for others; Commingling-illegal mixing trust funds and own private funds; Can't be used for broker purposes; Can't be seized to use for...