Proration - Study guides, Class notes & Summaries

Colibri Practice Test Questions and Answers Already Passed 3. In real estate, which of the following is correct about the term "title?" Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, and initial escrow payment at closing - ...

AYPO Real Estate Principles of Real Estate II 2024 ACTUAL EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT) | A+ GRADE ASSURED If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) 270 square feet An applicant is allowed to use what electronic devices during the real estate exam? Handheld calculator Convert the following fraction to a decimal for ease of computation: 31/25 1.24 What...

the "Common Interest Community Governing Documents" subsection of the residential sales contract requires the "Governing" and "Financial" documents be delivered to buyer on or before the title Deadline by the: correct answers seller A major purpose of Commission Rule F is to: correct answers help brokers comply with the Colorado Supreme Court Conway-Bogue decision. A heavily encumbered property sells for $200,000.00 with anticipated total cash proceeds to the out-of-state seller of $...

Texas Principles of Real Estate II Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update Q: a lease for one year or less Answer: the only contract that does not have to be in writing to be enforceable Q: Attorney in Fact Answer: a person holding a power of attorney Q: substitution of a contract with another contract ie. counteroffer Answer: Novation Q: when one party fails to perform the duties of the contract-they can be asked by judge to partially perform or substatially p...

Amortization - correct answer -The repayment of a loan principle over time Arrears - correct answer -Payment for an item or service after it's received Down Payment - correct answer -The initial payment made when buying something on credit, a ____________ is paid directly by the buyer to the seller Proration - correct answer -The allocation or distribution of an annual expense across smaller chunks of time

Which of the following features is most likely to be the cause of an adjustment to a comparable when preparing a CMA? a. Busy street b. Color c. Demographics d. Interest rates - Answer-a. Busy street A busy street is less desirable for a residential property and more desirable for a commercial property. Other factors that could impact value are foreclosures, short sales, and cash-only sales. Blake is allowed to use his property in a way that's prohibited under current zoning ordinance...

NAB Financial Questions And Answers A balance sheet summarizes the firm's - ANS-assets, liabilities, net worth Owner's equity refers to the - ANS-interest in or claim on the assets of the business The ledger is a book of - ANS-individual accounts to which debits and credits are posted from the book of original entry Amortization is - ANS-declining proration of added cost The process of transferring financial data from the journal to the ledger is called - ANS-posting Payroll check shou...

Colibri Practice Test/ 140+ Questions with Definitive Solutions. Terms like: Economic or external obsolescence is a loss of value outside of the perimeter boundary of the property, beyond the owner's control, and almost always incurable. A homestead exemption in Florida is available to those who qualify and file documents making the Florida home a primary residence. The base homestead exemption is-Answer $25,000 The base homestead exemption is $25,000. There is an additional $25,000 ...

TFM - 08 EXAM 2024 LATEST VERSION ACTUAL EXAM 200+ QUESTIONS AND DETAILED CORRECT ANSWERS WITH EXPERTISE FEEDBACK ALREADY RANKED A+. How many days do you have to renew your RME and SCR? - ANSWER- 30 days with no late fee 31 days - 2 years with late fees What insurance is required by law to conduct work? - ANSWER- General liability with products and completed operations $100,000 bodily $300,000 aggregate What type of tag do you put when a building fails? - ANSWER- Red tag How long do...

Aceable Agent Principles of Real Estate 2 Key Terms Questions With Solutions 100% Correct Proration the allocation or distribution of an annual expense across smaller chunks of time. Appraisal the value of a property, based on factors determined by the opinion of a certified appraiser. General Data information about the area surrounding a property; this could include the city, region, and neighborhood in which the property is situated. Specific Data information regarding the proper...