A mortgage broker - Study guides, Class notes & Summaries

RECA Mortgage broker; Questions and Answers 100% Solved How are representation relationships typically established? Correct answer Estoppel Representation relationships can be established by: agreement, implication, ratification, estoppel, or operation of law What is the highest form of private land ownership in Alberta? Correct answer Fee simple Fee simple ownership is the highest form of private land ownership as it gives the owner the most ownership rights, and the owner controls...

A licensee was showing property in an eight-unit complex to a prospective tenant using a motorized wheelchair. The tenant wanted to rent a unit, install grab bars in the bathroom, and lower all the door handles. The landlord... - Must allow the tenant to make the modifications at the tenants expense, but can require, by the terms of the lease, restoration of the property Which of the following is the best description of a fee simple estate? - The most complete ownership in property that one...

The final step a licensee will take when preparing a CMA is: 1. Choosing comparables 2. Estimating a reasonable selling price range 3. Making adjustments to comparables 4. Collecting and analyzing information - Answer- CORRECT ANSWER: Estimating a reasonable selling price range A broker price opinion must include what the price was based on and: 1. License number 2. The broker's phone number 3. Applicable market data 4. A legal description - Answer- CORRECT ANSWER: Applic...

RECA Mortgage broker; Questions and Answers 100% Solved The class of license needed for the operation of the real estate business Correct answer Brokerage First license earned when entering the real estate profession Correct answer Associate Three components of Leadership Correct answer Authority, responsibility and accountability Broker assigning duties to other qualified real estate professionals Correct answer Broker Delegation All the necessary education components to being a broker...

Reca Mortgage Broker Real Exam Question And Answers Latest Update

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

Florida Mortgage broker Exam with verified solutions already graded A+

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorati...

Unit 3 - Virginia License Law and Math Practice Exam With 100% Correct Answers 2024 ____ leases have "automatic renewal" clauses, stating that the lease will automatically renew with the same terms unless one of the parties notifies the other party in writing within a specified number of days before the termination of the lease. all most few none - answermost Phillip advised his clients they needed to paint their master bedroom before showing the property. The walls of this room were...