Michigan broker - Study guides, Class notes & Summaries

PSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% AccuratePSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% AccuratePSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% AccuratePSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% Accurate Designated Agent - ANSWER-A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two...

Real Estate - Michigan License Law Verified Guide When a licensed broker changes his or her place of business: 1 - The Department will issue a new license immediately. 2 - The Department could choose to revoke the license if the broker fails to give proper notification of the change. ️ 3 - A new license will be issued for a full three-year cycle. 4 - The Department must approve the change of address. (Answer: 2 - The Department could choose to revoke the license if the broker fai...

Michigan Real Estate Exam Questions Answer Key Current Update Department - Answer -department of licensing and affairs - 9 members (6 licensees / 3 general public) - issues licenses - Board - Answer -Board of real estate brokers and salepersons - in charge of revewal - sets penalties - aids department in licensure requirments Broker - Answer -Any person or other entity that with intent to receive compensation or valuable consideration for acts regarding real estate - buy/sell/exc...

PSI Real Estate Practice Exam - Michigan (Chapter 1)Designated Agent - correct answer A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - correct answer What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assign...

MLO SAFE Test 2024 (Michigan) with Complete Solutions Dodd-Frank - Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 - Changed oversight & capitalization of financial institutions, added licensing an education standards, and limited riskier products in the marketplace - Established the CFPB - Defined and specifically outlawed UDAAPs CFPB - Consumer Financial Protection Bureau - The Bureau - Oversees and enforces Dodd-Frank specifically to protect consumers fr...

PSI Real Estate Practice Exam - Michigan (Chapter 1) Questions with complete solution 2023/2024Designated Agent - correct answer A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - correct answer What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant...

Michigan Real Estate Broker Exam Study And Glossary Questions And Answers With Verified Solutions Already Passed!!!

Michigan Real Estate - Unit 27: Contractual Relationships - Multiple Choice "When a buyer declines to sign a buyer representation agreement with the broker, and the brokerage's policy prohibits the broker from acting as a transaction coordinator, A) the broker assumes the role of a subagent to the listing broker. B) the brokerage may face repercussions from the Department unless it allows for the option of becoming a transaction coordinator. C) the licensee remains obligated to up...

Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) "Which of the following is TRUE about Michigan transfer tax? A)Transfer tax is a charge to the buyer at the closing. B)Transfer tax is calculated on the sale price of the real estate ...

Designated Agent - ANSWER A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - ANSWER What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assignee" - ANSWER Charlie is the personal assistant for the top producer...