Affiliate broker - Study guides, Class notes & Summaries

1. The fewer properties on the market, the greater the scarcity. What's the effect on prices? Prices are pushed upward 1. Frank owns a property on which there is walkway to the beach shared by his neighbors on either side. What is Frank's property? · Servient estate 1. Simon is looking for a facility for a large grocery distribution operation. He found two options, one of which is offering him a triple net lease, and the other an absolute net lease. Why is his attorney arguing...

PSI National Affiliate Broker Test Exam With 100% Correct Answers 2024

acceleration a provision in a mortgage, lease or land contract, which gives the lender, lessor or vendor the option of declaring the entire balance due upon any default of the borrower, lessee or vendee acceptance the receipt of a deed or other thing with the intention of retaining it; agreement to terms offered, agreement by drawee of negotiable paper to pay same; consent to an offer or contract accession the right to all which one's property produces; acquiring property prope...

The land description T3N, R4W Principal Meridian refers to what method of property description? Rectangular Survey Two lots the same size are sold on a street the lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following characteristics most likely explains the price difference? a) Uniqueness b)Situs c)indestructibility d)permanence of investment B)Situs A major difference between freehold and nonfreehold estate is that all fr...

A licensee negotiates the sale of a home intended for his fiancée and himself. He properly identifies himself as a licensee to the seller but neglects to disclose that he is getting married to the buyer. Do the actions of the licensee violate the license law? Yes, because a licensee cannot purchase or negotiate the sale of property in which the licensee will have a future interest. Yes, because the licensee did not disclose his possible future interest to the seller. No, because a licensee...

Tennessee Affiliate Broker Exam

Brokerage correct answer: The business of bringing buyers and sellers together Agency correct answer: A broker hired to represent a client in negotiating contracts Independent contractor correct answer: The majority of contractors Paid 100% compensation Responsible for taxes and insurance Employee correct answer: Paid portion of commissions Broker responsible for taxes and insurance Gross correct answer: We get paid on _________ sales Single agency correct answer: A broke...

[CH.2] (National Math) Tennessee Affiliate Broker Pre-license Course exam with 100% correct ansJohn bought an odd-shaped lot that was 100 feet deep, but the front footage was 160 feet and the length of the back side of the lot was 80 feet. What is the square footage of his lot? 12,000 SF Terry bought a home that home that had an attached one-car garage and a screened porch that spanned the length of the home. If the garage measured 16' in depth which was half the depth of the house and ...

Affiliate Broker Test Questions and answers latest update 2024

The Tennessee Human Rights Commission (THRC) correct answer: enforces fair housing laws in the state. Exemptions to Tennesse's Human Rights Act are: correct answer: 1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Rental of a room or rooming unit in a housing accommodation that shares a common bath (and only in regards to sex as a protected class). 3. Sale, rental, or preference of a d...