Kansas real estate - Study guides, Class notes & Summaries

Arkansas real estate questions and answers already graded A Broker a person who is paid to buy and sell for someone else Licensee A person who has satisfied the requirements of a licensing agency, as authorized by state legislation. Who can perform brokerage activities on behalf of the broker. Appraisals Process of developing an opinion of a property's market value. Property manager A person or company hired to maintain and manage property on behalf of the property owner Financing Is the bu...

Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres 2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show his assurance of title? A. Special B. Quitclaim C. General warranty D. Perma...

Arkansas Real Estate Exam Verified Answers principal broker an individual who performs certain real estate services for another party for compensation. ultimately responsible for the company's activities, notably the activities of other licensees as well as the business's trust accounts. real estate duties not requiring license Delivery of a lease application or lease. Receiving a lease or lease application for delivery to the principal broker, real estate firm, or owner. Receiving...

Arkansas Real Estate Exam Verified Answers Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres ️2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show his assurance of title? A....

What is the purpose of license law? Correct Answer To protect the public, safety, and welfare. Can an associate broker have supervisory authority? Correct Answer No Does an executive broker have to be under supervision? Correct Answer Yes To who made an executive broker exercise supervision over? Correct Answer Executive brokers and sales persons To participate in real estate auction, must the auctioneer and ringman both hold a real estate license? Correct Answer Yes Define "prin...

Kansas Real Estate Test Guaranteed Success In deciding on whether to make a residential home loan, a lender would normally consider the borrower's debt to income ratio A property sold for $200,000 with an 80% loan to value ratio. The lender charged 1 discount point in connection with the loan. What was the amount for the discount points? $1,600 A buyer is inquiring as to what the principal and interest payment will be on a property that is being purchased. Where would be the best pl...

A.A.I.D. - Steps of Advertising This acronym describes the process of grabbing attention through advertising. Attention - ad must grab people's attention Action - ad must inspire action Interest - ad must lead to greater interest beyond initial attention Desire - ad must appeal to the audience's needs and wants A.C.O.L.D - Duties of a Fiduciary Relationship This acronym describes the relationship between a real estate agent and a client. Accountable - agent must account for...

Commission meetings: a. Are whenever possible b. Are on the first Monday following the second Tuesday of every month c. Can be called by a majority d. Are twice a year at a time designated by the commission - C. Can be called by a majority Meetings of the commission are held: a. At the commission's office b. At the board room c. In private d. At a public facility - A. At the commission's office An appearance before the commission: a. Is mandatory if subpoenaed b. Is required of all...

Arkansas Real Estate License Law Verified Answers A property management agreement is a written contract between the owner and property manager The answer is owner and property manager. A property management agreement is a written contract between the owner and the property manager. How are members of the Arkansas Real Estate Commission's board selected? Appointed by the governor The answer is appointed by the governor. The members of the board are appointed by the governor and app...

A property management agreement is a written contract between theowner and property manager The answer is owner and property manager. A property management agreement is a written contract between the owner and the property manager. How are members of the Arkansas Real Estate Commission's board selected?Appointed by the governor The answer is appointed by the governor. The members of the board are appointed by the governor and approved by the senate. Arkansas license law requires tha...