Michigan salespersons - Study guides, Class notes & Summaries

Michigan Real Estate - Unit 24: Duties and Powers of the Department and the Board - Multiple Choice "An individual acting in the capacity of a real estate licensee without a license A) may be required to pay a criminal fine of up to $10,000. B) will be censured by the Department. C) can have a limitation issued. D) is subject to 90 days in prison "D-Explanation: The answer is is subject to 90 days in prison. Operating without a license is a misdemeanor subject to a criminal...

*a real estate agent walked through a client's house. he noted 4 things: side yard is not maintained, lock on back door doesn't effectively latch, support beams in the basement are discolored and has some cracks, and some of the linoleum tiles in the kitchen are loose. Which of these items should he suggest to be professionally inspected? - ANSWER-the support beams in the basement *if the total cost of the loan is paid off in a set of scheduled payments across the term, the loan is... - ANS...

Michigan Residential Builder Construction Business Law graded A+ 2023 passedonly one at a time - correct answer A licensed salesman can work for how many builder or contractor at one time? Notes Payable - correct answer A company's assets should include all of the following except... An account payable - correct answer A debt owed to a supplier for goods or services purchased is called... under no circumstances - correct answer A licensed builder can legally accept a job or contract fr...

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 produ...

Real Estate - AYPO practice final exam *a real estate agent walked through a client's house. he noted 4 things: side yard is not maintained, lock on back door doesn't effectively latch, support beams in the basement are discolored and has some cracks, and some of the linoleum tiles in the kitchen are loose. Which of these items should he suggest to be professionally inspected? - ANS the support beams in the basement *if the total cost of the loan is paid off in a set of sche...

A layer of new wood on a tree just under the bark is called __________. · Xylem · Sap · Cambium · Phloem - Answer Cambium The Department and the __________ may remove a limitation. Hearing Examiner Director Board Commission - Answer Board A salesperson shall turn over money for a sale to their licensed builder Immediately Within 10 days Within 48 hours Anytime - Answer Immediately A newly constructed building cannot be used or occupied in whole or part without Certifica...

fully executed copies of all agreements, including plans and specifications - Answer The builder or contractor shall deliver to the customer, when construction is involved: builder - Answer Whitie Nowak built a house in January. It was sold in February and Renfru Zetz moved in at completion in September of the same year. The following year in December the pipes froze. Who's responsible for the damage? taking a builder's course and a one year apprenticeship - Answer Which is not a require...

Real Estate - AYPO Practice Final Exam With 100% Correct Answers 2024 *a real estate agent walked through a client's house. he noted 4 things: side yard is not maintained, lock on back door doesn't effectively latch, support beams in the basement are discolored and has some cracks, and some of the linoleum tiles in the kitchen are loose. Which of these items should he suggest to be professionally inspected? - answerthe support beams in the basement *if the total cost of the loan is paid...

A broker must: - ANSWER-Submit all written offers to the seller A salesperson successfully completes the licensing exam after completing the 40-hour prelicensing course. She does not have a broker for whom she is going to work. In this situation, the department will: - ANSWER-Hold the results of the exam for one year All of the following are specifically exempted from license law requirements EXCEPT: - ANSWER-A person who sells more than five houses in one year The legal authority of a ...

Real Estate Chapter 3-Michigan License Laws And Rules Questions And Answers With Verified Solutions Already Passed!!!