Testamentary - Study guides, Class notes & Summaries

Steven put down $10,000 toward a property's purchase price, financed the rest, and now has a cash flow of $2,800 after repairs and debt service. What's his ROI? a 21% b 26% c 28% d 32% - c 28% Return on investment or ROI = cash flow ÷ cash investment. $2,800 ÷ $10,000 = 28%. What's a legal agreement or promise made between two parties? a. A consideration b. A covenant c. A handshake d. A negotiation - b. A covenant A legal agreement or promise made between two parties is a covena...

The Virginia Real Estate Board may issue real estate licenses to all of the following, except a Virginia Association. non-resident testamentary trust. Virginia Limited Liability Company. Virginia partnership. - ANSWER-non-resident testamentary trust. Which of the following people involved in a real estate transaction are "Principal to a transaction" according to Virginia real estate law? Selling broker buyer Listing broker appraiser - ANSWER-buyer A person or business entity...

Escrow Sample Test Questions and Answers Rated A An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...

Escrow Sample Test – Utah 100% Correct Score An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - Correct Answer ️️ -(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have closing docum...

Performing what activity is exempt from holding a Virginia real estate license? - ANSWER-trustee performing their duties under a living trust instrument Any person, or business entity of not more than two persons, who for compensation is employed either directly or indirectly by, or affiliated as an independent contractor with, a real estate broker, to sell or offer to sell, or to buy or offer to buy real estate, describes which of the following? - ANSWER-Real estate salesperson The minimu...

Capital Campaign ~~>A carefully organized, highly structured fundraising program using volunteers supported by staff and consultants to raise funds for specific needs, to be met in a specific time frame, with a specific dollar goal. Allows donors to pledge gifts to be paid over a period of years. Community Foundation ~~>A philanthropic foundation that is specifically committed to the support of institutions in it's own community, often receiving bequest from persons whose l...

PRITE TEST BANK QUESTIONS AND REVISED ANSWERS (VERIFIED ANSWERS) LATEST UPDATE 100% FULLY SOLVED What are the core psychiatric principles? - Answer- Justice, Beneficence, Autonomy, Nonmaleficence Pt who is poor but talented asks if he can barter for services. You like the pt's product. What best describes the nature of this proposal to accept goods in lieu of fees - Answer- It is not recommended as it may compromise treatment boundaries Psychiatrist wishes to charge pts for appoi...

PVL2602 LAW OF SUCESSION SUMMARISED EXAM NOTES 2023 1 Introduction to law of succession: When a person dies he or she leaves behind not family/friends but more importantly for our purposes rights and duties that have to be finalized. The law of succession deals with the finalization of the debt and assets the deceased leaves behind. Law of succession – comprises those legal rules or norms which regulate the devolution of a deceased person’s estate upon one or more persons. Thus the ...

When may the Board adjust the required hours for re-licensure of a broker and salesperson? - ANSWER-Year-by-year basis Performing what activity is exempt from holding a Virginia real estate license? - ANSWER-trustee performing their duties under a living trust instrument Any person, or business entity of not more than two persons, who for compensation is employed either directly or indirectly by, or affiliated as an independent contractor with, a real estate broker, to sell or offer to sel...

Paralegal Exam - Civil Litigation Test Questions with Answers Latest 2024/2025 (100% Correct) Dismissal with Prejudice - A document filed with the clerk of court that ends a lawsuit, and by its terms states that no other lawsuits may be brought by the same persons on the same subject matter or claims, is called a... Dismissal without Prejudice - A document filed with the clerk of court that ends a lawsuit, but allows another lawsuit to be brought by the same persons on the same subject matt...