Real esate practice exam - Study guides, Class notes & Summaries

REAL ESATE PRACTICE EXAM

REAL ESATE PRACTICE EXAM final 2024 correct Question and Answers Ella's house assessed for $91,000. The tax rate for city, county, and school taxes was 9.1 mills each. How much did she save in property taxes this year? $1,137.50 Total exemptions x Tax rate = Property tax savings. If a home has an assessed value above $75,000, the owner gets the base $25,000 exemption plus an additional $25,000 exemption on city and county taxes only. So, let's do school taxes first: $25,000 x 0.009...

Basic Licensing Terms: Active Status - ANSWER-Any broker salesperson that is legally engaging in regulated acts of real estate brokerage Basic Licensing Terms: Actively Engaged - ANSWER-One with an active licenses, engaged in at least 40 hours per week in regulated real estate activity. This applies to brokers experience requirement (must be salesperson for 36 of 48 months) and to licensees seeking reciprocity. Basic Licensing Terms: Applicant - ANSWER-One who applies to the Board for a re...

Champions Real Estate Exam: Law of Agency This person hires an agent - ANS The Principal The agent works on behalf of this person - ANS the client (principal) This type of agency allows for the greatest range of authority - ANS Universal This is provided to the agent when there is written documentation that the agency relationship exists. - ANS Express authority This is the most limited of all the agency relationships - ANS ...

Champions Real Estate Exam: Law of Agency Exam review guide_2022/2023. This person hires an agent The agent works on behalf of this person - This type of agency allows for the greatest range of authority - This is provided to the agent when there is written documentation that the agency relationship exists. - This is the most limited of all the agency relationships - This type of agency is created when a 3rd party believes that an agent has authority that has NOT been granted...

NC Real Estate School Exam Questions and Answers All Correct Who needs a real estate license - ANSWER any person or business entity who, for compensation, lists, leases, buys, exchanges, auctions, negotiates, or sells real property for others. Who does not need a real estate license - ANSWER an owner of a property deal for himself a crier at an auction a person acting as attorney-in-fact under a power of attorney a real esate appraiser a lawyer in the regular course of his/h...