Real estate midterm exam - Study guides, Class notes & Summaries

Real Estate Midterm Exam Question and answers already passed 2024/2025 Real Estate Midterm Exam Two Types of Property: - correct answer 1.) Tangible: physical assets that can be owned (can be real or personal property). 2.) Intangible: non-physical assets (such as stocks, bonds, mortgages, leases, etc.). Real Estate: - correct answer - The physical/tangible land and its improvements. - For example, the Neutron Bomb destroys all life on Earth, there'e no real property left becaus...

1. The real estate market is local in nature what does that mean? - Answer Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up...

GA REAL ESTATE MIDTERM EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ A lien against all of the person's real and personal property owned - -General Lien A factor used to achieve uniformity in statewide tax assessments - -Equalization Factor A writ that establishes court custody of property until a pending lawsuit concludes - -Writ of Attachment A type of lien created by law - -Involuntary Lien A written agreement between lien holders to change the priority of a lien - -S...

Illinois Real Estate Midterm Exam Questions and Answers 100% CorrectIllinois Real Estate Midterm Exam Questions and Answers 100% CorrectIllinois Real Estate Midterm Exam Questions and Answers 100% CorrectIllinois Real Estate Midterm Exam Questions and Answers 100% CorrectIllinois Real Estate Midterm Exam Questions and Answers 100% CorrectReal estate is - ANSWER-land plus improvements An appurtenance is - ANSWER-anything associated with the property that transfers with ownership real proper...

California Real Estate Midterm Exam 2024.How is an individual selected to act as Real Estate Commissioner? - ANSWER The individual is appointed by the governor What does the Real Estate Advisory Commission do? - ANSWER Discusses real estate policy and makes recommendations to the Commissioner What is the California Bureau of Real Estate (CalBRE) responsible for? - ANSWER Regulating the real estate industry Where can California real estate law be found? - ANSWER In the Business and Profe...

What agency issues real estate licenses? - Answer NYS DOS, DIVISION OF LICENSING At what age can you become a real estate salesperson? - Answer 18 Do you need experience in the field to become a salesperson? - Answer No What is the minimum age to become a real estate broker? - Answer 20 Do you need experience in the field to become a broker? - Answer Yes, 3500 points (35hrs weekly for 100 weeks) If your license is revoked, how long do you have to wait to reapply - A...

1. Under the English legal system, legal disputes were settled: (Page 1) - Answer b) on a case-by-case basis before a judge. 2. Under Spanish civil law, legal disputes were settled by: (Page 1) - Answer d) pre-established statutes. 3. The federal and state governments are divided into the judicial and executive branches. (Page 2) - Answer c) legislative 4. Eminent domain the right of the government to: (Page 3) - Answer a) take private property for public use. 5. Which of...

An applicant for a real estate license may continue to attempt to pass the licensing exam for a period of - Answer 1 year In Louisiana, sub agency is - Answer Allowed only by a contractual agreement No associate broker or salesperson license may be renewed until - Answer The license of their sponsoring broker has been renewed All written offers to purchase real estate should be presented - Answer Immediately Corporate, limited liability company, and partnership brokers mu...

What is your status under the Internal Revenue code - Answer A statutory non-employee What is your status under NY Law, and where you are supervised by a Broker - Answer Independent Contractor How long are records to be maintained for - Answer 3 years Where do we get our license from - Answer NY State Department of State Division of Licensing Services How many hours of classes does a salesperson need? Broker? - Answer Salesperson = 75 / Broker = 120 What are the age requ...

What is your status under the Internal Revenue code - Answer A statutory non-employee What is your status under NY Law, and where you are supervised by a Broker - Answer Independent Contractor How long are records to be maintained for - Answer 3 years Where do we get our license from - Answer NY State Department of State Division of Licensing Services How many hours of classes does a salesperson need? Broker? - Answer Salesperson = 75 / Broker = 120 What are the age requ...