Real Estate Practice Tests. This conversion of real property to personal property is an example of. ... Will I have a real estate license after I take the pre-licensing course? What is the construction cost of the house, Permission granted to hunt on another's land is an example of. Typically a listing broker is usually considered to be? What was the appraised value of the property. 7��kI+��X\�q9;� a�>!>I��� �X��:� ��v!H��U�:#��t/tZrX��IIh�͐��G�=�$�^J�+՗]΅��hC’��bv��z�\crk'�gj�ٱ�MJ����.��Z�e��R̞沘��b ��. Now it’s time to pass the RealEstateU final exam! Course Final Exam … If you want the best chance of passing the real estate license exam the first time – you … A person who is authorized to whether that another is the: A(n)_________is a parcel of real property that is owned and occupied as a family home, A broker representing the seller does not owe the purchaser (customer), assistance in negotiations to purchase the property at below the list price, An analysis that results in an opinion of value is, Which of the following is the best way to ensure that there are no encroachments and verify the boundaries of a parcel of land. endobj Which deed is most commonly used in the United States? as long as the home owners were pay compensation for the properties, Some tax and bodies recognize that local assessments can lead to unfairly high or low values for properties in certain areas. He discovered that there were already several liens against the property. A house so for $350,000 the buyer made a 20% down payment. The listing with this type of provision is known as, A term used in describing the boundary lines of land and also used to describe irregular peices of property, An extension of credit from a seller to a buyer to allow the buyer to complete the transaction is called a, Buildings that were erected before the enactment of the zoning ordinance in do not comply with the zoning limitations are called. Undue Influence or duress applied to one party to a contract makes the contract, A 2 story house measures 48' by 28' and costs $70.00 per square foot to build. You will be given 2-4 hours to complete the exam. In order for a tenant claim relief for constructive eviction: the landlord must have intentionally withheld required repairs or maintenance. Real Estate Finance 30 Final Exam & Answer Key. If a borrower must pay $6000 for points on a $150,000 loan how many points is the lender charging for this loan? A building sold for $157,000. Complete the Final Exam. Take the exam, and then grade it using the answer key on the last page. Choose your answers to the questions and click 'Next' to see the next set of questions. Access study documents, get answers to your study questions, and connect with real tutors for REALESTATE FINAL EXAM at CA Realty School . The substitution, by agreement, of a new contract for an old one, with the rights under the old one being terminated. Learn vocabulary, terms, and more with flashcards, games, and other study tools. You must answer … a property priced at $360,000 has gross income of $60,000 and … Sign in to your account to view your continuing education classes, review the materials, and print your certificate. What was the total value of the property? According to the Real Estate Settlement Procedures Act, the lender is required to furnish the borrower with the good faith estimate of closing costs _____. Can the plumber place a mechanic's lien on the free and clear property? As a seller's agent, you sell a house for $135,000. Total interest paid on a 30 year straight note was $230,000 during the term of the loan. What are the 2 primary types of property taxes? A person who has the entire bundle of rights in a parcel of real estate unencumbered by deed conditions is said to own a, caused by failure to disclose information when there is a duty to do so, The benefit, interest or value that induces the parties to enter into a contract is known as. The Federal Communications Commission provides a list of phone numbers of customers who do now want to be contacted by telemarketers including real estate licensees this is commonly called, What is the cubic footage of a driveway them measures 60ft long 8ft wide and is 3 inches deep, A recorded legal document that gives constructive notice that an action affecting a certain property as has been filed in court is called. The 2 remaining joint tenants now on 1/2 of the property each as joint tenants, Is quit claiming a action of voluntary or involuntary, It is always voluntary in is usually used to clear up minor title issues, Encouraging owners to sell their properties because minorities are moving into a neighborhood, A property owner lists his property for sale with a broker. <>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> 2 0 obj Let's keep it simple: The real estate exam is like any exam you've taken in formal education. Over 200 Practice Questions for State Exam; HOW TO PASS THE LICENSE EXAM THE FIRST TIME. During the negotiations, the owner told the broker that the owner wanted $138,000 for the property and anything above that amount the book or could keep as his commission. A lending institution will allow is borrowers to spend 28% percent of their income for housing expense what will be the maximum monthly payment allow for a family with an annual income of $57,000 and no other debts? 4 0 obj Under these circumstances, The buyer's interest is not fully be protected against 3rd parties, Which is true regarding the federal fair housing law. Which best describes the principle that a home a maintains its it's highest value in a neighborhood with similar homes and similar type housing? If the taxes totalled $11400 what was the value? Of the 100-150 questions, 60-80 will be state-specific questions, while the other 80-100 will be general real estate concepts. For all 300 Questions with complete sections check out the Real Estate Agent License Practice Exam - it will help you pass your State Real Estate Agent License Exam the first time. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Remember to always divide to find the value or rate, so in this case, $140/.035 = $4,000. If a borrower computed the interest charged for the previous month on his $60,000 loan balance as $412.50, what is the borrowers interest rate? endobj If Taylor property valued at $35,000 is assessed at 40% of its value in the mill Levy is 83, then what is Taylor's annual tax on the property? Monthly interest on the loan was $1400 what was the interest rate on the loan? We recommend that you print this 100-question practice exam. The listing and selling broker agree to split a 7% commission 50 50 on a $387,600 sale. Be sure to review the real estate … Knowledge and consent of the steps in the first time – you … 21 studying. % what was the loan on the loan company a referral 65,000 loan your answers and submit electronically grading! You print this 100-Question practice exam … the course Final real estate final exam answers there already. 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