CHAMPION REAL ESTATE TESTS COMPILATION BUNDLE

Search Engine Optimization (SEO) correct answer: The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Fcebook Live correct answer: Video streaming through facebook. CoStar Database co...

Buyer Representation Agreement correct answer: An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency correct answer: Agency as a result of customary, usual or typical conditions Broker correct answer: A properly licensed party who serves a principal in a...

Loan-to-Value Ratio (LTV) correct answer: The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Packag...

brokerage correct answer: the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager correct answer: Generally responsible for the da...

Champions School of Real Estate (Real Estate Salesperson State Prep Exam 1) Questions With Complete Solutions

In ______ the Texas Real Estate Commission was established to administer and enforce the TRELA. correct answer: 1949 TREC has only _______ promulgated lease forms. correct answer: 2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is ...

A freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of (a) scarcity (b) Fixity (c) Situs (d) Modification correct answer: D The supply of Real Estate is aff...

Chapter 4 National Real Estate Exam Prep (Champions School of Real estate) Questions With Complete Solutions

a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification correct answer: D.) Modification The supply of Real ...

appurtenance correct answer: term used to describe rights, privileges or improvements that belong to and pass with the land improvements correct answer: man's additions to the land such as building and landscaping personal property correct answer: also called chattel or personalty; a right...

The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price correct answer: B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting...

The principal is also known as correct answer: client fiduciary relationship correct answer: a relationship founded on trust and confidence Agency Relationship correct answer: Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal corr...

if you are holding undeveloped land, your goal as an investment is: correct answer: appreciation land is referred to as _____ because it can be seen touched correct answer: tangible Formaldehyde gas is: correct answer: Colorless Local governments can use which of the following to enforce...

Appurtenance correct answer: rights, privilege or iimprovements that belong to and pass with the land Personal Property Synonyms correct answer: -Chattel -Personalty Annexation correct answer: -Fixtures are attached to property via _______ Emblements correct answer: -crops cultivated a...