ASREB TEST EXAM 2023 /2024 WITH 100% CORRECT ANSWERS

Who does a salesperson represent? A. Client B. Customer C. Employing Broker D. Co-operating Broker - correct answer Employing broker when must licensee report criminal conviction - correct answer 10 days licensed mortgage loan originators are registered through - correct answer Nation Wide Mortgage Licensing System a clause in real estate transactions allows adjustments of payments up or down - correct answer escalation clause escrow company may disperse commissions directly to salesperson if - correct answer escrow agent gets written permissions for each transaction who can receive referral fee for out of state referrals - correct answer licensed agents (NO unlicensed people! i.e. ( anyone who makes referral is WRONG) If the trust account is interest-bearing, then the interest must be cleared - correct answer once annually property damaged due to fire, tenant can terminate lease with - correct answer 14 day written notice broker is required by law to reconcile trust account - correct answer at least once a month application for variance would most likely show as - correct answer spot zoning Buyer wants to know his cash on cash return. What is he most interested in? - correct answer price paid non- disturbance clause most benefits - correct answer lesee "crack in the earth opening from aquifers - correct answer groundwater overdraft buyer buys parcel of land, what happens with mineral rights - correct answer transfer with buyer When the county assessor evaluates real estate for the purpose of taxation, this is called: - correct answer assessed value what is the max amount fixer/ flipper may make without using a licensed contractor - correct answer $1000 when people w