Principles of Real Estate Exam With 100% Correct Answers 2024

Principles of Real Estate Exam With 100% Correct Answers 2024 The Transfer Disclosure Statement (TDS) is required in which type of transaction? A) Sales involving co-owners B) Sales involving federally regulated lenders C) Sales involving one-to-four-family dwellings, except for specified exempt transactions D) Only in "as-is" sales - answerC) Sales involving one-to four-family dwellings, except for specified exempt transactions To qualify for a real estate broker's license, a person must complete A) eight college-level courses. B) a two-year AA degree. C) two college-level courses within 18 months D) a four-year college degree. - answerD) a four-year college degree The appraisal principle of regression provides that a property of higher value tends to decrease in value when surrounded by properties of A) lower value B) Higher income C) lower capitalization D) different character - answerA) lower value An easement by prescription terminates after nonuse for A) 1 year. B) 3 months. C) 5 years. D) 180 days. - answerC) 5 years. The second property tax installment becomes delinquent on A) November 1 B) December 10 C) April 10 D) February 1 - answerC) April 10 In a township, the section north of Section 10 is A) Section 22 B) Section 7 C) Section 12 D) Section 3 - answerD) Section 3 When property is used to secure payment of a debt or obligation, a lien on the property is given by the borrower, who is called A) The mortgagor B) The Trustee C) The Lender D) The mortgagee - answerA) The Mortgagor When a person dies without a will, the person is said to have died A) intestate B) with a devise C) with a bequest D) Testate - answerA) intestate The Real Estate Commissioner's regulations have A) never been enforced. B) authority only over the BRE staff. C) the same force and effect as law. D) no impact on licensees - answerC) the same force and effect as law. Which of the following is NOT an example of actual fraud A) lying B) Misrepresentations made without fraudulent intent C) suppressing known facts D) a promise made without any intention of performing it - answerB) Misrepresentations made without fraudulent intent A deed that makes no express or implied warranties that the grantor owns any interest in a property is A) a warranty deed B) a trust deed C) a grant deed D) a quitclaim deed - answerD) a quitclaim deed An easement that is acquired by a use that is hostile to the interests of the owner is an easement by A) prescription B) condemnation C) implication of law D) express grant - answerA) prescription A fictitious business name statement must be renewed every A) four years B) year C) 18 months D) five years - answerD) five years A gas company that does not own adjacen