Real Estate National Exam Questions and Answers 100% Pass

Real Estate National Exam Questions and Answers 100% Pass What are considered trigger terms? Interest rate, payment amount, down payment #of payments, term of the loan, cost to close.. any financial term except APR A borrower who was making payment on a loan was required to make a balloon payment at the end of the loan. This was most likely a? Partially Amortized Loan The buyer receives a seller's property condition disclose in which the buyers agent believes the seller has misrepresented the condition of the property. The buyers agent should? Suggest an Inspection An agreement between brokers to change a specific commission rate: Illegally inhibits competition/Antitrust laws Which of the following is not a good reason to reconnect the seller provide a home warranty? The fine home warranty company pays will increase the cash flow to the brokerage A buyer and seller signed a contract with buyer's financing contingency. The lender reject the loan to the buyer. What happens to the earnest deposit money? Buyer can get back the earnest deposit money because the contract is void Under a recession agreement? All parties returned to their original position and all monies must be returned The seller has a beautiful dining room ceiling fixture that matches his entire dining room set. If he sales contract does not specifically state whether the fixture is included in the sale or excluded from it the buyers agent can tell the buyer to expect that the dining room fixture will be? FIXTURE, IT STAYS UNLESS SPECIFIED OTHERWISE IN THE CONTRACT ( include in the sale because it is attached to the ceiling) A first year licensee without either a degree in finance or a strong background in re-investment should generally refrain from? Refrain from giving financial advise/commercial property What is NOT a necessary part of the process for changing zoning regulations? Voting A developer intends to subdivide a large parcel of land and is in process of land planning. He has determined the geographic boundaries of the individual lots and how the street in the development will be designed to give access to each lot. When can he begin to list for sale? Immediately A condominium complex is exempt from fair housing requirements regarding housing for families with children if it is? 65+ or THE 80/20 RULE... 80% of occuppied units must be occupied by at least one person 55 or older A salesperson just attended a class an using social media to further questions for real estate sales career. She was so excited about the class that she immediately came home and signed up for Fb, twitter, LinkedIn. She has chosen a listing to market via social networking a residence recently built to resemble an antebellum mansion. Which words or phrase may she lawfully include in her advertising. ANTEBELLUM STYLE MANSION Jane a licensee/salesperson purchasing land for her brothers John. Should she reveal her licensee status to the seller? YES & SHE SHOULD BE NOTIFIED IN WRITING Zoning is regulated by? Federal Government When a seller makes changes to the previous counteroffer can you? Counteroffer terminates and makes a new one