100 Terms in this set
The CE Shop Review Assessment Questions &
Answers Latest Update
With this type of loan, personal property Package mortgage
is included with the real property in the
sale. It's commonly seen in commercial
real estate, but you may also see this in
the sale of furnished condominiums.
Which product's fibers are dangerous Absestos
when inhaled because they can lodge in
the lungs and intestines, causing cancer?
Sally and Pete are city dwellers who have Agricultural
always dreamed of living in a rural setting.
When Pete inherits a 600-acre cattle
ranch from his uncle, they don't waste a
moment packing up and moving to the
ranch. What category of real estate is
their new home considered?
Shannon's rural property in San Diego Shannon has a riparian right to use the water flowing across her property as a
County has a small stream that runs water source for her animals, though she may not divert the water.
across one corner where her horses are
pastured, and her horses use it as a water
source. What's true about this situation?
Standard subdivision
Which type of subdivision is defined as
parcels of land that purchasers own
*Any subdivision that is sold with no common areas and is smaller than 160 acres is
individually, with no commonly owned
considered to be a standard subdivision. Lots can be fully or only partially
areas?
improved, but must at least have utilities installed.
What's the first step an appraiser will State the problem
perform when conducting an appraisal?
Which of the following professional Certified Property Manager
certifications for property managers
applies to an individual?
, 100 Terms in this set
A real estate licensee and his client fulfill Never
the listing agreement, and the agency
relationship is terminated. At what point
did the agent's fiduciary duty of
confidentiality to this client terminate?
A buyer is purchasing a property for $450k
$500,000. His lender's loan-to-value ratio
is 90%. How much is the buyer financing?
What does the Real Estate Commissioner Determines real estate policy and issues regulations to enforce law
do?
Which of the following is a true statement The loan that's guaranteed will be based on either 100% of the sales price or 100%
about U.S. Department of Veterans Affairs of the CRV, whichever is less.
loans?
Rachel loves convenience. As you can Savings and loan
imagine, she was thrilled when she was
able to finance her mortgage through the
same institution where she deposits her
payroll checks. Which of these most likely
financed Rachel's mortgage?
Your clients have made an offer to Buyers have 3 days after the delivery of the TDS to rescind the purchase
purchase on a beautiful home that is in a agreement.
perfect location for their family. The offer
is accepted. A week later, the seller's
agent finally provides the TDS and other
required disclosures. To everyone's
dismay, the disclosures show that there
are some serious issues that were not
apparent in your visual inspection. What
can your buyers do?
What can brokerages do to ensure Have a solid policies and procedures manual in place.
licensees use technology properly?
If Acme Bank, a primary lender, wants to Fannie Mae and Freddie Mac Guidelines
sell its loans on the secondary market, it
would be easier for it to do so if its loans *If Acme Bank meets Fannie Mae and Freddie Mac guidelines, its loans are
meet _. conforming and are easier to sell on the secondary market.
Which of these might bring a charge of When working with single female clients, Cassandra is careful to promote
illegal steering against a licensee? properties in neighborhoods she considers safe.
Lenny is the listing agent for a property Lenny presents all formal written offers as they come in, discussing the merits and
built in 1901. Old homes are very desirable drawbacks of each, but ultimately lets the owner decide what action to take.
in this area, and Lenny is expecting a fair
amount of interest and multiple offers at
the planned open house. Which action
best demonstrates good faith to his seller
client in this scenario?
Which of the following statements A seller's agent represents the seller, while the buyer's agent represents the buyer.
regarding buyer and seller agency is
true?
A form of depreciation or loss in value Functional obsolescence
caused by defects in design is called
_______.
The CE Shop Review Assessment Questions &
Answers Latest Update
With this type of loan, personal property Package mortgage
is included with the real property in the
sale. It's commonly seen in commercial
real estate, but you may also see this in
the sale of furnished condominiums.
Which product's fibers are dangerous Absestos
when inhaled because they can lodge in
the lungs and intestines, causing cancer?
Sally and Pete are city dwellers who have Agricultural
always dreamed of living in a rural setting.
When Pete inherits a 600-acre cattle
ranch from his uncle, they don't waste a
moment packing up and moving to the
ranch. What category of real estate is
their new home considered?
Shannon's rural property in San Diego Shannon has a riparian right to use the water flowing across her property as a
County has a small stream that runs water source for her animals, though she may not divert the water.
across one corner where her horses are
pastured, and her horses use it as a water
source. What's true about this situation?
Standard subdivision
Which type of subdivision is defined as
parcels of land that purchasers own
*Any subdivision that is sold with no common areas and is smaller than 160 acres is
individually, with no commonly owned
considered to be a standard subdivision. Lots can be fully or only partially
areas?
improved, but must at least have utilities installed.
What's the first step an appraiser will State the problem
perform when conducting an appraisal?
Which of the following professional Certified Property Manager
certifications for property managers
applies to an individual?
, 100 Terms in this set
A real estate licensee and his client fulfill Never
the listing agreement, and the agency
relationship is terminated. At what point
did the agent's fiduciary duty of
confidentiality to this client terminate?
A buyer is purchasing a property for $450k
$500,000. His lender's loan-to-value ratio
is 90%. How much is the buyer financing?
What does the Real Estate Commissioner Determines real estate policy and issues regulations to enforce law
do?
Which of the following is a true statement The loan that's guaranteed will be based on either 100% of the sales price or 100%
about U.S. Department of Veterans Affairs of the CRV, whichever is less.
loans?
Rachel loves convenience. As you can Savings and loan
imagine, she was thrilled when she was
able to finance her mortgage through the
same institution where she deposits her
payroll checks. Which of these most likely
financed Rachel's mortgage?
Your clients have made an offer to Buyers have 3 days after the delivery of the TDS to rescind the purchase
purchase on a beautiful home that is in a agreement.
perfect location for their family. The offer
is accepted. A week later, the seller's
agent finally provides the TDS and other
required disclosures. To everyone's
dismay, the disclosures show that there
are some serious issues that were not
apparent in your visual inspection. What
can your buyers do?
What can brokerages do to ensure Have a solid policies and procedures manual in place.
licensees use technology properly?
If Acme Bank, a primary lender, wants to Fannie Mae and Freddie Mac Guidelines
sell its loans on the secondary market, it
would be easier for it to do so if its loans *If Acme Bank meets Fannie Mae and Freddie Mac guidelines, its loans are
meet _. conforming and are easier to sell on the secondary market.
Which of these might bring a charge of When working with single female clients, Cassandra is careful to promote
illegal steering against a licensee? properties in neighborhoods she considers safe.
Lenny is the listing agent for a property Lenny presents all formal written offers as they come in, discussing the merits and
built in 1901. Old homes are very desirable drawbacks of each, but ultimately lets the owner decide what action to take.
in this area, and Lenny is expecting a fair
amount of interest and multiple offers at
the planned open house. Which action
best demonstrates good faith to his seller
client in this scenario?
Which of the following statements A seller's agent represents the seller, while the buyer's agent represents the buyer.
regarding buyer and seller agency is
true?
A form of depreciation or loss in value Functional obsolescence
caused by defects in design is called
_______.
