Principles of Real Estate II Final Exam Questions With Correct Answers.

Principles of Real Estate II Final Exam
Questions With Correct Answers

1. //The //______________ //is //the //most //active //in //the //regulation //of //real //estate //licensees. //-
correct //answer(s) //✔✔ //d) //state //government
//




2. //Which //of //the //following //is //necessary //for //a //deed //of //conveyance //to //be //valid? //- //correct
answer(s) //✔✔ //b) //The //deed //must //be //in //writing
//




3. //The //primary //distinction //between //the //legal //concepts //of //real //estate //and //real //property
//is //that //- //correct //answer(s) //✔✔ //a) //real //property //includes //ownership //of //a //bundle //of
//rights.




4. //An //applicant //for //a //salesperson //license //must //- //correct //answer(s) //✔✔ //c) //have //a //finger
//printing //and //background //check //prior //to //receiving //a //license.




5. //TRELA //makes //provisions //for //- //correct //answer(s) //✔✔ //c) //a //prerequisite //of //a //minimum
//of //15 //classroom //hours //counted //toward //license //renewal //every //two //years.




6. //A(n) //______________ //is //a //freehold //estate //that //is //limited //to //the //duration //of //the //life
of //the //owner. //- //correct //answer(s) //✔✔ //b) //life //estate
//




7. //What //distinguishes //a //lien //from //other //types //of //encumbrance? //- //correct //answer(s) //✔✔
//a) //It //involves //a //monetary //claim //against //the //value //of //a //property.




8. //What //type //of //conventional //life //estate //ends //with //the //death //of //the //life //estate //owner?
- correct //answer(s) //✔✔ //b) //Ordinary //life //estate
// //

, 9. //When //speaking //of //real //estate //market //dynamics, //the //amount //of //available //properties
//that //becomes //occupied //over //a //period //of //time //is //called //- //correct //answer(s) //✔✔ //b)
//absorption.




10. //What //is //the //primary //danger //of //allowing //an //encroachment? //- //correct //answer(s) //✔✔
//c) //Over //time, //the //encroachment //may //become //an //easement //by //prescription //that


//damages //the //property's //market //value.




11. //What //statement //is //TRUE //of //payment //that //is //made //from //the //real //estate //recovery
//fund //on //account //of //a //licensee's //acts? //- //correct //answer(s) //✔✔ //d) //The //license //is
//suspended //immediately, //but //will //be //reissued //upon //reimbursement //of //the //fund, //with


//interest.




12. //A //salesperson //listed //a //home //and //then //transferred //his //license //to //another //broker.
//Which //of //the //following //is //true? //- //correct //answer(s) //✔✔ //d) //The //listing //will //stay //with
//the //original //broker.




13. //A //licensee //is //required //to //keep //the //Commission //updated //with //- //correct //answer(s)
✔✔ //a) //her //current //email //address.
//




14. //When //an //owner //leases //her //property, //she //temporarily //relinquishes //the //right //to //-
correct //answer(s) //✔✔ //c) //occupy //the //property.
//




15. //Which //education //requirement //can //a //person //leave //out //when //applying //for //a
//salesperson //license? //- //correct //answer(s) //✔✔ //a) //Evidence //of //a //degree //in //some //form //of
//postsecondary //education.




16. //Which //of //the //following //is //an //expense //which //would //be //listed //on //the //HUD-1 //Uniform
Settlement //Statement? //- //correct //answer(s) //✔✔ //b) //Title //insurance //fees
//