NATIONAL REAL ESTATE EXAM – Questions With
Applicable Solutions
Save Groups
Practice questions for this set
Learn 1 /7 Study using Learn
A bill of sale is for personal property; a deed is for real estate.
Choose an answer
In most cases, broker compensation, If a borrower is behind on payments,
1 as a percentage of home price, falls 2 the acceleration clause gives the
somewhere between: lender the ability to:
A square bedroom measures 10 feet
What is the difference between a bill
3 by 10 feet. What is the area of the 4
of sale and a deed?
room?
Don't know?
Terms in this set (164)
In most cases, broker compensation, 5-7%
as a percentage of home price, falls
somewhere between:
,A Christian organization owns a Yes. Religious organizations which rent to tenants for
fourplex. It wants to rent to only residential purposes are exempt from the Fair
Christian tenants. Under the federal Housing Act
Fair Housing Act, is this legal?
What happens to trade fixtures after a The tenant removes their trade fixtures and takes
business moves out of a leased them upon moving out.
property?
Suppose that a borrower has a gross $280
monthly income of $3,000 and wants
to qualify for a conforming loan (total
debt service ratio of 36%) with a
monthly PITI payment of $800. What is
the maximum amount of additional
long-term obligations this borrower
may have after PITI?
A square bedroom measures 10 feet 100 square feet
by 10 feet. What is the area of the
room?
Which of these is an economic situs
characteristic that makes land a
distinctive commodity?*
In a fixed-rate mortgage that is fully predetermined
amortized, the total amount of interest
to be paid is:
Which is exempt from the federal Fair renting a room in a house occupied by the owner
Housing Act?
The Americans with Disabilities Act privately owned or government-owned public
applies to: accommodations
, Condemnation is the act of seizing eminent domain
private property from citizens. What
gives the government the right to do
this?
The PHYSICAL characteristics of land immobile
are that land is indestructible, non-
homogenous, and:
Which statement BEST defines the stipulation that must be satisfied before the contract
term contingency? can be performed
If a borrower is behind on payments, call the entire loan balance due immediately
the acceleration clause gives the
lender the ability to:
A metes and bounds legal description the point of beginning
always returns to:
What should a license holder do if a advise the client they cannot legally discriminate
client instructs them to do something against certain groups
that would discriminate against a
protected class?
What is a novation? the substitution of one contract for another
A married couple bought a home ten $50,000
years ago for $400,000. Their
neighborhood has rapidly grown in
popularity, and they were able to sell
their home this year for $950,000.
How much of that money will they be
required to pay capital gains tax on?
Which element of a valid contract lawful objective
states that the contract cannot require
any illegal activities or outcomes?
Applicable Solutions
Save Groups
Practice questions for this set
Learn 1 /7 Study using Learn
A bill of sale is for personal property; a deed is for real estate.
Choose an answer
In most cases, broker compensation, If a borrower is behind on payments,
1 as a percentage of home price, falls 2 the acceleration clause gives the
somewhere between: lender the ability to:
A square bedroom measures 10 feet
What is the difference between a bill
3 by 10 feet. What is the area of the 4
of sale and a deed?
room?
Don't know?
Terms in this set (164)
In most cases, broker compensation, 5-7%
as a percentage of home price, falls
somewhere between:
,A Christian organization owns a Yes. Religious organizations which rent to tenants for
fourplex. It wants to rent to only residential purposes are exempt from the Fair
Christian tenants. Under the federal Housing Act
Fair Housing Act, is this legal?
What happens to trade fixtures after a The tenant removes their trade fixtures and takes
business moves out of a leased them upon moving out.
property?
Suppose that a borrower has a gross $280
monthly income of $3,000 and wants
to qualify for a conforming loan (total
debt service ratio of 36%) with a
monthly PITI payment of $800. What is
the maximum amount of additional
long-term obligations this borrower
may have after PITI?
A square bedroom measures 10 feet 100 square feet
by 10 feet. What is the area of the
room?
Which of these is an economic situs
characteristic that makes land a
distinctive commodity?*
In a fixed-rate mortgage that is fully predetermined
amortized, the total amount of interest
to be paid is:
Which is exempt from the federal Fair renting a room in a house occupied by the owner
Housing Act?
The Americans with Disabilities Act privately owned or government-owned public
applies to: accommodations
, Condemnation is the act of seizing eminent domain
private property from citizens. What
gives the government the right to do
this?
The PHYSICAL characteristics of land immobile
are that land is indestructible, non-
homogenous, and:
Which statement BEST defines the stipulation that must be satisfied before the contract
term contingency? can be performed
If a borrower is behind on payments, call the entire loan balance due immediately
the acceleration clause gives the
lender the ability to:
A metes and bounds legal description the point of beginning
always returns to:
What should a license holder do if a advise the client they cannot legally discriminate
client instructs them to do something against certain groups
that would discriminate against a
protected class?
What is a novation? the substitution of one contract for another
A married couple bought a home ten $50,000
years ago for $400,000. Their
neighborhood has rapidly grown in
popularity, and they were able to sell
their home this year for $950,000.
How much of that money will they be
required to pay capital gains tax on?
Which element of a valid contract lawful objective
states that the contract cannot require
any illegal activities or outcomes?
