Final Exam Real Estate Real Estate Express
questions and answers
At least that goes month to month is known as - an state from period to period
Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments,
plus 9% interest. in this case what is the monthly interest in the first month - $225
1st you take $30000 in multiply it by 9% for the total annual interest paid or
$2700. Divide that by 12 months for the total of $225 per month entries payment
Typically a listing broker is usually considered to be? - a fiduciary (agent) of the
seller.
A section - []A square normally 1 mile on a side.
[]The Land Ordinance of 1785 divided townships in the United States into 36
sections.
An owner of a 12 unit apartment building lived in one of the apartments. The
owner refused to rent to a person because of his national origin. Based on Federal
Fair Housing Laws, does the prospective tenant have a valid complaint? - Yes
because it was a 12 unit apartment building
,Final Exam Real Estate Real Estate Express
questions and answers
Several legal steps must sometimes be taken before a creditor can have his
outstanding debt satisfied through the sale of the debtor's property. Which of the
following is not one of the steps in the process - Writ of persecution
Property owner of Livia does not like how much she pays in property taxes what
may she object to( and have a chance of winning)? - The assess value of her
property
A point, line, or surface from which elevations are major is known as the - Datum
A loan company was loan applicants a particular insurance company, which in turn
paid the loan company a referral fee. This is: - illegal, since the Real Estate
Procedures Act prohibits kickbacks
A property was assessed at 25% of value with a text rate of $12 per hundred. If
the taxes totalled $11400 what was the value? - $380,000
Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950.
Multiply that by $100 for the total of $95000, which is 25% of the value. Then
divideby $95000 by 25% to obtain a 100% value of $38,000
, Final Exam Real Estate Real Estate Express
questions and answers
If a borrower must pay $6000 for points on a $150,000 loan how many points is
the lender charging for this loan? - 4 points
$6,000÷$150,000=.04 or 4 point
A 3 year straight note was obtained at 10% per year interest pay first two years
was $42,000. The loan on the house was 75% of the value. What was the total
value of the property? - $280,000
-if 2yrs=$42,000 then 1yr=$21,000.
-At 10% the principal balance is $210,000
-since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000
A brokerage was paid a commission of 6% of the 1st $120000 of the sales price
and 4% of everything over a $120,000 what would the sell price be if the total
commission was $9000? - $165,000
@6% commission was $7,200 (0.06×$120,000).
sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide
by $1,800, yielding $45,000. Then add $120,000; totalling $165,000
questions and answers
At least that goes month to month is known as - an state from period to period
Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments,
plus 9% interest. in this case what is the monthly interest in the first month - $225
1st you take $30000 in multiply it by 9% for the total annual interest paid or
$2700. Divide that by 12 months for the total of $225 per month entries payment
Typically a listing broker is usually considered to be? - a fiduciary (agent) of the
seller.
A section - []A square normally 1 mile on a side.
[]The Land Ordinance of 1785 divided townships in the United States into 36
sections.
An owner of a 12 unit apartment building lived in one of the apartments. The
owner refused to rent to a person because of his national origin. Based on Federal
Fair Housing Laws, does the prospective tenant have a valid complaint? - Yes
because it was a 12 unit apartment building
,Final Exam Real Estate Real Estate Express
questions and answers
Several legal steps must sometimes be taken before a creditor can have his
outstanding debt satisfied through the sale of the debtor's property. Which of the
following is not one of the steps in the process - Writ of persecution
Property owner of Livia does not like how much she pays in property taxes what
may she object to( and have a chance of winning)? - The assess value of her
property
A point, line, or surface from which elevations are major is known as the - Datum
A loan company was loan applicants a particular insurance company, which in turn
paid the loan company a referral fee. This is: - illegal, since the Real Estate
Procedures Act prohibits kickbacks
A property was assessed at 25% of value with a text rate of $12 per hundred. If
the taxes totalled $11400 what was the value? - $380,000
Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950.
Multiply that by $100 for the total of $95000, which is 25% of the value. Then
divideby $95000 by 25% to obtain a 100% value of $38,000
, Final Exam Real Estate Real Estate Express
questions and answers
If a borrower must pay $6000 for points on a $150,000 loan how many points is
the lender charging for this loan? - 4 points
$6,000÷$150,000=.04 or 4 point
A 3 year straight note was obtained at 10% per year interest pay first two years
was $42,000. The loan on the house was 75% of the value. What was the total
value of the property? - $280,000
-if 2yrs=$42,000 then 1yr=$21,000.
-At 10% the principal balance is $210,000
-since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000
A brokerage was paid a commission of 6% of the 1st $120000 of the sales price
and 4% of everything over a $120,000 what would the sell price be if the total
commission was $9000? - $165,000
@6% commission was $7,200 (0.06×$120,000).
sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide
by $1,800, yielding $45,000. Then add $120,000; totalling $165,000
