Sale of the family home Study guides, Revision notes & Summaries

What are the classes of Property? - Personal Property and Real Property What is personal property? - Generally movable and unattached items. What is a trade fixture? - Personal property used for a person's business. (even if it attached to the real estate) What is Fructus Industriales? - Crops also known as chattle. What general categories does personal property fall under? - Intellectual, reputation, leases, partnership interests. Real Property - Everything within a specified bl...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

Pearson Vue Test Questions and answers, 100% Accurate, Graded A+. Approved. Which of the following terms BEST describes personal property that, by its attachment to real property, is regarded as real estate? A. Emblements B. Personality C. Fixtures D. Appliances - -C A salesperson who completes a written listing agreement with a seller is helping to create a contractual relationship between the: A. salesperson and the seller B. salesperson and the buyer C. sal...

Which of the following is most vital or important in planning a subdivision: - ANSWER-Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWER-Percentage Lease What is not an adequate method of transferring property? - ANSWER-Executive Sale What is considered personal property? - ANSWER-Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value...

medication aide (MA) - Answer-a healthcare worker, usually first trained as a nursing assistant, whose main task is administering medications to residents in a long-term care facility. long-term care facilities - Answer-a facility in which residents live and are able to receive 24-hour skilled care. documenting - Answer-keeping a record of care provided. PRN - Answer-abbreviation meaning as needed. professional - Answer-having to do with work or a job. personal - Answer-relating to life o...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

What are the classes of Property? - Personal Property and Real Property What is personal property? - Generally movable and unattached items. What is a trade fixture? - Personal property used for a person's business. (even if it attached to the real estate) What is Fructus Industriales? - Crops also known as chattle. What general categories does personal property fall under? - Intellectual, reputation, leases, partnership interests. Real Property - Everything within a specified bl...

Champions Real Estate Finance graded A+ already passed 2023Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers ...

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 RATED A+ Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. For a loss that would otherwise be covered for th...