PERRY REAL ESTATE MODULE ONE || ALREADY GRADED
A+.
Mixed Used Development correct answers Development that combines several uses in one
complex—for example, shopping center, office space, hotel, residential complex, civic center,
and convention center.
What are property management duties? correct answers Maximizing the owner's profits,
collecting rents, administering
Broker correct answers A licensed real estate professional acting as a point of contact between
tow or more people in negotiating the sale, rental, or purchase of a property
License laws protect the rights of ____________. correct answers Buyers, sellers, tenants, and
property owners (all types of consumers)
What can commission be used for? correct answers Rehabbing and remodeling, and also down
payment or closing costs
An individual who buys a cooperative, receives .....? correct answers Proprietary lease
A basic form policy would cover all the following correct answers Damage from smoke, damage
from lightning, damage from air craft.
( except damage from falling objects)
What is annexation? correct answers Converting personal property into real property
(Example: if a landowner converts sand, soil, and stones into cement and build a sidewalk)
The selling price of a property is $96,000. What is the 10% down payment and the 1.5% loan
origination fee? correct answers 10% of $96,000= 9,600
, 96,000-9,600= 86,400
Multiply 86,400 by .015= 1,296
Add 1,296+ 9,600= 10,896
Laws that affect real estate licenses correct answers Contract, general property, agency
Real estate license, federal regulations, tax, zoning/land use and environmental laws and
regulations.
Personality correct answers If a mobile home is delivered to a lot and hooked up to utilities
mobility correct answers Personal property can be distinguished from real property by such
Exclusion correct answers The ability to legally refuse other's interest
Equity correct answers When a person buys a home/house using a mortgage loan, the difference
between the amount owed on the property and its market value
What is PITI? correct answers Principal, Interest, Taxes, Insurance
If a company use use a shack for storage on purchased... it's considered? correct answers
Improvement
A company buys a 100 acre parcel of land and builds several storage shacks. The company uses
those shacks to store hazardous material, such as old paint, etc.
How much will a married couple owe in taxes if they sell their home and lived in it for the past
two years of five years? correct answers A married couple does not pay capital gains if they have
lived in their home two of the five years before selling it. ( none if it's less than 500,00)
A+.
Mixed Used Development correct answers Development that combines several uses in one
complex—for example, shopping center, office space, hotel, residential complex, civic center,
and convention center.
What are property management duties? correct answers Maximizing the owner's profits,
collecting rents, administering
Broker correct answers A licensed real estate professional acting as a point of contact between
tow or more people in negotiating the sale, rental, or purchase of a property
License laws protect the rights of ____________. correct answers Buyers, sellers, tenants, and
property owners (all types of consumers)
What can commission be used for? correct answers Rehabbing and remodeling, and also down
payment or closing costs
An individual who buys a cooperative, receives .....? correct answers Proprietary lease
A basic form policy would cover all the following correct answers Damage from smoke, damage
from lightning, damage from air craft.
( except damage from falling objects)
What is annexation? correct answers Converting personal property into real property
(Example: if a landowner converts sand, soil, and stones into cement and build a sidewalk)
The selling price of a property is $96,000. What is the 10% down payment and the 1.5% loan
origination fee? correct answers 10% of $96,000= 9,600
, 96,000-9,600= 86,400
Multiply 86,400 by .015= 1,296
Add 1,296+ 9,600= 10,896
Laws that affect real estate licenses correct answers Contract, general property, agency
Real estate license, federal regulations, tax, zoning/land use and environmental laws and
regulations.
Personality correct answers If a mobile home is delivered to a lot and hooked up to utilities
mobility correct answers Personal property can be distinguished from real property by such
Exclusion correct answers The ability to legally refuse other's interest
Equity correct answers When a person buys a home/house using a mortgage loan, the difference
between the amount owed on the property and its market value
What is PITI? correct answers Principal, Interest, Taxes, Insurance
If a company use use a shack for storage on purchased... it's considered? correct answers
Improvement
A company buys a 100 acre parcel of land and builds several storage shacks. The company uses
those shacks to store hazardous material, such as old paint, etc.
How much will a married couple owe in taxes if they sell their home and lived in it for the past
two years of five years? correct answers A married couple does not pay capital gains if they have
lived in their home two of the five years before selling it. ( none if it's less than 500,00)
