Washington Real Estate Exam III
Questions With Correct Answers
What would cause a judgement lien to be imposed on a landowners
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property - CORRECT ANSWER✔✔-lawsuit | | |
for income tax purposes, a homeowner can deduct - CORRECT
| | | | | | | | | |
ANSWER✔✔-property taxes |
a tenant farmer has occupied a farm on which she has grown crops for
| | | | | | | | | | | | | |
several years. the landowner sells the farm to someone else who
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immediately gives the tenant notice to vacate. the timing of the notice
| | | | | | | | | | | |
will mean the crops currently in the ground will not be ready for harvest
| | | | | | | | | | | | | |
before the end of her lease. who do the crops belong to? - CORRECT
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ANSWER✔✔-the tenant |
an asian american buyer asks to be shown homes that are located in
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primarily asian neighborhoods. If the agent complies with his wishes,
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this is: - CORRECT ANSWER✔✔-legal, as it is done at the buyer's request
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,which of the following is true regarding a sublease? - CORRECT
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ANSWER✔✔-the lessee is still liable to the lessor if the siblessee | | | | | | | | | | |
defaults on the rent | | |
a broker would need to have a securities license to participate in -
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CORRECT ANSWER✔✔-a transaction involving an investment contract
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an easement appurtenant is one that - CORRECT ANSWER✔✔-runs with
| | | | | | | | |
the land
| |
Buyer Perry would like to assume Seller
| | | | | |
Joan's loan with ABC Mortgage Company,
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in a way that would mean no further liability
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for Joan. To accomplish this, Perry and
| | | | | |
Joan should use a: - CORRECT ANSWER✔✔-release of liability signed by
| | | | | | | | | | |
ABC mortgage |
John leases a commercial property. In the
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lease, he agrees to pay part of the utilities
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and taxes, as well as a fixed monthly rent
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amount, This is a: - CORRECT ANSWER✔✔-net lease
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, a real estate agent lists harold's home, which he owns as a life estate.
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Harold's children hold the remainder interest. which of the following is
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true? - CORRECT ANSWER✔✔-someone who buys harolds life estate
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receives only the interest held by harold
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a quitclaim deed conveys: - CORRECT ANSWER✔✔-the grantor's interest
| | | | | | | |
in a given property if any
| | | | | |
The entity that determines the maximum
| | | | |
number of people who may legally live in
| | | | | | |
a rental unit is the: - CORRECT ANSWER✔✔-local health dept and
| | | | | | | | | | |
zoning authority |
a borrower defaults on a mortgage. what does the acceleration clause in
| | | | | | | | | | |
|the mortgage allow the lender to do? - CORRECT ANSWER✔✔-demand
| | | | | | | | | |
immediate payment of the entire loan balance | | | | | |
If the mortgage amount is $80,000 and the borrower paid $4,800 in
| | | | | | | | | | | |
discount points, how many discount points were charged? - CORRECT
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ANSWER✔✔-6
after the sale of a property in a 1031 exchange, how long does the seller
| | | | | | | | | | | | | |
have to close the property? - CORRECT ANSWER✔✔-180 days
| | | | | | | | |
Questions With Correct Answers
What would cause a judgement lien to be imposed on a landowners
| | | | | | | | | | | |
property - CORRECT ANSWER✔✔-lawsuit | | |
for income tax purposes, a homeowner can deduct - CORRECT
| | | | | | | | | |
ANSWER✔✔-property taxes |
a tenant farmer has occupied a farm on which she has grown crops for
| | | | | | | | | | | | | |
several years. the landowner sells the farm to someone else who
| | | | | | | | | | |
immediately gives the tenant notice to vacate. the timing of the notice
| | | | | | | | | | | |
will mean the crops currently in the ground will not be ready for harvest
| | | | | | | | | | | | | |
before the end of her lease. who do the crops belong to? - CORRECT
| | | | | | | | | | | | | |
ANSWER✔✔-the tenant |
an asian american buyer asks to be shown homes that are located in
| | | | | | | | | | | | |
primarily asian neighborhoods. If the agent complies with his wishes,
| | | | | | | | | |
this is: - CORRECT ANSWER✔✔-legal, as it is done at the buyer's request
| | | | | | | | | | | |
,which of the following is true regarding a sublease? - CORRECT
| | | | | | | | | | |
ANSWER✔✔-the lessee is still liable to the lessor if the siblessee | | | | | | | | | | |
defaults on the rent | | |
a broker would need to have a securities license to participate in -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-a transaction involving an investment contract
| | | | | |
an easement appurtenant is one that - CORRECT ANSWER✔✔-runs with
| | | | | | | | |
the land
| |
Buyer Perry would like to assume Seller
| | | | | |
Joan's loan with ABC Mortgage Company,
| | | | |
in a way that would mean no further liability
| | | | | | | |
for Joan. To accomplish this, Perry and
| | | | | |
Joan should use a: - CORRECT ANSWER✔✔-release of liability signed by
| | | | | | | | | | |
ABC mortgage |
John leases a commercial property. In the
| | | | | |
lease, he agrees to pay part of the utilities
| | | | | | | |
and taxes, as well as a fixed monthly rent
| | | | | | | |
amount, This is a: - CORRECT ANSWER✔✔-net lease
| | | | | | |
, a real estate agent lists harold's home, which he owns as a life estate.
| | | | | | | | | | | | | |
Harold's children hold the remainder interest. which of the following is
| | | | | | | | | | |
true? - CORRECT ANSWER✔✔-someone who buys harolds life estate
| | | | | | | | |
receives only the interest held by harold
| | | | | |
a quitclaim deed conveys: - CORRECT ANSWER✔✔-the grantor's interest
| | | | | | | |
in a given property if any
| | | | | |
The entity that determines the maximum
| | | | |
number of people who may legally live in
| | | | | | |
a rental unit is the: - CORRECT ANSWER✔✔-local health dept and
| | | | | | | | | | |
zoning authority |
a borrower defaults on a mortgage. what does the acceleration clause in
| | | | | | | | | | |
|the mortgage allow the lender to do? - CORRECT ANSWER✔✔-demand
| | | | | | | | | |
immediate payment of the entire loan balance | | | | | |
If the mortgage amount is $80,000 and the borrower paid $4,800 in
| | | | | | | | | | | |
discount points, how many discount points were charged? - CORRECT
| | | | | | | | | |
ANSWER✔✔-6
after the sale of a property in a 1031 exchange, how long does the seller
| | | | | | | | | | | | | |
have to close the property? - CORRECT ANSWER✔✔-180 days
| | | | | | | | |
