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ASREB BASIC REAL ESTATE QUESTIONS WITH 100% CORRECT ANSWERS..

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ASREB BASIC REAL ESTATE QUESTIONS WITH 100% CORRECT ANSWERS

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Which type of will does NOT require witnessing?


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holographic




All of the following relate to limited liability companies except


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articles of incorporation.




A holdover tenant would have a(n)

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estate at sufferance




The VA funding fee would change based on the


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value of the home




What is the maximum age of a public report in order to qualify for a subsequent
owner exemption?


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5 years




An apartment building is located in an area that is rezoned industrial. The property
owener


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can maintain the property as an apartment building as long as it doesn't
expand.

,A seller needs to pay an estimated $2,000 in closing costs, $150,000 on his current
mortgage, and wants $58,000 in cash for a down payment on another house. His
listing agreement obligates him to pay 7% commission to the brokerage. What is the
minimum selling price he can accept?


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$225,807




Which of the following would have the highest assessment ratio?


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Vacant shopping center




The maximum amount of gain that would be tax-free to a married couple who sells
their personal residence would be


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$500,000




When a person buys a timeshare, his right to rescind is


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, 7 calendar days.




The federal fair housing amendments act of 1988 prohibits discrimination based on


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familial status and disability.




Once the ADRE publishes a subdivider's public report, assuming there are no material
changes, the public report is valid for


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5 years.




A landlord may inspect a rental unit if


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two days' notice is given




A loan estimate must be given to a borrower withing three business days


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