Aceable Agent - Principles of Real Estate II Exam Prep Actual Questions Correctly Answered | Verified Update
Aceable Agent - Principles of Real Estate II Exam Prep Actual Questions Correctly Answered | Verified Update TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - ANSWER Formulas to calculate commission? PRINCIPAL - ANSWER What is the term that describes the money that is lent? CASH TO CLOSE - ANSWER Down payment minus earnest money? TOTAL SALES PRICE - ANSWER Loan payment + loan principal? ORIGINATION POINTS - ANSWER Loan points/fees charged 1% to compensate loan officers for underwriting and administering the loan. DISCOUNT POINTS - ANSWER Loan points/fees charged 1% in exchange for a lower interest rate on the loan. DAY OF CLOSING - ANSWER When is the seller responsible for property taxes? Uniform Standards of Professional Appraisal Practice (USPAP) - ANSWER Ethical code for appraisers? Appraiser Qualifications Board (AQB) - ANSWER Who regulates USPAP? TALCB - ANSWER Texas Appraiser Licensing & Certification Board acronym? LICENSED RESIDENTIAL APPRAISER - ANSWER Qualified to appraise: -1 to 4 family non-complex residential units, 1 mill -1 to 4 family residential complex unit, $250k -75 add'l education hours -2000 hours experience over min 1 year -Assoc Degree or 30 course credit hours CERTIFIED RESIDENTIAL APPRAISER - ANSWER Qualified to appraise: -1 to 4 residential unit, any value okay -125 add'l education hours -2,500 hours experience over min 2 years -Bach Degree or higher
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aceable agent principles of real estate ii exam
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