Principles of Real Estate Exam With 100% Correct Answers 2024

Principles of Real Estate Exam With 100% Correct Answers 2024 The Transfer Disclosure Statement (TDS) is required in which type of transaction? A) Sales involving co-owners B) Sales involving federally regulated lenders C) Sales involving one-to-four-family dwellings, except for specified exempt transactions D) Only in "as-is" sales - answerC) Sales involving one-to four-family dwellings, except for specified exempt transactions To qualify for a real estate broker's license, a person must complete A) eight college-level courses. B) a two-year AA degree. C) two college-level courses within 18 months D) a four-year college degree. - answerD) a four-year college degree The appraisal principle of regression provides that a property of higher value tends to decrease in value when surrounded by properties of A) lower value B) Higher income C) lower capitalization D) different character - answerA) lower value An easement by prescription terminates after nonuse for A) 1 year. B) 3 months. C) 5 years. D) 180 days. - answerC) 5 years. The second property tax installment becomes delinquent on A) November 1 B) December 10 C) April 10 D) February 1 - answerC) April 10 In a township, the section north of Section 10 is A) Section 22 B) Section 7 C) Section 12 D) Section 3 - answerD) Section 3 When property is used to secure payment of a debt or obligation, a lien on the property is given by the borrower, who is called A) The mortgagor B) The Trustee C) The Lender D) The mortgagee - answerA) The Mortgagor When a person dies without a will, the person is said to have died A) intestate B) with a devise C) with a bequest D) Testate - answerA) intestate The Real Estate Commissioner's regulations h