Real Estate Broker Test CT Study Questions and Answers

In general when the supply of a certain commodity increases, price tends to drop Which factor primarily affects supply in the real estate market? governmental monetary policy Nationwide Multistate Licensing System and Registry was created to register mortgage loan originators The difference between the cost basis of property and its net selling price is capital gain all of the following affect how quickly the forces of supply and demand work except degree of standardization of the property's price Which of the following described the act by which real property can be converted into personal property? Severance Severance Separating an item from the land (ex: a growing tree is part of the land until you cut it) A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following? Subsurface rights A truckload of lumber that a homeowner purchased has been left in the driveway for use in building a porch. The lumber is considered personal property A resort purchases a large tract of scenic forest land and puts several prefabricated steel buildings there to store landscaping equipment, fuel oil, and propane canisters. Which statement is TRUE regarding this situation? the resorts action constitutes improvement of the property According to law, a trade fixture is usually treated as permanence of investment