Washington Fundamentals - 60 Hour Exam Prep Questions And Answers, Graded A+/ Verified.| Latest Update 2024/25|

WASHINGTON FUNDAMENTALS - 60 HOUR EXAM PREP QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Which of the following wills may be considered invalid? - -A will that is not signed The Quarry Mountain Subdivision requires all properties to have fences that are at least 8 feet tall surrounding each property. This is an example of - -a deed restriction. The essential criteria for an acceptable legal description is that it - -accurately locates the parcel in the opinion of a court. New broker Juliet has been assigned office duty for Saturday and Sunday. What is another common term for office duty? - -Floor time In the appraisal process, looking at the number of recreational facilities, the distances to schools and adequacy of public transportation is called - -neighborhood analysis. Alex's home has been on the market for eight months. What is the most likely reason Alex's home has not been sold yet? - -The property is overpriced. Owner Tom decided to lease out his basement to a college student. By leasing the basement, Tom has - -transferred a portion of his bundle of rights. One of the major considerations in a master plan is - -the effect of new development on traffic patterns and the environment. On a $280,000 loan, the lender charges a 2 point service charge. How much does the borrower have to pay for just these two points? - -$5,600 What is the definition of "valuable consideration" in regard to contract validity? - -Something specifically offered in exchange for something else Which of the following legal description methods has been used the longest in the US? - -The metes and bounds system If a comparable has one less bathroom than the subject, an adjustment is made by - -adding value to the comparable. Designated Broker Austin represents a party in a transaction where there is a dispute regarding the deposited escrow money. What should Austin do? - -Hold the money until both parties (or their lawyers) provide a written release. What is a disadvantage of real estate investment? - -It is not highly liquid. Earl orally agreed to a 18-month lease with landlord Blake. Is this contract enforceable? - -No, all leases for longer than one year must be in writing to be enforceable. If the party who has reason to disaffirm the contract elects instead to perform it, the contract is: - - no longer voidable but valid. Designated Broker Jon is attaching a rider strip to a For Sale sign. What information is most likely on this rider strip? - -Jon's cell phone number Who can qualify for an FHA loan? - -Anyone with qualified incom