ASREB Test Questions and Answers Already Passed

ASREB Test Questions and Answers Already Passed "Plants and trees cultivated for harvest" best describes: Fructus industrales A "finder fee" is best described as A credit to a residential tenant A borrower applying for a FHA loan would be required to: Pay a mortgage insurance premium A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... Equity A broker has what duty to a third party? full disclosure of all material facts A broker is hired by a seller to sell the clients real property. the broker must obey: All lawful instructions of the client A broker, acting as a property manager, would be considered what type of agent? General A broker's listing agreement expired two weeks ago and the seller has re-listed with another agency. However, that broker now has an interested buyer. In showing the property to this prospective buyer, which of the following is true? The broker cannot discuss any offers he received on the property while he was the listing agent A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title with which of the following liens remaining unpaid as of close of escrow: Property taxes for the current year for the property being sold A buyer is purchasing a home located within a homeowner's association. The home has a violation that is not known by the association and is not disclosed to the buyer. What is true regarding the violation? Buyer may be required to correct the violation A company that acts as an intermediacy between a lender and an appraiser is a(n)... Appraisal Management Company A conditional use permit allows: Help for property owners with special needs A contract has been signed, but title has not yet been passed. The contract is... Executory A contract states that the taxes be prorated between the buyer and seller. The taxes have been paid in advance. The proper entry on the closing statement is: Credit the seller and debit the buyer A corporation is not permitted to take title to real property as: Both Community property and Joint tenancy A court order instructing an official (i.e. a sheriff) to sell property in order to pay a judgment is called: Writ of execution