AYPO Real Estate Principles of Real Estate II - Exam Study Guide Questions And Answers Rated A+ New Update Assured Satisfaction

70% of those who hold the CPM® designation: - hold the highest management positions in their offices (owner/partner/officer/director) A closing disclosure is a document that lists: - The fees and charges imposed on the borrower and the seller in a real estate transaction A CMA is what? - Comparative Market Analysis A county clerk who accepts electronic documents for recording shall: - (1) continue to accept paper documents; and (2) place entries for paper documents and electronic documents in the same index. A home equity conversion mortgage (HECIM) is also known as a(n): - reverse rate mortgage A house has 3 distinct rectangular shapes: A=20'x30' B=10'x10' C=75'x50' What is the square footage total? - 4450 ft2 A landlord may not intentionally prevent a tenant from entering the leased premises unless: - 1. the tenant is delinquent in paying all or part of the rent 2. the landlord's right to change the locks because of a tenant's failure to timely pay rent is placed in the lease 3. the landlord has locally mailed not later than the fifth calendar day before the date on which the door locks are changedA leasehold that continues for a definite period of time, which can be anywhere from weeks, to months, to years at a time is: - An estate for years. A person controls the acceptance of rent from a resident of a single-family rental and must be licensed under the Act if the person has the authority to do what? - Determine where to deposit the rent Determine when to deposit the rent Sigh checks or withdraw money from a trust account A privately run, for-profit financial institution that provides a number of services including mortgage lending is a... - Bank. A Privately run, for-profit financial institution that provides a number of services including mortgage lending is classified as which of the following? - A bank A property manager generally establishes rental rate using all except which of the following? - Researching consumer price index A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the first year?(Interest Rate = Interest / Principle) - $58,800 A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the first year. (Interest rate = Interest / Principle) - $58,800 A property owner has a 20-year mortgage that is worth $97,500 with a 7.5% annual interest rate. What does the property owner pay in mortgage payments every month? - $784.87 A property owner took out a 20-year mortgage for $97,500 with a fixed 7.5% annual interest rate. What does the property owner pay in mortgage payments every month (principle and interest only)? (Closest rounded answer) - $785A T-47 affidavit requires that a seller swear under oath to which of the following? - no easements have been granted on the property and that no material change exists in the structures, fences, or structures on adjoining properties, conveyances, or replats. About __% of Texas Realtors® deal in residential transactions - 80