What has a large tract of land and is designated for unit development rather than for a
single use? - ANSWERSPlanned Unit Developments (PUD) Housing
What type of leverage occurs when the rate of return exceeds? - ANSWERSPositive
Leverage
What is the APR when you have 10% Loan + 6 points? - ANSWERSAPR = 10.75%
(Remember Divide 6 by 8 years which gives you .75)
Somebody that owns a property until they die is what type of ownership? -
ANSWERSLife Estate
The grantor of the life estate may wish to have the property ownership returned to him
or her or to his or her heirs. What's the right to regain this ownership called? -
ANSWERSReversion
Doc stamps on Deeds is calculated at the rate of what value OR what part? -
ANSWERSRate of $.70 per $100 of Value, or Fractional Part thereof (oft)
(*Question read something that can't change location...) - ANSWERSBranch Location
Bob calls his friend who is a realtor and tells him his sister is looking to buy a house. His
friend ends up closing a deal of his sister. What should Bob's friend do after he has
received his commission?
A. Take him out to dinner
B. Pay him a Referral Fee
C. Give a gift certificate
D. Write him a Thank You card - ANSWERSD. Thank You Card
Florida does not reciprocate with other states, but does have some states that have
educational requirements that are similar. What is this called? - ANSWERSMutual
Recognition
What establishes the standards under which buildings must be designed and
constructed?
A. Zoning Laws.
B. Building Codes
C. Exclusionary Zoning
D. Variance - ANSWERSB. Building Codes
Operation expenses and the effective gross income give you what? -
ANSWERSOperating Expense Ratio
, Windows that are not energy efficient and are not often used in today's new construction
are called what? - ANSWERSJalousie Windows
What act is required that lenders cannot discriminate against borrowers on the basis of
age? - ANSWERSEqual Opportunity Credit Act
What is the tendency for a lease? Indefinitely or Definitely? - ANSWERSDefinitely
If a sale associate is advertising what MUST be on his advertisement? -
ANSWERSBroker's Registered Name
If a customer sends in a full price offer and the realtor doesn't like you and pays you no
mind. What should the customer do? (This question I kind didn't really hear properly but
the answer is correct it just may not be connected to how I worded this question) -
ANSWERSSue Him!
A porn shop that predates the current zoning ordinance but is allowed to exist for at
least a period of time can best be described as what? - ANSWERSlegally
nonconforming use
Bob added 20,000 in Cash to an exchange in order to make the value of his traded
goods equal. What is this term called? (*Not sure how the question is worded but know
that the answer is what it is and that 20,000 is the clue amount) - ANSWERSBoot
What roof slopes on all 4 sides? - ANSWERSHip Roofs
What are the two FHA Ratios? - ANSWERSHousing expense ratio of 31%
andobligations ratio 43%
When does the lien of a property get transferred to the borrower? - ANSWERSThe day
of the closing
What is the only legally necessary clause required in a deed. - ANSWERSGranting
Clause
Where can you put escrow money? - ANSWERSCommercial Banks, Title Company,
Credit Union or Savings Association
What do you do when you get an offer from a buyer? - ANSWERSPresent the offer (if
not its concealment)
What typer of property has a little front yard with a big back yard called? - ANSWERScul
de sac
What does FHA do? - ANSWERSInsures loans but does have a maximum
single use? - ANSWERSPlanned Unit Developments (PUD) Housing
What type of leverage occurs when the rate of return exceeds? - ANSWERSPositive
Leverage
What is the APR when you have 10% Loan + 6 points? - ANSWERSAPR = 10.75%
(Remember Divide 6 by 8 years which gives you .75)
Somebody that owns a property until they die is what type of ownership? -
ANSWERSLife Estate
The grantor of the life estate may wish to have the property ownership returned to him
or her or to his or her heirs. What's the right to regain this ownership called? -
ANSWERSReversion
Doc stamps on Deeds is calculated at the rate of what value OR what part? -
ANSWERSRate of $.70 per $100 of Value, or Fractional Part thereof (oft)
(*Question read something that can't change location...) - ANSWERSBranch Location
Bob calls his friend who is a realtor and tells him his sister is looking to buy a house. His
friend ends up closing a deal of his sister. What should Bob's friend do after he has
received his commission?
A. Take him out to dinner
B. Pay him a Referral Fee
C. Give a gift certificate
D. Write him a Thank You card - ANSWERSD. Thank You Card
Florida does not reciprocate with other states, but does have some states that have
educational requirements that are similar. What is this called? - ANSWERSMutual
Recognition
What establishes the standards under which buildings must be designed and
constructed?
A. Zoning Laws.
B. Building Codes
C. Exclusionary Zoning
D. Variance - ANSWERSB. Building Codes
Operation expenses and the effective gross income give you what? -
ANSWERSOperating Expense Ratio
, Windows that are not energy efficient and are not often used in today's new construction
are called what? - ANSWERSJalousie Windows
What act is required that lenders cannot discriminate against borrowers on the basis of
age? - ANSWERSEqual Opportunity Credit Act
What is the tendency for a lease? Indefinitely or Definitely? - ANSWERSDefinitely
If a sale associate is advertising what MUST be on his advertisement? -
ANSWERSBroker's Registered Name
If a customer sends in a full price offer and the realtor doesn't like you and pays you no
mind. What should the customer do? (This question I kind didn't really hear properly but
the answer is correct it just may not be connected to how I worded this question) -
ANSWERSSue Him!
A porn shop that predates the current zoning ordinance but is allowed to exist for at
least a period of time can best be described as what? - ANSWERSlegally
nonconforming use
Bob added 20,000 in Cash to an exchange in order to make the value of his traded
goods equal. What is this term called? (*Not sure how the question is worded but know
that the answer is what it is and that 20,000 is the clue amount) - ANSWERSBoot
What roof slopes on all 4 sides? - ANSWERSHip Roofs
What are the two FHA Ratios? - ANSWERSHousing expense ratio of 31%
andobligations ratio 43%
When does the lien of a property get transferred to the borrower? - ANSWERSThe day
of the closing
What is the only legally necessary clause required in a deed. - ANSWERSGranting
Clause
Where can you put escrow money? - ANSWERSCommercial Banks, Title Company,
Credit Union or Savings Association
What do you do when you get an offer from a buyer? - ANSWERSPresent the offer (if
not its concealment)
What typer of property has a little front yard with a big back yard called? - ANSWERScul
de sac
What does FHA do? - ANSWERSInsures loans but does have a maximum
