Michigan real estate exam Study guides, Class notes & Summaries

Indiana State Life and Health Insurance Exam Questions and Answers Already Passed How many days is a temporary producers license valid? 30 60 90 180 180 In Indiana, the maximum fine the the commissioner can impose on a producer or company who violates a cease and desist order is___per violation? $10,000 $15,000 $20,000 $25,000 $25,000 Which of these is an example of twisting? A producer maliciously aligns another insurance company's financial status A producer misrepresents a policy t...

PSI Michigan Real Estate Exam Question and answers rated A+ 2023/2024True - correct answer Games of chance for promotion (such as 50/50) are illegal Tor F Functions of the Board - correct answer 1. Interpret licensure requirements and aid in investigations 2. Members are appointed by the governor 3. 2 Four year terms! Department of Licensing and Regulatory Affairs (LARA) - correct answer This Department investigates complaints The Board and Department - correct answer Both of these ac...

"Which of the following is TRUE about Michigan transfer tax? A)Transfer tax is a charge to the buyer at the closing. B)Transfer tax is calculated on the sale price of the real estate being conveyed. C)Transfer tax is collected at the time a mortgage to real property is recorded. D)There are two types of transfer tax: county and city." - Answer- "B-Explanation: The answer is transfer tax is calculated on the sale price of the real estate being conveyed. The two types of transfer tax are...

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What does LARA stand for? - Answer- The Department of Licensing and Regulatory Affairs What is the purpose of LARA? - Answer- to support business growth and the creation of new jobs by ensuring real estate business structure is fair and efficient Which of these entities or individuals are responsible for oversight of the Bureau of Professional Licensing? 1. Department Director 2. Chief Deputy Director 3. Director of Professional Licensing 4. Board of Real Estate Brokers and Salesperson...

Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) Michigan Real Estate Exam Multiple Choice Questions and Answers (Graded A) "Which of the following is TRUE about Michigan transfer tax? A)Transfer tax is a charge to the buyer at the closing. B)Transfer tax is calculated on the sale price of the real estate ...

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Michigan Real Estate Exam 2023 Questions with correct Answers

Michigan Real Estate Exam Questions and Answers

All of the following include a real estate interest except: A. Apple trees B. Farm equipment C. Air rights D. Barns - Answer- B. Farm equipment An owner of a 90 acre parcel of land wishes to split the land without platting. Under the michigan land devision act, how many parcels may this owner get if he does not create any new roads? A. 12 B. 14 C. 10 D. 8 - Answer- A. 12 In estimating the value of a single-family home, an appraiser would most likely use which approach? A. Income ...