Real Estate National Exam
Study online at https://quizlet.com/_2zkyof
1. How does a creditor who has ob- Writ of Execution
tained a judgement get satisfaction
against a debtor who will not pay?
2. The economic characteristics of Scarcity, location, and durability
land are?
3. What lease would best suit couples Month-to-Month lease
needs who are looking for tempo-
rary housing?
4. The land description T3N, R4W Prin- Rectangular survey
cipal Meridian refers to what type of
property description?
5. Crops that require annual planting Personal Property
are generally considered to be?
6. A distinguishing characteristic of The identity of the legal owner is kept confidential
owning property by land trust is
that?
7. A lawsuit for reverse condemnation Homeowner
may be brought by the?
8. If conditions for purchase are in- Return of the property to the original owner
cluded in a deed and these condi-
tions are violated, what is the penal-
ty?
9. When more than one approach to Reconciliation
value is applied to a property and
different indications of value are
, Real Estate National Exam
Study online at https://quizlet.com/_2zkyof
produced, how should the final es-
timate of value be determined?
10. A borrower has defaulted on the Demand immediate payment of the entire note
mortgage. The mortgage contains
an acceleration clause. This permits
the lender to?
11. Too much leverage may result in? Negative cash flow
12. A managing broker can be held re- All real estate activities of salespersons
sponsible for?
13. Earnest money should be deposited In a timely manner
into a trust account when?
14. Why was the Jones vs Mayer deci- By upholding the Civil Rights Act of 1866
sion of 1968 important?
15. A landlord may refuse to rent to a Has ever been convicted of selling illegal drugs
tenant who?
16. The buyer is assuming a mortgage Credit buyer $110,000, debit seller $110,000
presently on the property in the
amount of $110,000. What is the ad-
justment made at the closing?
17. In most states, foreclosed property Public auction
is sold through?
18. Depreciation is calculated based Cost of the building only
on?
19. Constructive notice
, Real Estate National Exam
Study online at https://quizlet.com/_2zkyof
A judgement has been proper-
ly recorded. Any subsequent pur-
chasers have actually examined the
record or not, have been given?
20. An agreement to purchase which An executory contract
has not been closed is?
21. An agency agreement between a A management agreement
property owner and a property
manager is usually created by?
22. Homes built before 1978 require? the buyer to acknowledge disclosure of the presence
of any known lead paint
23. What is the first step to take when Identify and remedy the cause of the problems
mold actions are found?
24. When a principal authorizes an Specific agency
agent to perform to a particular act
or transaction, it is an example of?
25. A broker earns his commission The seller accepts the offer
when?
26. A benefit of a deed of trust is? Foreclosure is usually simpler and faster
27. The purpose of usary laws is to reg- Interest rates charged by lenders
ulate?
28. The FHA functions most like an? Insurance company
29. A loan that requires a borrower to Term loan
pay interest only until the due date
Study online at https://quizlet.com/_2zkyof
1. How does a creditor who has ob- Writ of Execution
tained a judgement get satisfaction
against a debtor who will not pay?
2. The economic characteristics of Scarcity, location, and durability
land are?
3. What lease would best suit couples Month-to-Month lease
needs who are looking for tempo-
rary housing?
4. The land description T3N, R4W Prin- Rectangular survey
cipal Meridian refers to what type of
property description?
5. Crops that require annual planting Personal Property
are generally considered to be?
6. A distinguishing characteristic of The identity of the legal owner is kept confidential
owning property by land trust is
that?
7. A lawsuit for reverse condemnation Homeowner
may be brought by the?
8. If conditions for purchase are in- Return of the property to the original owner
cluded in a deed and these condi-
tions are violated, what is the penal-
ty?
9. When more than one approach to Reconciliation
value is applied to a property and
different indications of value are
, Real Estate National Exam
Study online at https://quizlet.com/_2zkyof
produced, how should the final es-
timate of value be determined?
10. A borrower has defaulted on the Demand immediate payment of the entire note
mortgage. The mortgage contains
an acceleration clause. This permits
the lender to?
11. Too much leverage may result in? Negative cash flow
12. A managing broker can be held re- All real estate activities of salespersons
sponsible for?
13. Earnest money should be deposited In a timely manner
into a trust account when?
14. Why was the Jones vs Mayer deci- By upholding the Civil Rights Act of 1866
sion of 1968 important?
15. A landlord may refuse to rent to a Has ever been convicted of selling illegal drugs
tenant who?
16. The buyer is assuming a mortgage Credit buyer $110,000, debit seller $110,000
presently on the property in the
amount of $110,000. What is the ad-
justment made at the closing?
17. In most states, foreclosed property Public auction
is sold through?
18. Depreciation is calculated based Cost of the building only
on?
19. Constructive notice
, Real Estate National Exam
Study online at https://quizlet.com/_2zkyof
A judgement has been proper-
ly recorded. Any subsequent pur-
chasers have actually examined the
record or not, have been given?
20. An agreement to purchase which An executory contract
has not been closed is?
21. An agency agreement between a A management agreement
property owner and a property
manager is usually created by?
22. Homes built before 1978 require? the buyer to acknowledge disclosure of the presence
of any known lead paint
23. What is the first step to take when Identify and remedy the cause of the problems
mold actions are found?
24. When a principal authorizes an Specific agency
agent to perform to a particular act
or transaction, it is an example of?
25. A broker earns his commission The seller accepts the offer
when?
26. A benefit of a deed of trust is? Foreclosure is usually simpler and faster
27. The purpose of usary laws is to reg- Interest rates charged by lenders
ulate?
28. The FHA functions most like an? Insurance company
29. A loan that requires a borrower to Term loan
pay interest only until the due date
