Minnesota State Real Estate Test Review questions 100% correct answers

A homeowner is willing to let his neighbor park an RV in his backyard. He does NOT want to make the permission permanent in case he dislikes others who might move next door in the future. What should he give his neighbor? correct answer A license. Legal descriptions using the government survey system are NOT generally used in correct answer : the original 13 states. Real property can be converted to personal property by correct answer Severance A landowner wishes to build a neighborhood grocery store on a busy street in an area zoned for residential use. Which of the following would MOST likely be used to obtain permission for this store? correct answer Conditional use permit or zoning variance. Ordinances that specify construction standards are correct answer Building Codes A couple owns an older home in a neighborhood that is becoming a commercial area. Because of the change in the use of the land, the couple can expect the value of their parcel to increase at some future time. This is an example of the principle of correct answer anticipation If an older building cannot be air-conditioned, it is an example of correct answer functional obsolesence According to the principle of progression, a three-bedroom, one-story home is MOST likely to bring the highest sales price if located in a neighborhood in which correct answer most homes are larger than the sale home According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all of the following disclosures MUST appear in the ad EXCEPT the correct answer prepayment penalties and rebates. The FHA functions MOST like correct answer an insurance company