Real Estate Exam FL Sales Associate Exam With Complete Solutions

Real Estate Exam FL Sales Associate Exam With Complete Solutions Absentee Owner - Correct Answer A property owner who does not reside on the property and who usually relies on a property manager to oversee the investment Abstract of Title - Correct Answer A compilation of the recorded documents relating to a parcel of land from which an attorney may give an opinion as to the condition of title (a history of title) Acceleration Clause - Correct Answer A condition in a loan contract that permits the lender to require immediate repayment of the entire loan balance of the loan if the contract is breached or conditions for repayment occur, such as sale or demolition Acknowledgment - Correct Answer A written declaration by a person signing a document, given before an officer authorized to give an oath (notary public), stating that the signing is the person's voluntary act Actual notice - Correct Answer Giving oral or written notice, presenting a deed, giving verbal notice, or physically moving into a property Ad Valorem - Correct Answer According to value Adjudication Withheld - Correct Answer When a criminal final judgment is withheld or not recorded in public record Adjustable Rate Mortgage (ARM) - Correct Answer A mortgage loan with a calculated interest rate that may increase or decrease during the term of the loan Adverse Possession: - Correct Answer A method of acquiring title by possession under open, notorious, exclusive, and hostile conditions for seven or m