C-33 Online Practice Questions and 100% correct answers 2024/2025

C-33 Online Practice Questions and 100% correct answers 2024/2025 The purpose of laws that provide for property to escheat to the state or county when a landowner dies with no will and no heirs is to 1. save the cost of a judicial claims process. 2. provide an additional source of revenues to the state or county. 3. prevent property from being ownerless. 4. increase the amount of land available for public use. - ANSWERS 3. prevent property from being ownerless. A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called 1. an agency. 2. an assessment. 3. a contract. 4. a fiduciary obligation. - ANSWERS 3. a contract. A major difference between freehold and nonfreehold estates is that all freehold estates 1. are of indeterminable duration. 2. terminate upon the death of the person on whose life they are based. 3. are inheritable by the holder's heirs. 4. are estates for a fixed term. - ANSWERS 1. are of indeterminable duration. Which of the following may be considered prima facie evidence of discrimination by a broker? 1. Failure to show property in certain neighborhoods. 2. Failure to display the equal housing opportunity poster at the broker's place of business. 3. Failure to keep appointments with minority customers even though the broker was unaware of the minority status. 4. Failure of a minority buyer to qualify for a loan arranged by the broker. - ANSWERS 2. Failure to display the equal housing opportunity poster at the broker's place of business. A competitive market analysis is MOST often used for 1. estate tax purposes. 2. setting a listing price. 3. divorce proceedings. 4. property tax assessment. - ANSWERS 2. setting a listing price. On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set for April 1. What will be the seller's credit for the property taxes already paid if the buyer pays for the day of closing? Use a 360-day year and a 30-day month. 1. $285. 2. $380. 3. $760. 4. None of the above. - ANSWERS 4. None of the above. A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits the lender to 1. confiscate the borrower's personal assets. 2. demand immediate payment of the entire note. 3. report the borrower to the Federal Housing Administration. 4. force the borrower to vacate the premises. - ANSWERS 2. demand immediate payment of the entire note. A landlord may legally refuse to rent to a prospective tenant if the tenant 1. has a history of serious mental illness. 2. is unable to live alone without assistance. 3. has ever been convicted of using illegal drugs. 4. has ever been convicted of selling illegal drugs. - ANSWERS 4. has ever been convicted of selling illegal drugs. The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at closing? 1. Credit buyer $110,000; debit seller $110,00