RE Exam Pass correctly answered
graded A+
The county maintains an assessment roll that includes the assessed value of property. The purpose of
this assessment roll is - correct answer ✔✔establishment of the assessment for the tax base.
A broker and a buyer went to Western Hills Title Company. The buyer made out a $1,000 deposit check
to Western Hills Title Company. What record, if any, does the broker have to keep of this deposit? -
correct answer ✔✔Not make any record of this in his trust account
Since land is unique in character and often cannot be substituted for another parcel, the courts have
made available the right to request specific performance. Who could NOT request such action in a court?
- correct answer ✔✔A broker acting as an agent of the seller
The purchase price of a property amounted to $50,000 with the buyer assuming an existing $30,000
loan. If the documentary transfer tax is $0.55 for each $500 or fraction thereof, what was the tax paid on
the transaction? - correct answer ✔✔$50,000 Purchase price
-30,000 Loan
$20,000 Equity
$20,000 ÷ $500 = 40
× $0.55
$22
A minority prospect came to you and requested to see a specific house in a minority neighborhood. You
can lawfully assume the prospect is - correct answer ✔✔interested in a house with a particular type of
architectural style.
Questions that deal with discrimination should be answered with a color-blind attitude and without bias.
Any choice that hints at discrimination is probably the wrong choice. It is incorrect that you can lawfully
assume the prospect is interested in a house in a minority neighborhood because although the house
the minority prospect wants is in that neighborhood, it does not mean he wants the house because of its
, proximity to other minorities. Although it may be overreaching to assume the prospect desires a
particular type of architectural style, it is not discriminatory.
The remedy of unlawful detainer is most commonly used by offended - correct answer ✔✔lessors.
When preceded by a three-day notice to quit or pay rent, the unlawful detainer is the proper procedure
designed by law by which the lessor can have the tenant evicted.
A deed was given by "A" to "B" with oral instructions not to record the deed until "A's" death. The deed
was - correct answer ✔✔void.
Which would LEAST likely protect a single-family residential neighborhood from losing value? - correct
answer ✔✔Introduction of average-priced homes in an area of better quality properties of the same
type
The principle of regression maintains that as properties of dissimilar value are placed in a neighborhood
of better properties, the worth of the better homes is adversely affected and they tend to lose value.
Of the four appraisal terms listed, which one has the LEAST relation to the others? - correct answer
✔✔Reconciliation
Reconciliation is the final step by the appraiser in any appraisal and is the act of bringing together
conclusions in a short concise statement (it can also be called summation). The terms sales, comparative,
and comparable are used in the sales comparison approach.
With respect to easements appurtenant, which statement is correct? - correct answer ✔✔If the grantor
conveys title to property, the easement passes automatically with the land.
Easements pass automatically upon transfer of the dominant tenement.
graded A+
The county maintains an assessment roll that includes the assessed value of property. The purpose of
this assessment roll is - correct answer ✔✔establishment of the assessment for the tax base.
A broker and a buyer went to Western Hills Title Company. The buyer made out a $1,000 deposit check
to Western Hills Title Company. What record, if any, does the broker have to keep of this deposit? -
correct answer ✔✔Not make any record of this in his trust account
Since land is unique in character and often cannot be substituted for another parcel, the courts have
made available the right to request specific performance. Who could NOT request such action in a court?
- correct answer ✔✔A broker acting as an agent of the seller
The purchase price of a property amounted to $50,000 with the buyer assuming an existing $30,000
loan. If the documentary transfer tax is $0.55 for each $500 or fraction thereof, what was the tax paid on
the transaction? - correct answer ✔✔$50,000 Purchase price
-30,000 Loan
$20,000 Equity
$20,000 ÷ $500 = 40
× $0.55
$22
A minority prospect came to you and requested to see a specific house in a minority neighborhood. You
can lawfully assume the prospect is - correct answer ✔✔interested in a house with a particular type of
architectural style.
Questions that deal with discrimination should be answered with a color-blind attitude and without bias.
Any choice that hints at discrimination is probably the wrong choice. It is incorrect that you can lawfully
assume the prospect is interested in a house in a minority neighborhood because although the house
the minority prospect wants is in that neighborhood, it does not mean he wants the house because of its
, proximity to other minorities. Although it may be overreaching to assume the prospect desires a
particular type of architectural style, it is not discriminatory.
The remedy of unlawful detainer is most commonly used by offended - correct answer ✔✔lessors.
When preceded by a three-day notice to quit or pay rent, the unlawful detainer is the proper procedure
designed by law by which the lessor can have the tenant evicted.
A deed was given by "A" to "B" with oral instructions not to record the deed until "A's" death. The deed
was - correct answer ✔✔void.
Which would LEAST likely protect a single-family residential neighborhood from losing value? - correct
answer ✔✔Introduction of average-priced homes in an area of better quality properties of the same
type
The principle of regression maintains that as properties of dissimilar value are placed in a neighborhood
of better properties, the worth of the better homes is adversely affected and they tend to lose value.
Of the four appraisal terms listed, which one has the LEAST relation to the others? - correct answer
✔✔Reconciliation
Reconciliation is the final step by the appraiser in any appraisal and is the act of bringing together
conclusions in a short concise statement (it can also be called summation). The terms sales, comparative,
and comparable are used in the sales comparison approach.
With respect to easements appurtenant, which statement is correct? - correct answer ✔✔If the grantor
conveys title to property, the easement passes automatically with the land.
Easements pass automatically upon transfer of the dominant tenement.
