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Real Estate Express Exam 2023 with 100% correct answers

Real Estate Express Exam 2023 with 100% correct answers

Real Estate Express Exam 2023 with 100% correct answers

Real Estate Express Exam 2023 with 100% correct answers

Real Estate Express Exam 2023 with 100% correct answers

Real Estate Express Exam 2023 with 100% correct answers

The formula for calculating simple interest is: - correct answerInterest = principal x rate x time Add-on interest Annual Percentage Rate (APR) - correct answerAPR= 2*n*IR/P(N+1) n: number of payment periods in each year IR: total financing charges P: principal or amount borrowed N: number of scheduled payments Housing costs include: - correct answerthe principal, interest, taxes and homeowner's insurance (PITI), and also may include some monthly assessments for mortgage insurance and...

The right to control one's property includes all of the following EXCEPT 1 the right to invite people on the property. 2 the right to exclude the utilities meter reader. 3 the right to erect "no trespassing" signs. 4 the right to enjoy pride of ownership. - correct answerthe right to exclude the utilities meter reader. This right to enter and work on a property is granted to utility companies (water, sewer, gas and electric) as well as telephone and cable companies. Essentially, if a...

who must sign the mortgage broker dual agency disclosure form? - correct answerthe borrower and the seller how many members of the NYS board of real estate must be real brokers? - correct answer5 which of the following does not appoint members to the board? - correct answersecretary of state a _____ broker conducts business as a sole proprietorship, doing businesses under a name other than his or her own personal name - correct answertrade name

The seller and buyer have countered back and forth for several days. The two parties have verbally agreed to a price, but neither has signed anything. At this point the status of the negotiation is: - correct answernot a contract until the parties have signed the necessary documents John is a real estate licensee in Georgia(A state that has mutual recognition with florida) whereby he wishes to obtain a Florida real estate license. As long as John remains a Georgia resident, which of the follo...

Real estate that includes non-physical interests, such as easements and restrictions is known as __ - correct answerReal Property An item permanently attached to real property, such as an attached fence, is included in the definition of real property. Townships and sanctions - correct answerA rectangular survey is composed of Townships that are square tracts of land six miles on each side. A township then is divided into 36 Sections which are square tracts of land one mile on a side. One ...

Yes, because the city is using its power of eminent domain for public good. - correct answerA city acquires a 10-foot strip of a property owner's land for a public walking trail. The owner's home is not affected and she is able to use the land. Is the homeowner eligible for compensation? 60 hour post license course - correct answerBroker Bill takes his Broker course and passes it. He applies and gets his license on time. He pays all his fees and begins to work. ( He does not have a 4 year d...

Which date is the beginning of the commissions fiscal year? - correct answerJuly 1 Which of the following is not a requirement to qualify for the position of commissioner in Nevada? - correct answerMust never have been actively engaged in real estate business Under normal circumstances, what is the maximum number of years a commissioner may serve? - correct answer6 years According to the Nevada administrative code students must receive how many credit hours of real estate education in t...

Triple Net Lease - correct answero A type of lease when the tenant pays for the taxes, insurance, maintenance and repairs is called what? Lease Purchase - correct answer(Lease to buy) Person renting may be obligated to purchase after lease expires Lease Option - correct answer(Lease to buy) Person renting is under no obligation to purchase after lease expires Graduated Lease - correct answerWhich kind of lease increases at specified intervals? Net lease - correct answerWhen a tenant ...

Which agency in Illinois has responsibility for licensing schools and instructors? Training and Development Department Division of Real Estate Standards Council Advanced Advisory Council - correct answerDivision of Real Estate Which of the following is NOT an activity included in the definition of Broker? Sells, exchanges, purchases, rents, or leases real estate. Negotiates the sale, exchange, purchase, rental, or leasing of real estate. Holds a non-public open house. Engages in the b...

local government - correct answerProperty taxes are governed by Property values - correct answerIs/are the key indicator of the health of the nation House led & House Fed - correct answerIt is frequently written that American economy is Are real Estate business is done under the authority of a real estate broker - correct answerTrue A Real Estate Broker - correct answerWhich would not usually be a source of financing in real estate The Legal description of a property is - correct ...

Which of the following is exempt from the Natural Hazards Disclosure? - correct answer Karen and Jay need a larger home. They have two large dogs and a baby on the way. One day in the real estate section, they see their dream home. The couple view the home that very day, make an offer and it's accepted. There's only one problem: They haven't even put their home on the market. Which type of loan gives Karen and Jay their best option of paying two mortgages until their current home sells? - ...

Essential element of a contract, something of legal value - correct answerconsideration Seller has the right to hire any number of brokers - correct answeropen listing Nevada real estate commission must hold a minimum of how many meetings per year - correct answertwo Water rights pertaining to lakes/oceans - correct answerlittoral Burdens or limits to title of property - correct answerencumbrance Real estate advertisement can only use "team or group" when - correct answerdoesn'...

How does subdividing differ from real estate development? - correct answerA developer constructs improvements to the land; a subdivider separates it into smaller units. If a licensee acts as an independent contractor, then - correct answerhe controls his own working hours. When two or more parties are bound to act as described in the contract, this is referred to as a: - correct answerbilateral contract A type of value estimate approach, in which value equals the estimated land value pl...

At least that goes month to month is known as - correct answeran state from period to period Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments, plus 9% interest. in this case what is the monthly interest in the first month - correct answer$225 1st you take $30000 in multiply it by 9% for the total annual interest paid or $2700. Divide that by 12 months for the total of $225 per month entries payment Typically a listing broker is usually considered to be? - corre...