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How is tagging a shared collaborator in a comment, via the use of @mention, an effective means of collaboration? It shares that collaborator a published view of the sheet so they can view the comment. It instantly sends the @mentioned individual an alert with the comment. It begins keeping track of the @mentioned individual within activity log. It adds the @mentioned individual to your My Smartsheet Contacts correct answersIt instantly sends the @mentioned individual an alert with the comm...

In Louisiana, _____ means that possession of part of an immovable by title equals possession of the entire immovable. Correct answers Constructive possession Which type of Louisiana deed contains the most promises to ensure the buyer is getting what was guaranteed? Correct answers Warranty deed Which of the following is FALSE about general partnerships in Louisiana? Correct answers They own immovables via co-ownership. What are suit for specific performance, suit for damages, and accept...

Severance Correct answers Which term describes the process of real property becoming personal property by detaching it from the land? FNMA, GNMA, FHLMC, and lending institutions that buy loans from other lenders Correct answers The secondary mortgage market is comprised of _________________________. Discrimination through blockbusting, steering, and redlining The Fair Housing Act in 1968 was the first step in reversing the process of blockbusting, steering and redlining—all of which a...

43, 40 Correct answers Statute ____, Chapter ____, of Georgia Statutes and Codes, fondly known as Georgia license law, was passed to protect consumers from the improper practice of real estate. Georgia Real Estate Commission Correct answers The _______________, or GREC for short, was established to provide the authority to enforce the law. True Correct answers The commission regulates real estate licensees by upholding license law as defined by Statute 43, Chapter 40, of Georgia Statutes a...

Loans made to high-risk borrowers, at higher interest rates and with higher fees, are ______. -Highly qualified loans -Prime loans -Secondary loans -Subprime loans Correct answers Subprime loans Real estate licensees should counsel their buyers who are purchasing a recently remodeled or newly built property about property taxes for what reason? -Property taxes may be reassessed at a higher rate. -Taxes are a part of everyday life and need to be paid. -The property taxes paid by the...

Discount Points Correct answers Amount paid for points = loan amount x number of points The Smithwicks, your buyer clients, obtained a 90% loan on their new $400,000 home. At closing, they paid $6,150 for points at closing. How many points did they pay? A. 017 B. .02 C. 1.71 D. 1.8 Correct answers C. 1.71 400,000 * .9 = 360,000 6,150 / 360,000 = .01708 = .0171 Spot Zoning Correct answers rezones a specific property for use within another zoning area. Aesthetic Zoning Correct...

Which of the following must be included in the Consumer Guide to Agency Relationships? Correct answers The fair housing statement When must a copy of an Ohio brokerage's policy be provided to each client or prospective client? Correct answers Upon the client's or prospective client's request One significant difference between an Ohio brokerage trust account for residential sales transactions and a trust account held for property management activities is _____________________. Corr...

Real estate broker Correct answers A person who's licensed as a broker and performs brokerage activities and collects compensation Real estate salesperson Correct answers A person who performs real estate activities while associated with a licensed real estate broker Licensee Correct answers A person holding a valid real estate license Appraiser Correct answers A person who's certified to estimate the value of real property according to standardized principles of valuation Home...

What is the correct calculation to figure out a commission rate? A. List price ÷ total commission B. List price × total commission C. Sales price ÷ total commission D. Total commission ÷ sales price Correct answers D. Total commission ÷ sales price Which of the following is an instrument of conveyance? A. Deed B. Mortgage C. Promissory Note D. Title Insurance Policy Correct answers A. Deed Which of the following is true about adverse possession? A. After meeting all of ...

While walking around the exterior of a rural home she's inspecting, Juanita noticed a metal vent pipe sticking out of the ground 25 feet from the house. She documents this because it may be a sign of what potential environmental hazard? Correct answers Underground storage tank A pipe or a vent sticking out of the ground, or a metal cap plate, are clues that there may be an underground storage tank on the property. Your client, Octavia, needs to sell quickly. She paid $250,000 for her co...

A NC broker is reviewing a settlement statement that an attorney prepared for his seller client. Which of the following is the broker expected to ensure? A. All calculations for prorated items are correct B. All charges are properly charged, and all credits are properly credited. C. The attorney who prepared the statement correctly inputted the amounts due to and from third parties. D. The entries about which the broker has direct knowledge, like the purchase price and earnest money, are c...

Define *Land* Correct answers The earth's surface extending downward to the center of the earth and upward to infinity, including permanently attached natural objects. Define *Real Estate* Correct answers Land, plus all things *permanently* attached to it naturally or artificially *Real Property* Correct answers Real estate, plus the interests, benefits, and rights included with real estate ownership Define *Improvements* Correct answers Artificial attachments to land that include th...

Which agency duties survive termination of an agreement? Correct answers Confidentiality and accounting What is a pro forma statement? Correct answers A projection of how an investment would perform if something changed By complying with fair housing laws, real estate professionals ______ and create an equal opportunity for citizens to build wealth with their housing choices. Correct answers Prevent discrimination For which location in a neighborhood shopping center are tenants willing ...

Jayne was tired of waiting for her subcontractor to get his part of the deal done. The agreed-upon deadlines came and went, and Jayne lost money waiting for the subcontractor to come through. She decided that if the subcontractor weren't going to honor his commitments, neither was she, so Jayne consulted. with her attorney and then terminated the contract. This is an example of Correct answers Rescinding the contract unilaterally What does the metes and bounds system use to develop a pr...

Which of the following factors should be considered when determining an acceptable sales price? A. Seller's loan payoff amount B. What personal property will be left in the property C. What type of financing the seller will accept from the buyer D. When the seller can vacate the property Correct answers Seller's loan payoff amount Lenders usually require _______ in reserve funds for homeowner's insurance, taxes, and mortgage insurance. Correct answers 2 months Which of...

Susie has opted out of opening an escrow account with her mortgage lender, which means she has a lower monthly payment. She still needs to save up, though, to make sure she can pay for taxes and ______. Inspections Repairs Late fees Insurance Correct answers Insurance The MREC can deny, suspend, or revoke the real estate licenses of individuals who violate license law. A civil penalty may also be imposed of up to $2,500 for each day the violation continues. What's the maximum cumulativ...

Property ownership for an indeterminable length of time is an example of what form of estate? Correct answers Freehold Vermont seller Sami lives in a city where the municipal tax period is from February 1 to January 30. What municipal taxes must she pay under Vermont law? Correct answers The municipal taxes beginning on the first day of that municipality's fiscal year and ending on the day before closing what happens to a joint tenant's share of property when the joint tenant dies? C...

Brian has just finished completing his loan application and has gathered supporting docs needed to determine whether the application will be approved. Which of these parties best describes who Brian is? Correct answers Buyer Why do residential and commercial real estate purchases require a different contract? Correct answers To provide the proper legal protections to the parties involved Your buyer client found their dream home, which they will be financing with ABC lending. What should th...

Lacey works for a government agency as an office space location specialist. Her role is to gather information and locate office space for government agencies. Does she need a real estate license? Correct answers No, government employees are an exception to the real estate license requirement. Which of the following is a legitimate and legal way that an exclusive right-to-sell listing agreement may terminate without the seller owing a commission? Correct answers The listing agent stops working...

What happens when an appraisal comes back lower than the asking price? Correct answers 1. They can acknowledge a fail 2. The buyer can increase the down payment 3. The seller can lower the asking price 4. They can compromise Real Estate Broker Correct answers A person licensed as a broker who performs brokerage activities and collects compensation Real Estate Sales Agent Correct answers A person who performs real estate activities while associated with a licensed real estate broker L...