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A 3.45-acre lot sells for 50 cents per square foot. What is the selling price? - correct answer $75,141 A blind ad refers to an ad that - correct answer gives no indication that the property is listed with a broker A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered - correct answer Equity A broker, acting as a property manager, would be what type of agent? - correct answer General A buyer pays 20% down and obtains a real es...

Attachments are generally considered_____and can be either____or____ - correct answer real property, natural, or man made What are five test to determine what is or is not a fixture? - correct answer M.A.R.I.A. Method of Attachment, Agreement, Relationship, Intent, Adaptability Property ownership is what two basic systems? - correct answer Feudal and Allodial All real estate is owned by the king and there are no heirs. - correct answer Feudal System The system of land ownersh...

Wetlands = - correct answer Police Power Confidentiality = - correct answer Loyalty and last forever Brownfields = - correct answer Land with hazardous substance Friable = - correct answer Asbestos Compensatory Damages - correct answer Actual damage Type 2 water rights can be.... - correct answer Sold with the land Sub division - correct answer 6 or more lots less than 36 acres Nominee - correct answer To remain anonymous in a contract Future Lien possibly...

Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? - correct answer Estoppel Amount stated in a purchase contract in case the buyer breaches is called: - correct answer Liquidated In a sublease with a positive leasehold who benefits from excess rent? - correct answer Sub-lessor Property taxes are 1,525. 1st half paid by seller clos...

A grantor conveyed a vacant one acre tract of land to a grantee. The grantee receives: - correct answer 43560 sq feet Fee simple title to a designated unit of air space with a percentage ownership of common elements in the property is called: - correct answer Condominum When a woman has an interest in land that will continue as long as she lives, she has: - correct answer Life Estate Tom and Sally are not married, but own a rental property together. Because they also have a right ...

What is included in a "Bundle of Rights"? (allodial system of ownership) - correct answer 1. Possession 2. Use 3. Encumbrance (loan against) 4. Expulsion (exclude others) 5. Transfer Corporeal - correct answer Land and Tenements (buildings) Incorporeal - correct answer Rights and Relationships Hereditaments - correct answer Any property that can be inherited Fixtures - correct answer Item of personal property that because of it's attachment becomes real property MAR...

The sale of personal property would include: - correct answer Bill of sale What governmental right requires compensation to private property owners? - correct answer Eminent domain If property is obtained by the state after a person dies, this is called: - correct answer Escheat Transfer of real property requires a: - correct answer Deed This is an economic characteristic of real property: - correct answer Frozen asset A promissory note is considered: - correct answer ...

A rate of return: - correct answer Cap rate Buying An apartment building. It would be apprised using: - correct answer Income approach When a house is built with cheap material and shows signs of deterioration this is called: - correct answer Physical depreciation This is considered functional obsolescence: - correct answer Five bedroom house with one bathroom The market data approach in appraisal would refer to as: - correct answer Substitution When buying a rental prop...

The sale of personal property would include a: - correct answer Bill of Sale What governmental right requires compensation to private property owners? - correct answer Eminent Domain If property is obtained by the state after a person dies, this is called: - correct answer Escheat Transfer of real property requires a - correct answer Deed Which of the following would be an economic characteristic of real property? Non homogeneous Frozen Asset Alienation Governmental right...

Formula for finding property value when you have the net operating income and cap rate - correct answer Current market value(CMV)= NOI/ cap rate Example: CMV=$5.480/ .08(8%) =$68,500 When would IRS form 1099S be used? - correct answer Report sales price What's a 1099s forms - correct answer Known as an "information return. The form the federal government requires to be filed when selling real estate. If you sold any real property during the course of the year, you must will receive ...

A 3.45-acre lot sells for 50 cents per square foot. What was the selling price? a. $37,570 b. $75,141 c. $76,230 d. $78,712 - correct answer b. $75,141 A blind ad refers to an ad that a. provides no price b. provides no address c. gives no indication that the property is listed with a broker d. gives no indication that the property has been sold or not - correct answer c. gives no indication that the property is listed with a broker A borrower is required to put 10% down for th...

How are AZ property taxes charged? - correct answer Ad Valorem What does Ad Valorem mean? - correct answer Assessed Value How are Arizona Property Taxes paid? - correct answer Levied once, Paid Twice When are AZ property Taxes Due? and Delinquent? - correct answer Oct-Nov and March-May (O No More Money) Who do you pay the property taxes to? - correct answer County Treasurer What is the penalty for AZ Property Tax Delinquency? - correct answer 16% Property Tax Assess...

Before the commissioner issues a public report on subdivided land, the subdivider may not: Take lot reservations Enter into a binding contract Advertise the lots for sale Begin lot improvements - correct answer Enter into a binding contract All of the following can be used in a developer's public report advertisement EXCEPT: Specific prices A statement which says, "The public report is an endorsement of the project" Names of the owners and past history Future plans of the general ar...

A1...which is the least likely to be offered by a real estate office? 1. Financing 2. CMA 3. Property Development 4. Insurance - correct answer Insurance A1_Ownership implies everything except: 1. Possession 2. Enjoyment 3. Control 4. Destruction - correct answer Destruction A1_Of the following liens - delinquent property taxes since 2007, mortgage recorded in 2004, IRS lien recorded in 2008 - which has 2nd priority? 1. IRS lien 2. 2nd year property taxes 3. Mortgage 4. 3 y...

A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... - correct answer Equity A broker, acting as a property manager, would be considered what type of agent? - correct answer General A contract has been signed, but title has not yet been passed. The contract is... - correct answer Executory A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much money will b...

Within the Arizona Groundwater Code all of the following rights were created EXCEPT? - correct answer Subdivision grandfather right What is required to give someone the right to sign your name? - correct answer Power of Attorney The buyer has an investment that has a feature of "a pass through certificate" this investment is most likely a: - correct answer Ginnie Mae Security When an occupant holds a long term proprietary lease this is referred to as: - correct answer Co-operati...

Who does a salesperson represent? A. Client B. Customer C. Employing Broker D. Co-operating Broker - correct answer Employing broker when must licensee report criminal conviction - correct answer 10 days licensed mortgage loan originators are registered through - correct answer Nation Wide Mortgage Licensing System a clause in real estate transactions allows adjustments of payments up or down - correct answer escalation clause escrow company may disperse commissions direc...

* Arizona Property Taxes and Assessments (Delinquent) - correct answer ● Penalty for delinquency 16% and tax lien ● Purchaser of tax liens gets a certificate of purchase ● May foreclose in 3yrs if taxes are not paid by the property owner. * Arizona Property Taxes - correct answer ● Charged "ad valorem" (A Latin phrase meaning "according to value"; used to refer to taxes assessed on the value of property) or assessed value ● Levied once (Jan. 1st) and paid twice a year ● Oh...

DIstance - correct answer · Distance is a scalar quantity that refers to "how much ground an object has covered" during its motion. Displacement - correct answer · Displacement is a vector quantity that refers to "how far out of place an object is"; it is the object's overall change in position. Position - correct answer · Position is a place where someone or something is located or has been put. In physics, position is usually a number on an axis. ... Position is a vector, b...

Most of the cell membrane's specific functions are controlled by: - correct answer Proteins Alcoholic Fermentation is a form of: - correct answer Anaerobic Respiration Phagocytosis is a form of: - correct answer Endocytosis What is a pyruvate? - correct answer Pyruvate is an important chemical compound in biochemistry. It is the output of the metabolism of glucose known as glycolysis. One molecule of glucose breaks down into two molecules of pyruvate, which are then used to pro...