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15
Apr
0

Practice of Real Estate Question

Posted by on in Practice of Real Estate
A real estate agent is not able to   A) INFORM CUSTOMERS OF NEIGHBORHOOD AFFLUENCE, RACE, AND SCHOOL DISTRICTS. B) WORK WITH A CLIENT TO DETERMINE IF A PROPERTY IS SUITABLE FOR HIS FAMILY           C) ASK THE BUYER WHAT REASONS THEY HAVE TO SELL THE PROPERTY        D) EXPLAIN THE HUD-1 SETTLEMENT FORM           A real estate agent is not allowed, by law or ethics, to divulge information about a region’s demographics as far as race is concerned, however they can refer a customer to a source that will state these statistics.     ... Continue reading
15
Apr
0

Types of Agents - Real Estate Agent Exam Questions

Posted by on in Property Ownership
Types of Agents - Real Estate Agent Exam Questions   An agent has been given the power of attorney and therefore, controls all matters of real estate on behalf of a client.  Which type of agent would this be?       A) UNIVERSAL AGENT        B) FULL AGENT     C) GENERAL AGENT           D) EXCLUSIVE AGENT      A Universal Agent is authorized to perform all acts or duties his or her principal is empowered to perform. A general agent is authorized to perform a series of transactions over a  continuous period of time, unlike a Specific or Special agent,... Continue reading
15
Apr
0

Real Estate Practice Exams - Rentals and Security Deposits

Posted by on in Rental
Rentals and Security Deposits   A bank account used to hold rental security deposits can A) EARN INTEREST B) NOT EARN INTEREST C) EARN INTEREST TO BE PAID THE PROPERTY MANAGEMENT         D) EARN INTEREST BUT MUST BE PAID TO A REAL ESTATE BROKER              A property manager should (and in most jurisdictions must) place the security deposit in an interest bearing account; the interest must be paid to the tenant who originally provided the security deposit.... Continue reading
15
Apr
0

Real Estate Exam - Transfer of Title

Posted by on in Transfer of Property
Transfer of Title Practice Question   The key function of the deed is to _____________.               A) TRANSFER THE TITLE        B) GIVE NOTICE TO THE PUBLIC          C) GIVE NOTICE TO LIEN HOLDERS                  D) TRANSFER THE LEASE       The key function of the deed is to transfer the title of the property. A deed is a legal instrument that confirms the legal passing of the a property and conveys ownership.... Continue reading
15
Apr
0

Real Estate Practice Exams on Licenses

Posted by on in Valuation & Market Analysis
A brief but informative question from the Real Estate Practice Exams over Licenses.   If Bob grants his neighbor Sue to use his pond for swimming for one day, Bob has issue what to Sue? A) LICENSE B) LIEN   C) EASEMENT D) APPROPRIATIVE RIGHTS           The permission that Bob gave to Sue to use the land/pond for a day is a license, which is revocable by the grantor at any time. An easement is the right to use another's land without possessing it.... Continue reading

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