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Aceable Agent - Finance bundled exams 2023 with 100% complete solutions
Aceable Agent - Finance exam 2023 with 100% complete solutions Aceable Agent Principles of Real Estate 2 Practice Test exam 2023 with complete answers
[Show more]Aceable Agent - Finance exam 2023 with 100% complete solutions Aceable Agent Principles of Real Estate 2 Practice Test exam 2023 with complete answers
[Show more]Broker's Price Opinion (BPO) correct answersA broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property 
 
Closing correct answersThe completion of a real estate transaction in which the buyer receives ow...
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Add to cartBroker's Price Opinion (BPO) correct answersA broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property 
 
Closing correct answersThe completion of a real estate transaction in which the buyer receives ow...
1x sold
TOTAL = PART/PERCENTAGE 
PART = TOTAL x PERCENTAGE 
PERCENTAGE = PART/ TOTAL correct answersFormulas to calculate commission? 
 
PRINCIPAL correct answersWhat is the term that describes the money that is lent? 
 
CASH TO CLOSE correct answersDown payment minus earnest money? 
 
TOTAL SALES PRICE cor...
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Add to cartTOTAL = PART/PERCENTAGE 
PART = TOTAL x PERCENTAGE 
PERCENTAGE = PART/ TOTAL correct answersFormulas to calculate commission? 
 
PRINCIPAL correct answersWhat is the term that describes the money that is lent? 
 
CASH TO CLOSE correct answersDown payment minus earnest money? 
 
TOTAL SALES PRICE cor...
The Real Estate Law is found in 
A. The Licensing Code 
B. The Business and Professions Code 
C. The Health and Safety Code 
D. The Corporations Code correct answersB. Business and Professions Code 
 
The Real Estate Commissioner reports to 
a. the California Bureau of Real Estate. 
b. the govern...
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Add to cartThe Real Estate Law is found in 
A. The Licensing Code 
B. The Business and Professions Code 
C. The Health and Safety Code 
D. The Corporations Code correct answersB. Business and Professions Code 
 
The Real Estate Commissioner reports to 
a. the California Bureau of Real Estate. 
b. the govern...
what is one way a co-op sales contract differs from the sales contract for a single-family home? correct answersthe co-op sales contract includes a section detailing what the buyer must do it they hope to gains the corporations board approval (One of the most important differences is that purchasing...
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Add to cartwhat is one way a co-op sales contract differs from the sales contract for a single-family home? correct answersthe co-op sales contract includes a section detailing what the buyer must do it they hope to gains the corporations board approval (One of the most important differences is that purchasing...
TEXAS REAL ESTATE LICENSE ACT (TRELA) 1939 correct answersWho was the first legislation created to govern the real estate profession in Texas? 
 
TEXAS REAL ESTATE COMMISSION (TREC) 1949 correct answersWhich commission was created to enforce TRELA (it's main purpose)? Also regulates educational and...
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Add to cartTEXAS REAL ESTATE LICENSE ACT (TRELA) 1939 correct answersWho was the first legislation created to govern the real estate profession in Texas? 
 
TEXAS REAL ESTATE COMMISSION (TREC) 1949 correct answersWhich commission was created to enforce TRELA (it's main purpose)? Also regulates educational and...
C. client 
A real estate agent works exclusively with buyers. They have chosen a specialization that focuses on the: 
A. geographical area 
B. commission split 
C. client 
D. property type 
 
 
 
C. sales prices are more negotiable for buyers 
Which of the following describes a buyers market? 
A. It...
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Add to cartC. client 
A real estate agent works exclusively with buyers. They have chosen a specialization that focuses on the: 
A. geographical area 
B. commission split 
C. client 
D. property type 
 
 
 
C. sales prices are more negotiable for buyers 
Which of the following describes a buyers market? 
A. It...
Seller's Market correct answersFew houses; lots of buyers. Buyer unlikely to get closing costs paid by seller or any bargains. 
 
Buyer's Market correct answersMany houses; few buyers. Prices more negotiable. 
 
Real estate brokerage correct answersbusiness of bringing together buyers & sellers, o...
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Add to cartSeller's Market correct answersFew houses; lots of buyers. Buyer unlikely to get closing costs paid by seller or any bargains. 
 
Buyer's Market correct answersMany houses; few buyers. Prices more negotiable. 
 
Real estate brokerage correct answersbusiness of bringing together buyers & sellers, o...
VOID correct answersA contract that has no legal effect. 
 
VOIDABLE correct answersWhen one or more of the parties has the authority to rescind the contract. It appears to be valid, but one party may disaffirm because they are a minor, were subject to duress, or a victim of fraud or misrepresentati...
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Add to cartVOID correct answersA contract that has no legal effect. 
 
VOIDABLE correct answersWhen one or more of the parties has the authority to rescind the contract. It appears to be valid, but one party may disaffirm because they are a minor, were subject to duress, or a victim of fraud or misrepresentati...
Committee Members (12) correct answers7: License holders that have been in practice for at least five years. 
4: Real Estate instructors/owners of real estate schools. (education members) 
1: Represents the public. 
 
Educational Standards Advisory Committee (ESAC) correct answersThey review and rev...
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Add to cartCommittee Members (12) correct answers7: License holders that have been in practice for at least five years. 
4: Real Estate instructors/owners of real estate schools. (education members) 
1: Represents the public. 
 
Educational Standards Advisory Committee (ESAC) correct answersThey review and rev...
Abstract of Title correct answersThe condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurat...
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Add to cartAbstract of Title correct answersThe condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurat...
Florida Real Estate Commission (FREC) correct answersquasi-judicial body that administers and enforces license law in FL (makes rules & hears disciplinary actions) 
Rules: 61J2 of Fl Admin code 
 
61J2 FL Admin code correct answersFREC rules (technically not law) - directions based on Chapter 475 
 ...
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Add to cartFlorida Real Estate Commission (FREC) correct answersquasi-judicial body that administers and enforces license law in FL (makes rules & hears disciplinary actions) 
Rules: 61J2 of Fl Admin code 
 
61J2 FL Admin code correct answersFREC rules (technically not law) - directions based on Chapter 475 
 ...
What is investment gain? correct answersan increase in property value due to active and purposeful developments or improvements 
 
Ben has recently purchased a policy for title insurance. Two weeks after making his purchase, it is revealed that there were unknown liens attached to the title. What is...
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Add to cartWhat is investment gain? correct answersan increase in property value due to active and purposeful developments or improvements 
 
Ben has recently purchased a policy for title insurance. Two weeks after making his purchase, it is revealed that there were unknown liens attached to the title. What is...
Broker Thelma lives in North Carolina. Can she be the qualifying broker for an LLC in Georgia? correct answersYes, a nonresident broker can serve as a qualifying broker for any corporation, limited liability company, or partnership licensed by GREC. 
 
A firm in Georgia sends out an email advertisin...
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Add to cartBroker Thelma lives in North Carolina. Can she be the qualifying broker for an LLC in Georgia? correct answersYes, a nonresident broker can serve as a qualifying broker for any corporation, limited liability company, or partnership licensed by GREC. 
 
A firm in Georgia sends out an email advertisin...
Which of these is a red flag for predatory lending? correct answersThere are unexpected, undisclosed lender fees that appear at closing. 
 
Percy is a broker who oversees three agents. If one of the agents violates the law, which of the following is TRUE of Percy? correct answersBecause of his vicar...
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Add to cartWhich of these is a red flag for predatory lending? correct answersThere are unexpected, undisclosed lender fees that appear at closing. 
 
Percy is a broker who oversees three agents. If one of the agents violates the law, which of the following is TRUE of Percy? correct answersBecause of his vicar...
What is an acre? correct answersStandard unit used to measure the area of land equal to 43,560 feet 
 
Which of the below is TRUE regarding a property's street address? correct answersIt is convenient but should not be considered legally adequate 
 
With which type of land description does a survey...
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Add to cartWhat is an acre? correct answersStandard unit used to measure the area of land equal to 43,560 feet 
 
Which of the below is TRUE regarding a property's street address? correct answersIt is convenient but should not be considered legally adequate 
 
With which type of land description does a survey...
Amortization correct answersThe repayment of a loan principle over time 
 
Arrears correct answersPayment for an item or service after it's received 
 
Down Payment correct answersThe initial payment made when buying something on credit, a ____________ is paid directly by the buyer to the seller 
 ...
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Add to cartAmortization correct answersThe repayment of a loan principle over time 
 
Arrears correct answersPayment for an item or service after it's received 
 
Down Payment correct answersThe initial payment made when buying something on credit, a ____________ is paid directly by the buyer to the seller 
 ...
Square footage correct answersLength x Width 
 
Price per square foot correct answersAsking price ÷ Total square footage 
 
Asking price correct answersTotal square footage x Price per square foot 
 
Volume correct answersLength x Width x Height 
 
Solving for acerage correct answersTotal square fo...
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Add to cartSquare footage correct answersLength x Width 
 
Price per square foot correct answersAsking price ÷ Total square footage 
 
Asking price correct answersTotal square footage x Price per square foot 
 
Volume correct answersLength x Width x Height 
 
Solving for acerage correct answersTotal square fo...
Here are the four major types of agency acts: correct answersListing 
Buying 
Leasing 
Property Management 
 
TREC's purpose is to correct answersregulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the T...
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Add to cartHere are the four major types of agency acts: correct answersListing 
Buying 
Leasing 
Property Management 
 
TREC's purpose is to correct answersregulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the T...
Apartment Locator correct answersa real estate license holder who locates dwelling units for prospective tenants 
 
Tenant correct answersa holder of land rights; a person who holds the right to live in a residence; an occupant 
 
Broker correct answersAn agent that can own a real estate firm and ca...
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Add to cartApartment Locator correct answersa real estate license holder who locates dwelling units for prospective tenants 
 
Tenant correct answersa holder of land rights; a person who holds the right to live in a residence; an occupant 
 
Broker correct answersAn agent that can own a real estate firm and ca...
Truth in Lending Act (TILA) correct answersa federal law intended to ensure that credit terms are disclosed in a meaningful way so consumers can compare credit terms more readily and knowledgeably; it protects consumers against inaccurate and unfair credit billing and credit card practices 
 
TILA c...
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Add to cartTruth in Lending Act (TILA) correct answersa federal law intended to ensure that credit terms are disclosed in a meaningful way so consumers can compare credit terms more readily and knowledgeably; it protects consumers against inaccurate and unfair credit billing and credit card practices 
 
TILA c...
General Data correct answersIs information about a property's location. This could include the city, region, and neighborhood in which the poperty uis situated. 
 
Specific Data correct answersIs information regarding the property itself. 
 
Principle if Anticipation correct answersThe idea that th...
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Add to cartGeneral Data correct answersIs information about a property's location. This could include the city, region, and neighborhood in which the poperty uis situated. 
 
Specific Data correct answersIs information regarding the property itself. 
 
Principle if Anticipation correct answersThe idea that th...
commercial property correct answersA real estate specialty. Commercial property includes: Office buildings, Retail Stores, gas stations 
 
Industrial property correct answersIncludes commercial property used for: manufacturing, storage, distribution centers, research, warehousing 
 
Home inspector c...
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Add to cartcommercial property correct answersA real estate specialty. Commercial property includes: Office buildings, Retail Stores, gas stations 
 
Industrial property correct answersIncludes commercial property used for: manufacturing, storage, distribution centers, research, warehousing 
 
Home inspector c...
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