Package deal
Rockwell Real Estate BUNDLED exams 2023 with 100% correct answers
Rockwell Real Estate exam 2023 with 100% correct answers Rockwell Cram Exam #3 2023 with 100% correct answers
[Show more]Rockwell Real Estate exam 2023 with 100% correct answers Rockwell Cram Exam #3 2023 with 100% correct answers
[Show more]1. A survey has been completed, and stakes have been placed marking off the property. The survey can be used to: 
 
A. construct fences and driveways 
B. measure soil stability 
C. determine freehold interests 
D. verify known liens - correct answer A: survey may be used to determine the exact loc...
Preview 3 out of 26 pages
Add to cart1. A survey has been completed, and stakes have been placed marking off the property. The survey can be used to: 
 
A. construct fences and driveways 
B. measure soil stability 
C. determine freehold interests 
D. verify known liens - correct answer A: survey may be used to determine the exact loc...
Which of the following people might bring a suit for specific performance? - correct answer A buyer in a real estate transaction in which the seller backed out one day before closing 
 
Once a lender issues a veteran a VA-guaranteed loan, the veteran: - correct answer immediately becomes liable ...
Preview 2 out of 8 pages
Add to cartWhich of the following people might bring a suit for specific performance? - correct answer A buyer in a real estate transaction in which the seller backed out one day before closing 
 
Once a lender issues a veteran a VA-guaranteed loan, the veteran: - correct answer immediately becomes liable ...
Adjusted basis is initial basis... - correct answer plus capital expenditures, less depreciation 
 
A loans interest is best defined as... - correct answer a charge paid by a borrower in exchange for use of the lenders money. 
 
Deborah sells her property to Juan, but Juan fails to record the de...
Preview 1 out of 4 pages
Add to cartAdjusted basis is initial basis... - correct answer plus capital expenditures, less depreciation 
 
A loans interest is best defined as... - correct answer a charge paid by a borrower in exchange for use of the lenders money. 
 
Deborah sells her property to Juan, but Juan fails to record the de...
Which of the following loans would be subject to the Truth In Lending Act? - correct answer A loan to a first-time home buyer 
 
Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at c...
Preview 3 out of 16 pages
Add to cartWhich of the following loans would be subject to the Truth In Lending Act? - correct answer A loan to a first-time home buyer 
 
Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at c...
3 methods of legal description - correct answer Metes and Bounds - Local. Describes the property location in the location itself 
 
Government Survey method - Used to identify the location of the property in reference to the united states survey map. Meridian and Baselines, Range and township line...
Preview 2 out of 13 pages
Add to cart3 methods of legal description - correct answer Metes and Bounds - Local. Describes the property location in the location itself 
 
Government Survey method - Used to identify the location of the property in reference to the united states survey map. Meridian and Baselines, Range and township line...
Freehold Estate - correct answer Is an interest in real property that has an indeterminable (not fixed or certain) referred to as a owner 
 
Fee Simple Estate - correct answer Is the greatest estate that can exist in land, the highest and most complete form of ownership. It is potentially infini...
Preview 3 out of 25 pages
Add to cartFreehold Estate - correct answer Is an interest in real property that has an indeterminable (not fixed or certain) referred to as a owner 
 
Fee Simple Estate - correct answer Is the greatest estate that can exist in land, the highest and most complete form of ownership. It is potentially infini...
At what point in a transaction must you disclose your agency status in writing? - correct answer -Before a party signs an offer 
 
You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require writ...
Preview 3 out of 18 pages
Add to cartAt what point in a transaction must you disclose your agency status in writing? - correct answer -Before a party signs an offer 
 
You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require writ...
A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: 
a. quitclaim deed 
b. bill of sale 
c. special warranty deed 
d. general warranty deed - correct answer b. bill of sale 
 
Deeds transfer title to real estate, a bill of sale is gene...
Preview 4 out of 68 pages
Add to cartA buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: 
a. quitclaim deed 
b. bill of sale 
c. special warranty deed 
d. general warranty deed - correct answer b. bill of sale 
 
Deeds transfer title to real estate, a bill of sale is gene...
At what point in a transaction must you disclose your agency status in writing? 
 
A. at closing 
B. when first meeting any potential party to the transaction 
C. when a party signs an offer 
D. Before a party signs an offer - correct answer D. Before a party signs an offer 
 
You must disclose yo...
Preview 3 out of 30 pages
Add to cartAt what point in a transaction must you disclose your agency status in writing? 
 
A. at closing 
B. when first meeting any potential party to the transaction 
C. when a party signs an offer 
D. Before a party signs an offer - correct answer D. Before a party signs an offer 
 
You must disclose yo...
Which of the following loans may involve a balloon payment? 
 
a. Fully amortized 
 
b. Partially amortized 
 
c. Interest-only 
 
d. Both B and C - correct answer d. Both B and C 
 
Explanation: Only with a fully amortized loan will all of the principal balance be paid off at the end of the loan ...
Preview 2 out of 10 pages
Add to cartWhich of the following loans may involve a balloon payment? 
 
a. Fully amortized 
 
b. Partially amortized 
 
c. Interest-only 
 
d. Both B and C - correct answer d. Both B and C 
 
Explanation: Only with a fully amortized loan will all of the principal balance be paid off at the end of the loan ...
Once a contract for deed is signed by the parties, the buyer immediately receives: 
 
A. a life estate 
B. legal title 
C. equitable title 
D. the right to lease the property - correct answer C. equitable title 
 
A buyer receives equitable title to the property once the land contract has been sig...
Preview 4 out of 46 pages
Add to cartOnce a contract for deed is signed by the parties, the buyer immediately receives: 
 
A. a life estate 
B. legal title 
C. equitable title 
D. the right to lease the property - correct answer C. equitable title 
 
A buyer receives equitable title to the property once the land contract has been sig...
Jesse, Kim, and Diane own a home together as joint tenants. If Jesse dies, her property interest: - correct answer will be automatically transferred (conveyed) to Kim and Diane 
 
Frank gives Stella an option to buy his house. Stella, as the optionee, is obligated to: - correct answer pay consid...
Preview 2 out of 9 pages
Add to cartJesse, Kim, and Diane own a home together as joint tenants. If Jesse dies, her property interest: - correct answer will be automatically transferred (conveyed) to Kim and Diane 
 
Frank gives Stella an option to buy his house. Stella, as the optionee, is obligated to: - correct answer pay consid...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller YANCHY. Stuvia facilitates payment to the seller.
No, you only buy these notes for $40.49. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now