PACKAGE DEAL FOR Superior Real Estate School EXAM 2024!!

All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity - ANSWER-D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party t...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II - ANSWER-A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a ...

Chapter 1 Vocabulary: Basic Real Estate Concepts - ANSWER-Chapter 1 Vocabulary: Basic Real Estate Concepts Bill of Sale - ANSWER-Investment used to transfer the ownership of personal property to real property Chattel - ANSWER-Another name for personal property (Movables, which are not annexed ...

Real Property includes... - ANSWER-The earth's surface downward to the center and upward to infinity Real Estate includes... - ANSWER-Improvements, buildings, fences, and trees/plants attached What is evidenced by a deed? - ANSWER-Title and conveyance What are the other terms for personal ...

if you get compensation you need ______ - ANSWER-a license Forms of compensation - ANSWER-- gift card - money - free rent -ipad -concert tickets -etc. What are activies that require you to have a license - ANSWER-(LLBEANS) List Lease Buy Exchange Auction Negotiate Sell What ...

Who creates FEMA maps? - ANSWER-Army Corps of Engineers. (Borrowers who obtain a federally related mortgage must obtain a flood certification. If the certification shows that the property is located in a flood zone, then flood insurance will be required) When is the developer of a timeshare p...

Provisional broker John works for Sandra, who is a BIC. Sandra has a listing that one of John's buyer clients wants to see. In regard to the agency relationship that will be formed with John's buyer client, what type of agency relationship will both John and Sandra have in this transaction? - ANSW...

What are the two classes of property? - ANSWER-Real property and personal property What is the land and everything permanently attached to it called? - ANSWER-Real property What type of property is referred to as everything else? - ANSWER-Personal property Is the earths surface down to the ...

What are the Bundle of Rights? - ANSWER-Timber Rights, Right to Build Homes, Mineral Rights, Access Rights, and Rights to Sell The Bundle of Rights acronym DEEPC - ANSWER-Disposition, Enjoyment, Exclusion, Possession, and Control What is the bundle of rights general rule? - ANSWER-Everything i...