THE MISSISSIPPI REAL ESTATE EXAM PACK 2024!!THE MISSISSIPPI REAL ESTATE EXAM PACK 2024!!THE MISSISSIPPI REAL ESTATE EXAM PACK 2024!!THE MISSISSIPPI REAL ESTATE EXAM PACK 2024!!THE MISSISSIPPI REAL ESTATE EXAM PACK 2024!!THE MISSISSIPPI REAL ESTATE EXAM PACK 2024!!THE MISSISSIPPI REAL ESTATE ...
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Real versus personal property - ANSWER real property: Real estate and the bundle of rights Personal property: all property that is not land or permanently attached to land, excepting trade fixtures and emblements. Physical characteristics of land - ANSWER immobility, indestructibility, and he...
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Add to cartReal versus personal property - ANSWER real property: Real estate and the bundle of rights Personal property: all property that is not land or permanently attached to land, excepting trade fixtures and emblements. Physical characteristics of land - ANSWER immobility, indestructibility, and he...
Included among legal requirements of taking title to real property as tenants in common is that? - ANSWER Each co-owner's interest may be conveyed separately. A homeowner employed a contractor to build a swimming pool. The owner did not pay, what time of lien is NOT represented by this lien? - A...
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Add to cartIncluded among legal requirements of taking title to real property as tenants in common is that? - ANSWER Each co-owner's interest may be conveyed separately. A homeowner employed a contractor to build a swimming pool. The owner did not pay, what time of lien is NOT represented by this lien? - A...
Can a real estate licensee appeal a hearing decision rendered by the real estate commission - ANSWER Yes, if the appeal is made within 30 days of the notice of the commissioner's action How many days does an agent have to send in the Cooperating Agreement with out-of-state real estate brokers to...
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Add to cartCan a real estate licensee appeal a hearing decision rendered by the real estate commission - ANSWER Yes, if the appeal is made within 30 days of the notice of the commissioner's action How many days does an agent have to send in the Cooperating Agreement with out-of-state real estate brokers to...
Special situations, where unusual facts exist or where one or more parties involved are especially vulnerable, could require additional disclosures not contemplated. in such cases, brokers - ANSWER should seek legal advice prior to entering into an agency relationship If a broker, as escrow agent...
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Add to cartSpecial situations, where unusual facts exist or where one or more parties involved are especially vulnerable, could require additional disclosures not contemplated. in such cases, brokers - ANSWER should seek legal advice prior to entering into an agency relationship If a broker, as escrow agent...
Can a real estate licensee appeal a hearing decision rendered by the real estate commission - ANSWER Yes, if the appeal is made within 30 days of the notice of the commissioner's action How many days does an agent have to send in the Cooperating Agreement with out-of-state real estate brokers to...
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Add to cartCan a real estate licensee appeal a hearing decision rendered by the real estate commission - ANSWER Yes, if the appeal is made within 30 days of the notice of the commissioner's action How many days does an agent have to send in the Cooperating Agreement with out-of-state real estate brokers to...
Fee Simple Estate - ANSWER An estate only limited by government; no other restrictions of ownership Fee Simple Estate - ANSWER also called indefeasible fee estate Freehold estates - ANSWER All fee estates are Qualified fee estate - ANSWER A fee estate that is subject to limitations other th...
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Add to cartFee Simple Estate - ANSWER An estate only limited by government; no other restrictions of ownership Fee Simple Estate - ANSWER also called indefeasible fee estate Freehold estates - ANSWER All fee estates are Qualified fee estate - ANSWER A fee estate that is subject to limitations other th...
A developer may not sell, offer, or dispose of a timeshare interest unless all necessary registration requirements are completed and approved by: - ANSWER the Real Estate Commission Which of the following has the duty of supervising and controlling all aspects of the offering of a timeshare plan?...
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Add to cartA developer may not sell, offer, or dispose of a timeshare interest unless all necessary registration requirements are completed and approved by: - ANSWER the Real Estate Commission Which of the following has the duty of supervising and controlling all aspects of the offering of a timeshare plan?...
Who are exempt from having a real estate license? - ANSWER Public officials The following people may be excluded from holding a real estate license exept? - ANSWER A person who places an ad on the internet under their responsible broker The 5 commissioners appointed by the governor with advise...
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Add to cartWho are exempt from having a real estate license? - ANSWER Public officials The following people may be excluded from holding a real estate license exept? - ANSWER A person who places an ad on the internet under their responsible broker The 5 commissioners appointed by the governor with advise...
Hearing - ANSWER To offer testimony and to examine witness. - 15 days notice and copy of complaint. Held at MREC Subpoena - ANSWER Issued for attendance and production of books and papers First Violation - ANSWER Not less $500 Not more $1000. Not more 90 Days Second Violation - ANSWER Not...
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Add to cartHearing - ANSWER To offer testimony and to examine witness. - 15 days notice and copy of complaint. Held at MREC Subpoena - ANSWER Issued for attendance and production of books and papers First Violation - ANSWER Not less $500 Not more $1000. Not more 90 Days Second Violation - ANSWER Not...
How many years must members of the Mississippi Real Estate Commission be licensed as brokers before being appointed to the commission? - ANSWER Five The responsible broker in a company is the person - ANSWER responsible for the daily real estate activities of the company. The temporary license...
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Add to cartHow many years must members of the Mississippi Real Estate Commission be licensed as brokers before being appointed to the commission? - ANSWER Five The responsible broker in a company is the person - ANSWER responsible for the daily real estate activities of the company. The temporary license...
broker - ANSWER a person or company licensed to buy, sell, exchange, or lease real property for others for compensation Real estate brokerage - ANSWER is the business of bringing people together in a real estate transaction salesperson - ANSWER Any person, other than an associate broker, who a...
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Add to cartbroker - ANSWER a person or company licensed to buy, sell, exchange, or lease real property for others for compensation Real estate brokerage - ANSWER is the business of bringing people together in a real estate transaction salesperson - ANSWER Any person, other than an associate broker, who a...
Who are exempt from having a real estate license? - ANSWER Public Official holding an auction. The following people may be excluded from holding a real estate license exceptA person who places an ad on the internet under their responsible broker. - ANSWER A person who places an ad on the internet...
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Add to cartWho are exempt from having a real estate license? - ANSWER Public Official holding an auction. The following people may be excluded from holding a real estate license exceptA person who places an ad on the internet under their responsible broker. - ANSWER A person who places an ad on the internet...
How many days does an agent have to send in the Cooperating Agreement with out-of- state real estate brokers to MREC after reaching the agreement to accept referral. - ANSWER 10 Can a real estate licensee appeal a hearing decision rendered by the real estate commission? - ANSWER Yes, if the appea...
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Add to cartHow many days does an agent have to send in the Cooperating Agreement with out-of- state real estate brokers to MREC after reaching the agreement to accept referral. - ANSWER 10 Can a real estate licensee appeal a hearing decision rendered by the real estate commission? - ANSWER Yes, if the appea...
how is real estate used in 3 fundamental ways? - ANSWER 1. most common use is to identify the tangible assets of land and buildings 2. used to denote the "bundle" of rights with ownership and use of physical assets 3. used to refer to the industry or business activities related to the acquis...
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Add to carthow is real estate used in 3 fundamental ways? - ANSWER 1. most common use is to identify the tangible assets of land and buildings 2. used to denote the "bundle" of rights with ownership and use of physical assets 3. used to refer to the industry or business activities related to the acquis...
The required disclosures for a property that is proposed to be transferred must be set out on a copy of a disclosure form as provided by: - ANSWER the MREC. All licensees are required to complete ____ hours of continuing education in each licensing period. - ANSWER 16 hours Barack is an out-of...
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Add to cartThe required disclosures for a property that is proposed to be transferred must be set out on a copy of a disclosure form as provided by: - ANSWER the MREC. All licensees are required to complete ____ hours of continuing education in each licensing period. - ANSWER 16 hours Barack is an out-of...
Broker Michael has been a real estate broker for the past ten years but is not a licensed attorney. Can he give legal advice to his real estate clients? - ANSWER No, only if he was a licensed attorney. All licensees are required to complete ____ hours of continuing education in each licensing per...
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Add to cartBroker Michael has been a real estate broker for the past ten years but is not a licensed attorney. Can he give legal advice to his real estate clients? - ANSWER No, only if he was a licensed attorney. All licensees are required to complete ____ hours of continuing education in each licensing per...
MREC - ANSWER State agency To regulate licensing of brokers in sales person Broker - ANSWER Anyone who sells, buys, leases, etc. property for a fee Responsible non-resident broker - ANSWER Licensed in another state but no Mississippi license sales person - ANSWER Licensee employed by broker...
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Add to cartMREC - ANSWER State agency To regulate licensing of brokers in sales person Broker - ANSWER Anyone who sells, buys, leases, etc. property for a fee Responsible non-resident broker - ANSWER Licensed in another state but no Mississippi license sales person - ANSWER Licensee employed by broker...
Acre - ANSWER A measure of land equal to 43,560 sq feet Life Estate - ANSWER An interest in real or personal property that is limited in duration to the lifetime of its owner or some other designated person or persons Condemnation - ANSWER A judicial or administrative proceeding to exercise th...
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Add to cartAcre - ANSWER A measure of land equal to 43,560 sq feet Life Estate - ANSWER An interest in real or personal property that is limited in duration to the lifetime of its owner or some other designated person or persons Condemnation - ANSWER A judicial or administrative proceeding to exercise th...
Someone who is licensed in Mississippi to sell, buy, or lease real estate for a fee is defined as a a. real estate salesperson. b. responsible nonresident broker. c. real estate broker. d. personal assistant. - ANSWER c. real estate broker. The primary purpose of the Mississippi Real Estat...
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Add to cartSomeone who is licensed in Mississippi to sell, buy, or lease real estate for a fee is defined as a a. real estate salesperson. b. responsible nonresident broker. c. real estate broker. d. personal assistant. - ANSWER c. real estate broker. The primary purpose of the Mississippi Real Estat...
Real estate sales associate - ANSWER A licensee employed by or associated with a broker is Demographics - ANSWER Information including age, education, behavior, and other characteristics of members in a certain population is Property Manager - ANSWER A property owner who does not want to deal ...
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Add to cartReal estate sales associate - ANSWER A licensee employed by or associated with a broker is Demographics - ANSWER Information including age, education, behavior, and other characteristics of members in a certain population is Property Manager - ANSWER A property owner who does not want to deal ...
An important distinction between real and personal property is that personal property: A. Is taxed at a lower rate when sold or transferred B. Is movable C. Requires a different legal description D. Is not subject to supply and demand measures - ANSWER B The economic and physical characteris...
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Add to cartAn important distinction between real and personal property is that personal property: A. Is taxed at a lower rate when sold or transferred B. Is movable C. Requires a different legal description D. Is not subject to supply and demand measures - ANSWER B The economic and physical characteris...
Application for a license as a real estate broker issued for partnership, association, or corporation and one year's use of a license is _________. - ANSWER $75 A licensee may pay a fee, commission, or other compensation to another licensee directly. - ANSWER False A REALTOR® is a licensee w...
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Add to cartApplication for a license as a real estate broker issued for partnership, association, or corporation and one year's use of a license is _________. - ANSWER $75 A licensee may pay a fee, commission, or other compensation to another licensee directly. - ANSWER False A REALTOR® is a licensee w...
Broker licence - ANSWER applies to every member of the broker cooperation, partnership or association who actively participate in brokerage business and when any fee paid is required. Real estate broker - ANSWER Every member, owner, partnership, associations and cooperation who for fee commission...
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Add to cartBroker licence - ANSWER applies to every member of the broker cooperation, partnership or association who actively participate in brokerage business and when any fee paid is required. Real estate broker - ANSWER Every member, owner, partnership, associations and cooperation who for fee commission...
Mississippi State Agency which was created by 73-35-5 to regulate the licensing of real estate brokers and salespersons, which it's duties and authorities are included in the law. - ANSWER Mississippi Real Estate Commission MREC Any leasehold, interest, or estate in land, including timeshares an...
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Add to cartMississippi State Agency which was created by 73-35-5 to regulate the licensing of real estate brokers and salespersons, which it's duties and authorities are included in the law. - ANSWER Mississippi Real Estate Commission MREC Any leasehold, interest, or estate in land, including timeshares an...
Property Ownership - ANSWER An item that has a legal owner, along with the attendant rights to legal ownership. Real Property - ANSWER Ownership of real estate and the bundle of rights associated with owning real estate. Personal Property - ANSWER Ownership of anything which is not real estat...
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Add to cartProperty Ownership - ANSWER An item that has a legal owner, along with the attendant rights to legal ownership. Real Property - ANSWER Ownership of real estate and the bundle of rights associated with owning real estate. Personal Property - ANSWER Ownership of anything which is not real estat...
C - ANSWER Someone who is licensed in MS to sell, buy, or lease real estate for a fee is defined as a a. real estate sales person b. responsible nonresident broker c. real estate broker d. personal assistant b - ANSWER the primary purpose of the Mississippi Real Estate Commission is to ...
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Add to cartC - ANSWER Someone who is licensed in MS to sell, buy, or lease real estate for a fee is defined as a a. real estate sales person b. responsible nonresident broker c. real estate broker d. personal assistant b - ANSWER the primary purpose of the Mississippi Real Estate Commission is to ...
What is a Real Estate Broker - ANSWER Includes all persons, partnerships, associations and corporations (Foreign or domestic) who List, sell, purchase, exchange, rent, lease, manage, auction, or negotiate real estate for a free commission Additional Terms for a Real estate Broker - ANSWER -Any Pe...
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Add to cartWhat is a Real Estate Broker - ANSWER Includes all persons, partnerships, associations and corporations (Foreign or domestic) who List, sell, purchase, exchange, rent, lease, manage, auction, or negotiate real estate for a free commission Additional Terms for a Real estate Broker - ANSWER -Any Pe...
Can a real estate licensee appeal a hearing decision rendered final by the real estate commission? - ANSWER Yes, if the appeal is made within 30 days of the notice of commission's action. How many days does any agent have to send in the Cooperating Agreement with out-of-state real estate brokers...
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Add to cartCan a real estate licensee appeal a hearing decision rendered final by the real estate commission? - ANSWER Yes, if the appeal is made within 30 days of the notice of commission's action. How many days does any agent have to send in the Cooperating Agreement with out-of-state real estate brokers...
Who is required to have areal estate license? - ANSWER Anyone advertising, selling or leasing property on behalf of others or carrying out real estate business on behalf of others. Who is exempt from having a real estate license? - ANSWER 1. Attorneys at law in the performance of primary or incid...
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Add to cartWho is required to have areal estate license? - ANSWER Anyone advertising, selling or leasing property on behalf of others or carrying out real estate business on behalf of others. Who is exempt from having a real estate license? - ANSWER 1. Attorneys at law in the performance of primary or incid...
A real estate professional who helps clients choose among the various alternatives involved in purchasing, using, or investing in property is A) a real estate appraiser. B) a real estate educator. C) a home inspector. D) a real estate counselor. - ANSWER The answer is a real estate counse...
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Add to cartA real estate professional who helps clients choose among the various alternatives involved in purchasing, using, or investing in property is A) a real estate appraiser. B) a real estate educator. C) a home inspector. D) a real estate counselor. - ANSWER The answer is a real estate counse...
The document that is a historical summary of all the documents of title is A) a mortgage. B) a title commitment. C) an abstract of title. D) a deed of trust. - ANSWER The answer is an abstract of title. The abstract summarizes all the documents that create the chain of title; an attorne...
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Add to cartThe document that is a historical summary of all the documents of title is A) a mortgage. B) a title commitment. C) an abstract of title. D) a deed of trust. - ANSWER The answer is an abstract of title. The abstract summarizes all the documents that create the chain of title; an attorne...
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