Exam (elaborations)
Michigan Real Estate Exam questions n answers graded A+ already passed
- Course
- Institution
Michigan Real Estate Exam questions n answers graded A+ already passed
[Show more]
Content preview
Michigan Real Estate ExamAll of the following include a real estate interest except:
A. Apple trees
B. Farm equipment
C. Air rights
D. Barns - correct answer ✔✔B. Farm equipment
An owner of a 90 acre parcel of land wishes to split the land without platting. Under the michigan land
devision act, how many parcels may this owner get if he does not create any new roads?
A. 12
B. 14
C. 10
D. 8 - correct answer ✔✔A. 12
In estimating the value of a single-family home, an appraiser would most likely use which approach?
A. Income
B. Capitalization Rate
C. Gross Rent
D. Market - correct answer ✔✔D. Market
at the closing table, A land contract vendee receives which of the following rights?
A. Redemption
B. Laches
C. Legal Title
D. Possession - correct answer ✔✔D. Possession
A Section Contains:
,A. 460 acres
B. 43,560 sq. ft.
C. 650 acres
D. 27,878,400 sq. ft. - correct answer ✔✔D. 27,878,400 sq. ft.
all of the following could cause economic obsolescence except:
A. a nearby factory
B. high-interest rates
C. aging kitchen
D. air pollution - correct answer ✔✔C. aging kitchen
all but which of the following must be disclosed on the seller's disclosure?
A. A farm operation in the vicinity
B. The presence of high levels of radon gas or asbestos
C. The presence of underground storage tanks
D. The house was a crack house - correct answer ✔✔D. the house was a crack house
Agent Fanny believes seller Henry is unrealistic about the pricing of his house and refuses the listing.
Fannys actions are:
A. illegal due to Federal Fair Housing Laws
B. Illegal due to price-fixing
C. Legal because she can refuse a listing if not marketable
D. Illegal due to uniform vendor and purchaser risk act - correct answer ✔✔C. Legal because she can
refuse a listing if not marketable
Dower rights apply to:
A. all widows
B. a wife
C. a window not on the title
, D. A single man who dies instate - correct answer ✔✔C. a window not on the title
an applicant for a real estate license in Michigan must:
A. have 2 years of college
B. pass a national exam
C. Be of good moral character
D. Be at least 21 - correct answer ✔✔C. Be of good moral character
a buyer usually pays all the following except
A. Appraisal fee
B. Transfer tax
C. Credit Report
D. Origination fee - correct answer ✔✔B. Transfer tax
to obtain a Michigan broker's license a non-resident must
A. have a license in another state
B. File an irrevocable consent with his resident state
C. Transfer his license from the other state
D. Establish a principle place of business in Michigan - correct answer ✔✔D. Establish a principle place of
business in Michigan
you could have your Michigan real estate license revoked for all of the following except
A. putting escrow money in your savings account
B. Running a blind advertisement
C. Charging a commission higher than other brokers
D. Being found guilty of a felony - correct answer ✔✔C. Charging a commission higher than other
brokers
you are showing homes to a buyer customer, you would not be required to:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
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!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
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.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Sakayobako30. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81298 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
