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Bob Hogue Real Estate Questions AND Answers 2024
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Bob Hogue Real Estate Questions AND Answers 2024
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Bob Hogue Real Estate QuestionsAND Answers 2024
Requirement that the infrastructure for sanitary sewers, potable water, and
waste treatment facilities be in place before new development is allowed is
the - -Concurrency Provision
-The only active general partner in a real estate brokerage partnership has
his license suspended. All of the licenses of the sales associates in that
brokerage are - -placed in inactive status
-Legal Title always passes from the seller to the buyer - -When the deed is
voluntarily delivered and voluntarily accepted
-Which property is neither exempt not immune from ad valorem property
tax? - -Undeveloped Farmland
-Description of A Check - -A square 24 Miles on each side created by
intersecting guide meridians and correction lines containing 16 townships
-A listing to sell property and obtain a specified amount for the owner-
principle is called - -Net Listing
-The key difference between police powers and eminent domain is whether -
-Any compensation was paid to an affected owner
-For real property to be depreciated it must - -Have improvements
-Special Assessments are - -used to help pay for some public improvement
that benefits the property.
-Mortgage loan payments made in regular installments of interest only with
the full principal amount plus accrued interest paid at one time at the end of
the loan period describes - -A term mortgage
-A type of deed that contains the words "remise and release" or similar
words is the - -Quitclaim Deed
-One mortgage clause NOT normally found in a VA or FHA mortgage is the -
-Prepayment Penalty clause
-Who is required to obtain a Florida Mortgage Loan originators License? - -
An agent of a state-regulated mortgage lender who takes loan application
from consumers
, -Legal Description used only in developed subdivisions - -Lot and Block
-When measuring the square footage of a house an appraiser uses - -
Exterior dimensions
-Recorded legal document that gives constructive notice that an action
affects title to a parcel of real property - -Lis Pendens
-Lan value is obtained separately when using which approached to
estimating value? - -Cost Approach
-Statement that is TRUE regarding PMI - -PMI is required on conventional
mortgage loans with a 90% LTV
-The purpose of a TRIM notice is to - -Inform property owners of the tax bill
they can expect in November
-A borrower pledges real property as collateral for repayment of a loan
without surrendering possession of the property this process is called - -
hypothecation
-A Recorded legal document that gives constructive notice that an action
affects title to a parcel of real property is called - -Lis Pendens
-When mortgage interest paid in arrears on a loan assumptions prorated the
amount up to the day of closing is - -Debited to the seller; Credited to the
buyer
-Fannie Mae DOES NOT - -Originate Federal Loans
-The four Characteristics of real estate value - -DUST (Demand, Utility,
Scarcity, Transferability)
-Economic Characteristics of real estate include - -SITUS
-Mortgage ownership is transferred from one individual to another by
executing - -An Assignment of Mortgage
-Financing arrangement that grants a buyer "equitable" title without a deed
conveying at closing from grantor to grantee is called - -A land contract
-The going concern value of a business - -Is the worth of an established
business property
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