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BOB HOGUE SALES ASSOCIATE EXAM REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
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BOB HOGUE SALES ASSOCIATE EXAM REVIEW QUESTIONS & ANSWERS RATED 100% CORRECT!!
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Name: Score:495 Multiple choice questions
Definition 1 of 495
life blood of real estate. business of providing funds that make real estate transactions possible.
steering
lis pendens
financing
citations
Definition 2 of 495
as specific do not affect all the debtors property, applying only to a certain specified property
include property tax and special assessment lien, mortgage lien, vendors lien, construction lien
discount points
general lien
election of rights
specific liens
Term 3 of 495
rental agents
typically find a tenant for property and collect a fee
a drawing of a parcel of land showing its boundary lines
person dies intestate (without leaving a will)
person who delegates authority (client)
,Definition 4 of 495
recorded by the developer, along with the subdivision plat to maintain specific standards in the
subdivision, such as requiring certain architectural or design specifications
not disciminate against race, color, religion, sex, national origin, families w children, handicap, or
public policy
impose limitations on the use of land in an entire subdivision
preparation of contracts
general warranty deed
estate and tenancies
restrictive covenants
Term 5 of 495
revocation
most severe
when there are 2 or more liens on a property, the priority of the lien determines the order in
which the liens will be satisfied (paid off) if the property must be sold
created when a seller agrees to sell a property for a stated acceptable minimum amount
called the sellers net
broker retains the proceeds in excess of the sellers net as commission
owner receiving title
,Term 6 of 495
new licensees must not begin working until
land acquisition, subdividing and development, recording the subdivision plat map
the owner developer is a licensed broker who holds a current, valid, active real estate
license
the DBPR indicates the license has been changed to active status under the proper
broker/brokerage entity
grant or deny applications for licensure
suspend or revoke licenses and impose administrative fees
make determinations of violations
Term 7 of 495
demand
a withhold of adjudication must be disclosed on the application
desire and ability to purchase or rent goods and services
intentional deceit
the amount paid in a particular transaction, the contract price
, Term 8 of 495
joint venture
an item that was once personal property but has been permanently attached to or made
part of the real estate and is now legally considered real property
true owner of the record fails to maintain possession and the property is seized by another
owner sleeps on his rights and does not use the legal means available to remove the hostile
trespasser
the broker must have started the chain of events that resulted in a sale
procuring disputes between licensees are usually settled through an arbitration hearing
disputes between a broker and a buyer/seller be litigated in court
temporary form of business arrangement
if 2 parties from a joint venture to provide real estate services for compensation, both
parties must be licensed real estate brokers
Term 9 of 495
exclusive listing
right to use the land of another for a specific and limited purpose
agent- one broker
commission-to listing broker if not sold by owner
additional education, experience, and passing the broker license exam
transaction broker, single agent, no brokerage relationship
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