Donaldson Final Exam Real Estate principal Questions & Answers 100% Correct!!
10 views 0 purchase
Course
Donaldson Real Estate principal
Institution
Donaldson Real Estate Principal
Which of the following is an economical characteristic of land? - ANSWERSitus
A man gave his best friend the right to go hunting on his farm. This would be an example of a (an): - ANSWEREasement in gross
You and your spouse own your house in a form of ownership in which neither of you can sel...
Donaldson Final Exam Real Estate
principal Questions & Answers 100%
Correct!!
Which of the following is an economical characteristic of land? - ANSWERSitus
A man gave his best friend the right to go hunting on his farm. This would be an example of a (an):
- ANSWEREasement in gross
You and your spouse own your house in a form of ownership in which neither of you can sell the
house individually your form of ownership is most likely: - ANSWERTenancy by entirety
Joint Tennessee is a form of: - ANSWERCoownership
A joint tenant may transfer his or her interest under which of the following circumstances? -
ANSWERAt any time, without permission or approval, but the purchaser will not be a joint tenant
A natural object , such as a boulder stream or tree, maybe use as a marker in what form of legal
description - ANSWERMetes and bounds
What is the method of land description that identify as parcel by its shape boundaries? -
ANSWERMetes and bounds
Does Zone of property with a gas station is substantially changed to allow residential use only
which of the following is true regarding the future use of a gas station - ANSWERThe gas Station
may continue in is current use
,When discussing the concept of total square footage with your client , what is the best way to
describe how the total square footage is measurement ? - ANSWERTotal are under Roof (TAUR)
An Eastman by necessity is generally utilized to - ANSWERGrant access to a Landlocked land owner
The process of taking property while providing just compensation, is called -
ANSWERcondemnation
An Easement by necessity is generally utilized to - ANSWERGrant access to land lock land owner
Which of the following grants zoning authority to municipal government? - ANSWERState enabling
act
Zoning laws, building codes in environmental law or example of government use of -
ANSWERPolice power
An appraisal uses. the cost approach, in appraiser a home the appraisal should not use which of
the following type of information - ANSWERDepreciation on the lane
For consideration during the appraisal process, which of the following is most likely be used as part
of the valuation or estimation process - ANSWEREffective age
An agent is trying to establish value for a residential rental home, using sold, rental comparables,
in the neighborhood which of the following is the most likely methods use for the income
approach to value - ANSWERGross rent multiply method
Which of the following types of depreciation is general in curable - ANSWER
The amount of commission charged a client is established - ANSWERIn negotiation between broker
and seller.
A deposit in a typical Real Estate transaction - ANSWERMust be maintained by the broker
,In the brokers designated escrow
Account.
When the association of an associate broker or salesperson is terminated with their firm for any
reason, the broker must return the license to the LREC: - ANSWERWith in 5 days
If a broker is involved in obtaining deposits in property management, the broker must -
ANSWERopen an account titled "Security Deposit Trust Account".
Sale people cannot accept a commission or valuable consideration for the performance of any act
under the license law from any person except their - ANSWERSponsoring broker
According to the license law must be . - ANSWERIn writing
If a broker cannot resolve a dispute over a sales deposit - ANSWERhe must give the money to the
local court and notify commission .
Every license must sign a sworn statement on their application attesting that they shall not induce
any person to sell or rent and dwelling by representation regarding the entry of any person to the
area due to that persons race color religion or national origin this prohibited is know as -
ANSWERBlock busting
A law suite base on lesion by and moiety must be filled within - ANSWEROne year
If two or more person own the same piece of property each as an undivided share , this is refined
to ad a - ANSWERUndivided interest
A vendor who wishes to keep a life interest and convey the remainder to a relative may best do
this by which of the following methods? - ANSWER
you sign lease for one year and took possession of an apartment when the lease expired you
continued to live in the apartment without the owner consent your tendency would be considered
to be - ANSWERTenancy at sufferances
, A man gave his best friend the right to go hunting on his farm. This would be an example of a (an):
- ANSWEReasement in gross
Zoning regulations and decision are usually handle by - ANSWERTown and cities
Ad valorem is Latin for - ANSWERAccording to value
A property is sold under a deed restriction ( CCR) that state s the property may not be use as a
bakery under these conditions which of the following is true? - ANSWERA adjoining property
owner may enforce the restriction by a court injunction
John own a peace of property and want to build a new structure with in 15 feet of his property line
how ever local law requires a 20 foot set back for any improvement he should apply to the local
government for a - ANSWER
Disclosing a suicide or murder that occurred on the property - ANSWERnot a material fact
Material Facts include - ANSWEReasements.
encroachments.
and
structural issues.
Of the following, which would not be considered a material fact that should be disclosed to a
purchaser if the agent is representing the seller and is aware of the situation? - ANSWERThe
previous owner murdered his wife in the home and committed suicide.
Defects that a seller is required by law to correct include: - ANSWERnone of the above
The current occupancy of the property by someone with HIV is: - ANSWERillegal to disclose.
A seller has slab problems which have resulted in cracked walls. The seller covers up the cracks and
does not disclose to anyone that there is a problem. Under these conditions, which of the
following is true? - ANSWERthe buyers can sue the seller for concealing the defect.
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 papersbyjol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
