Real Estate Exam Bundle | Already Passed

radioactive gas in the air that comes from the natural breakdown of uranium in soil, rock and water is: A: Mold B: Radium C: Radon D: Meth Question 45 XXX - radon A buyer wants to have the interest earned on their earnest money deposit. Which of the following statements is most...

1. Brokerage definition... - the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - schools and cemetary 3. What is an example of functional obsolescence? - bathroom 4. Principal definition... - a consumer of rea...

Unilateral Contract - Contract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract - Contract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal - A person who has entered into an agency r...

Broker - Individual licensed to charge the public for real estate services Broker-Salesperson - Fully qualified broker who remains under another broker's supervision Bureau of Subdivided Land Sales Control - State agency that approves and registers some out-of-state property Conti...

A real estate licensee has a buyer agency agreement. What is the seller in this situation? - A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? - He must exercise his ...

VALUATION - Real estate licensees must be able to discern important differences and properly understand how those differences translate into value. RESIDENTIAL SALES - -The sale of any improved residential property of four units or less. -Agricultural properties of ten acres or less. F...

The fact that an individual must go to the land describes what physical characteristics of land? - Immobility John and Mary are co-owners of a property. John has a 60% interest in the property and Mary has 40%. What type of freehold estate do they have? - Tenancy in Common A Property is ...

A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of... - improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is...

A real estate licensee may have his/her license revoked for - accepting compensation for brokerage services from someone other than the employing broker Who must comply with the state license laws? - A real property owner involved in a like kind exchange with another property owner who is r...

The concerns of the federal government in regulating real property right's include - Discrimination Which of the following is included in the bundle of rights inherent in ownership - To transfer What are three unique physical characteristics of land? - Immobile, indestructible, heter...

The rights of ownership of real property include all of the following EXCEPT - Compatibility An important characteristic of land is that it may be modified or improved at some point in time. Depending on its type, an improvement may increase the value of real estate greatly. All of the followi...

limited partnership - investors in properties invest money and receive a share of profits without being liable for the debts common tenance - have equal or unequal amounts of property and may acquire title at different times A real estate broker associated with a principal broker is allo...

The earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached, is know as - Real Estate Movable objects, which are not considered real estate, are known as - Personal Property The permanent right to use another's land...

In contrast to land that has buildings on it, vacant land is ______. - Harder to finance Camille is a young, ambitious professional who works downtown. Which of the following new construction properties would probably be of most interest to her? - City condo Bessie is a(n) ______ buyer w...