Real Estate Principles - Final Exam Questions & Answers(RATED A+)(COMPLETE PACKAGE DEAL)

As part of the overall requirement for continuing education, certified and licensed appraisers must complete the 7-Hour National USPAP Update Course or its equivalent ________ calendar year(s). - AMSWER every 2 "The interaction of buyers and sellers who trade long-term or intermediate-term money...

Agent - ANSWER the party authorized to conduct business on the principal's behalf Agency - ANSWER a legal relationship between a principal and an agent Blockbusting - ANSWER the illegal practice of encouraging property owners to sell their homes when minorities begin moving into an area Br...

Which real estate specialist primarily sells monetary benefits? - ANSWER Commercial Broker Which of the following is a personal property? - ANSWER Electric fan plugged in A metes and bounds survey begins at the point of beginning and ends at the - ANSWER Point of beginning Property taxes ar...

Which statement regarding California is correct? California basic climate is called Mediterranean California has five claimant subzones California's basic climate is called continental California is the third largest Real Estate Principles Final Exam| 150 Questions| Correct 100% state i...

A real estate salesperson is supervised by the buyer or seller. the seller. any licensed broker. the employing broker only - ANSWER the employing broker only The employing broker is held accountable for the salesperson's conduct in performing business activities. When a real estate ...

What best describes pay scales among real estate agents? - ANSWER Pay levels vary, usually with years of experience. The best description of an open market system would be that - ANSWER Consumers are free to decide what they want and producers are free to supply these needs The value of all go...

When discussing the concept of total square footage with your client, what is the BEST way to describe how the total square footage is measured? A. Total area of the property measured from the inside walls of the home. B. Total Area Under Roof (TAUR) C. Measure all square footage of included...

If a real estate salesperson closes on a transaction, who pays the salesperson their commission? - ANSWER The salesperson's sponsoring broker A means of comparing similar type properties, which have recently sold, to the subject property is known as the? - ANSWER Market Comparison Approach Th...

Why have the states passed laws that require real estate brokers and sales agents to be licensed? - ANSWER to protect the public What year was the TRELA passed? - ANSWER 1949 What is the potential fine for acting as a sales agent or broker in Texas without a license? - ANSWER 4,000 Who may ...

Uses of Real Property - ANSWER (1) Residential, (2) Commercial, (3) Industrial, (4) Agricultural, (5) Special Purpose Real Estate Laws - ANSWER 1. general property laws 2. environmental laws 3. contract law 4. agency law 5. fair housing laws 6. tax laws 7. zoning and land use laws 8. real estate ...

Chapter 11: Real Estate Taxes and Other Liens - ANSWER Chapter 11: Real Estate Taxes and Other Liens Lien - ANSWER Charge or claim against a person's property, made to enforce the payment of money. -security for lender Priority of liens - ANSWER Refers to the order in which claims against the...

1. The listing is always taken in the name of the _________ and becomes the property of the ___________. A. Broker—salesperson B. Salesperson—seller C. Broker—broker D. Broker—seller - ANSWER C. Broker- broker A deed is used to transfer ownership of real estate. A bill of sale woul...