ASREB Practice Exam from Book Questions & Answers Verified 100% Correct!!
4 views 0 purchase
Course
ASREB
Institution
ASREB
ASREB Practice Exam from Book Questions & Answers Verified 100% Correct!!
A 3.45-acre lot sells for 50 cents per square foot. What was the selling price?
a. $37,570
b. $75,141
c. $76,230
d. $78,712
b. $75,141
A blind ad refers to an ad that
a. provides no price
b. provides no address
c....
ASREB Practice Exam from Book Questions & Answers
Verified 100% Correct!!
A 3.45-acre lot sells for 50 cents per square foot. What was the selling price?
a. $37,570
b. $75,141
c. $76,230
d. $78,712
b. $75,141
A blind ad refers to an ad that
a. provides no price
b. provides no address
c. gives no indication that the property is listed with a broker
d. gives no indication that the property has been sold or not
c. gives no indication that the property is listed with a broker
A borrower is required to put 10% down for the purchase of a property. The 10%
down would be considered
a. equity
b. boot
c. tax shelter
d. leverage
a. equity
A broker, acting as a property manager, would be what type of agent?
a. special
b. general
c. implied
d. ostensible
b. general
A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no
further payments. What clause would the lender now exercise?
a. alienation
b. habendum
c. novation
d. acceleration
d. acceleration
When a new home is still under construction, the County Assessor may
a. increase the assessed value ratio
b. increase the full cash value
c. decrease the tax rate
d. appeal the limited property value
b. increase the full cash value
A contract has been signed, but title has not yet passed. The contract is
a. executed
b. executory
, c. recorded
d. estopped
b. executory
A handicapped person is leasing a house that requires a modification. Which of
the following is TRUE about the modifications?
a. the lessor may forbid handicapped modifications
b. the lessor can require the lessee to reasonably restore the property at the end
of the lease
c. the lessor must pay for the modifications
d. the lessor can increase the rent due to the risk of the handicapped person
b. the lessor can require the lessee to reasonably restore the property at the end of the
lease
A holdover tenant would have a(n)
a. estate at sufferance
b. estate at will
c. freehold estate
d. remainder estate
a. estate at sufferance
Which of these property qualifications is used for vacant land?
a. Class 1
b. Class 2
c. Class 3
d. Class 4
b. Class 2
A house costs $100,000. The buyer is making a down payment of $32,000 and
getting a $68,000 loan. If there are 4 points, how much money will be paid out of
the closing for the points?
a. $400
b. $1,280
c. $2,720
d. $4,000
c. $2,720
A lender refuses to loan or limits loans in a certain minority neighborhood. This
action is called
a. steering
b. blockbusting
c. redlining
d. territory allocation
c. redlining
A lessee puts in a bookcase for commercial use; at the end of the lease the
bookcase is removed. The bookcase would be considered:
a. real property
b. trade fixture
c. appurtenant
d. chattel real
b. trade fixture
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 LectDan. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
