Bob Hogue Real Estate Questions || 100% ACCURATE ANSWERS
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Bob Hogue
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Bob Hogue
Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment facilities be in place before new development is allowed is the correct answers Concurrency Provision
The only active general partner in a real estate brokerage partnership has his license suspended. All ...
Bob Hogue Real Estate Questions || 100% ACCURATE
ANSWERS
Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment
facilities be in place before new development is allowed is the correct answers Concurrency
Provision
The only active general partner in a real estate brokerage partnership has his license
suspended. All of the licenses of the sales associates in that brokerage are correct answers
placed in inactive status
Legal Title always passes from the seller to the buyer correct answers When the deed is
voluntarily delivered and voluntarily accepted
Which property is neither exempt not immune from ad valorem property tax? correct answers
Undeveloped Farmland
Description of A Check correct answers A square 24 Miles on each side created by
intersecting guide meridians and correction lines containing 16 townships
A listing to sell property and obtain a specified amount for the owner-principle is called
correct answers Net Listing
The key difference between police powers and eminent domain is whether correct answers
Any compensation was paid to an affected owner
For real property to be depreciated it must correct answers Have improvements
Special Assessments are correct answers used to help pay for some public improvement that
benefits the property.
Mortgage loan payments made in regular installments of interest only with the full principal
amount plus accrued interest paid at one time at the end of the loan period describes correct
answers A term mortgage
A type of deed that contains the words "remise and release" or similar words is the correct
answers Quitclaim Deed
One mortgage clause NOT normally found in a VA or FHA mortgage is the correct answers
Prepayment Penalty clause
Who is required to obtain a Florida Mortgage Loan originators License? correct answers An
agent of a state-regulated mortgage lender who takes loan application from consumers
Legal Description used only in developed subdivisions correct answers Lot and Block
When measuring the square footage of a house an appraiser uses correct answers Exterior
dimensions
, Recorded legal document that gives constructive notice that an action affects title to a parcel
of real property correct answers Lis Pendens
Lan value is obtained separately when using which approached to estimating value? correct
answers Cost Approach
Statement that is TRUE regarding PMI correct answers PMI is required on conventional
mortgage loans with a 90% LTV
The purpose of a TRIM notice is to correct answers Inform property owners of the tax bill
they can expect in November
A borrower pledges real property as collateral for repayment of a loan without surrendering
possession of the property this process is called correct answers hypothecation
A Recorded legal document that gives constructive notice that an action affects title to a
parcel of real property is called correct answers Lis Pendens
When mortgage interest paid in arrears on a loan assumptions prorated the amount up to the
day of closing is correct answers Debited to the seller; Credited to the buyer
Fannie Mae DOES NOT correct answers Originate Federal Loans
The four Characteristics of real estate value correct answers DUST (Demand, Utility,
Scarcity, Transferability)
Economic Characteristics of real estate include correct answers SITUS
Mortgage ownership is transferred from one individual to another by executing correct
answers An Assignment of Mortgage
Financing arrangement that grants a buyer "equitable" title without a deed conveying at
closing from grantor to grantee is called correct answers A land contract
The going concern value of a business correct answers Is the worth of an established business
property
Which information is the best indicator of a loan applicants willingness to repay debt correct
answers Credit Score
A first mortgage holder can agree to take a lower lien priority using which instrument correct
answers Subordination Agreement
Court Decision (Case Law) build on the body of correct answers Common Law
A broker has an agreement with a local rental car agency. The agreement stipulates that the
broker will pay a $25 referral fee to the rental car agency for each prospective buyer referred
to the broker. Which applies? correct answers The broker is in violation of Chapter 475, F.S.,
because he has promised to compensate an unlicensed person for the referral of real estate
business.
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