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CE SHOP NATIONAL EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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CE SHOP NATIONAL EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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CE SHOP NATIONAL EXAM 2024/2025WITH 100% ACCURATE SOLUTIONS
Title XI of the Financial Institutions Reform, Recovery, and
Enforcement Act of 1989 states that its purpose, in part, is to require that
real estate appraisals used in connection with federally related
transactions be performed ______.
By licensed real estate professionals
By members of the Appraisal Foundation
In the most expeditious and inexpensive way possible
In writing, and in accordance with uniform standards - Precise Answer
✔✔In writing, and in accordance with uniform standards
Kurt bought a vacant lot in a development that was 85% completed.
When he started working with the builder to lay out where the house and
driveway would lie, it was determined that he would need an easement
because his driveway would spill over onto the adjacent lot by a few
feet. What type of easement is this?
Easement appurtenant
,Easement by necessity
Easement by prescription
Easement in gross - Precise Answer ✔✔Easement appurtenant
Brittany has a small office in a professional building. She has a set
monthly lease payment that has been calculated to include maintenance
of the common areas in the building, such as the restroom and small
kitchen, and all nets, utilities, and janitorial charges for her space. The
payment also includes taxes and insurance. The landlord takes these
payments and pays the individual expenses himself. What type of lease
does Brittany have?
Graduated lease
Gross lease
Net lease
Percentage lease - Precise Answer ✔✔Gross lease
(In a gross lease, all expenses related to the property, such as taxes,
insurance, and maintenance, are part of the lease payment.)
,Which of these is a violation of the RRP Rule?
A homeowner performs DIY work in a home built prior to 1978.
A seller of a home built in 1952 doesn't make the appropriate lead
disclosures.
Contractors from a home improvement store install windows or doors.
Contractors perform renovations that disturb lead-based paint without
holding proper certification. - Precise Answer ✔✔Contractors perform
renovations that disturb lead-based paint without holding proper
certification.
(The federal Lead Renovation, Repair, and Painting (RRP) Rule requires
firms that do renovation or repair work in homes built prior to 1978 to
be properly certified in using lead-safe work practices, but it doesn't
prohibit DIY work.)
Marketo Building Designs is selling the air rights above its office
building. The lot is 450 feet by 350 feet. How would you determine the
air lot height in order to calculate the area?
The area of an air lot can't be calculated because the height is unlimited.
, The city or other governing authority establishes the air lot's height.
The height of all air lots is 500 feet above the existing structure.
The height of the air lot is equal to the height of the structure under it. -
Precise Answer ✔✔The city or other governing authority establishes the
air lot's height.
Nathan was painting the siding on his home when he was interrupted by
a neighbor who informed him that he had to have the paint color
approved before using it. Nathan lives in a neighborhood with
________.
Conditions
Environmental regulations
HOA regulations
Police power - Precise Answer ✔✔HOA regulations
(HOA regulations are often used to enforce a certain visual or aesthetic
style in a neighborhood.)
An example of this type of leasehold estate is a month-to-month lease.
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