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Donaldson RE Natl Final Exam With 100% Correct And Verified Answers
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Donaldson RE Natl Final Exam With 100% Correct And Verified Answers
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Donaldson RE Natl Final Exam With100% Correct And Verified Answers
A real estate development corporation purchased land for a
condominium project. The corporation most likely took title to the
land
A. as a general partnership.
B. as a joint tenant.
C. In severalty.
D. as a syndication. - Correct Answer-D. as a syndication.
Pulls funds for the development of projects
Man made markers such as a steel rod or concrete post may be
part of what type of legal description?
A. Metes and Bounds
B. Subdivision System
C. Lot & Block
D. Government Survey System - Correct Answer-A. Metes and
Bounds
Which of the following is an economic characteristic of land?
A. Non-homogeneity
B. Indestructibility
C. Immobility
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,D. Situs - Correct Answer-D. Situs
If an unmarried couple wished to purchase a home together and
have the right of survivorship, which form of ownership would
they choose?
Select one:
A. Tenancy at Will
B. Joint Tenancy
C. Tenancy in Common
D. Tenancy by the Entirety - Correct Answer-B. Joint Tenancy
The process of taking property while providing just compensation
is called:
Select one:
A. escheat.
B. eminent domain.
C. police power.
D. condemnation. - Correct Answer-D. condemnation.
CC&Rs can be recorded by whom?
Select one:
A. Only by subdivision developers.
B. Only by the civil sheriff.
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,C. Only for one year at a time and must be renewed.
D. By any property owner, usually the developer or current
owner of the subdivision. - Correct Answer-D. By any
property owner, usually the developer or current owner of
the subdivision.
Zoning regulations and decisions are usually handled by:
Select one:
A. towns and cities.
B. the federal government.
C. the state government.
D. the courts. - Correct Answer-A. towns and cities.
Which of the following is most likely used in the cost
approach?
Select one:
A. future value of residential comparable property
B. original cost of building or improvement
C. a competitive market analysis
D. estimating cost of building using today's
cost - Correct Answer-D. estimating cost of
building using today's cost
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, The Principal of Substitution is most directly
illustrated in the ______________________ to value
by valuing a subject by comparing it to
recently sold equivalent properties and the
price they sold for.
Select one:
A. the Cost Approach
B. the Market Price method
C. the Income Approach
D. the Sales Comparison Approach - Correct
Answer-D. the Sales Comparison Approach
Which of the following types of depreciation
is generally incurable?
Select one:
A. Physical deterioration
B. Physical depreciation
C. Economic obsolescence
D. Functional obsolescence - Correct Answer-
C. Economic obsolescence
You are appraising a property in which seller
motivation is a significant factor. The
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