Aceable Agent - Principles of Real Estate II Exam Notes Questions and Correct Answers | Latest Update
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Course
Aceable Agent
Institution
Aceable Agent
Formulas to calculate commission?
TOTAL = PART/PERCENTAGE
PART = TOTAL x PERCENTAGE
PERCENTAGE = PART/ TOTAL
What is the term that describes the money that is lent?
PRINCIPAL
Down payment minus earnest money?
CASH TO CLOSE
Loan payment + loan principal?
TOTAL SALES ...
-1 to 4 family non-complex residential units, <1 mill
-1 to 4 family residential complex unit, <$250k
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
-75 add'l education hours
-2000 hours experience over min 1 year
-Assoc Degree or 30 course credit hours
LICENSED RESIDENTIAL APPRAISER
Qualified to appraise:
-1 to 4 residential unit, any value okay
-125 add'l education hours
-2,500 hours experience over min 2 years
-Bach Degree or higher
CERTIFIED RESIDENTIAL APPRAISER
Qualified to appraise:
-any type of property
-225 add'l education hours
-Bach Degree
-3000 hours experience over min 2.5 years
-1/2 experience must be non residential
CERTIFIED GENERAL APPRAISER
~ 1 ~ for inquiry mail me @ supergrades12@gmail.com
, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
The value of something is affected by the cost of getting a similar item elsewhere. Similar
properties should have fairly similar values.
PRINCIPLE OF SUBSTITUTION
Values are highest when the houses in a neighborhood look roughly the same.
PRINCIPLE OF CONFORMITY
A property's overall value is made up of the combined value of each of its parts. The value
added by the improvement could be higher or lower than the expense.
PRINCIPLE OF CONTRIBUTION
The condition of a property, the desirability of its location, and the market in which it exists
can always change. Appraisals are only good for one month.
PRINCIPLE OF CHANGE
1. state obj
2. list data
3. gather/record data
4. determine highest and best use
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