Escrow accounts - Study guides, Class notes & Summaries

1. John Anderson is a licensed real estate sales associate. Under which name may he register and be licensed? a. Complete Real Estate Sales Services b. John Anderson Brokerage c. John Anderson, LLC d. John Anderson and Partners - Answer-c. John Anderson, LLC 2. A sales associate receives a binder deposit from a buyer on Monday. By the end of business on what day of the week must the broker deposit the funds into the escrow account? a. Tuesday b. Wednesday c. Thursday d. Friday - Answe...

Leasing Exam - Hard Questions and Answers 100% Correct Leasing Exam - Hard Questions and Answers 100% Correct Leasing Exam - Hard Questions and Answers 100% Correct Leasing Exam - Hard Questions and Answers 100% Correct What agreement chooses termination? - ANSWERemployment ______________ records go into NON INTEREST BEARING accounts unless discussed otherwise. - ANSWEREscrow When must all escrow money accepted by the sponsoring broker be placed in the sponsoring bro...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

DC Real Estate Law Questions and Answers Rated A+ DC Real Estate Law is created by The City Council and is enforced by the DCREC Commission consists of how many members? 9 members Commission members are appointed by the? Mayor with the advice and consent of the DC City Council Goal of the Commission To protect the public from incompetent and fraudulent practices Commission member consists of? 3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Estate Attorney, 1 Consumer M...

licensee who is affiliated with a broker in charge or a property manager in charge Associated Licensee A sub office of a company in which full-service real estate activities are conducted and at which a broker-in-charge or property manager-in-charge is licensed to conduct real estate transactions. branch office a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation Broker Broker who is designed as...

AESC EXAM QUESTIONS AND ANSWERS (VERIFIED ANSWERS) A GRADE The U.S. Farm Bills of the 1980s had significant focus on: A. reducing farm size B. the environment C. removing farm subsidies D. organic crops E. expanding international trade - Answer B The U.S. Farm Bill 2008 contained the long-troublesome policy standard of: A. alternative fuel use requirements B. farm subsidies C. high tariffs on imported agricultural products D. increased crop surplus holdings E. minimum wage standar...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers What does UST stand for? - answerUniform State Test Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for,...

Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)Real Estate Final Exam – Illinois with Complete Questions and Answers (Graded A)The purpose of a recovery fund is to: A. protect damaged licensees from clients who fail to pay earned commission. B. assist in the liquidity of a troubled brokerage th...

Dubai RERA Broker Exam Questions with Verified Solutions Which law applies to Land Registration & Ownership (Role of DLD) Law No. 7/2006 Which law applies to Designated Areas (Freehold vs Leasehold for non GCC) Regulation No. 3 of 2006 Which law applies to Regulation of Real Estate Brokers Law No. 85/2006 Which law applies to Establishment of RERA Law No. 16/2007 Which law applies to Escrow Accounts Law No. 8/2007 Which law applies to Tenancy Law Law No. 26/2007 Law ...

Champions Real Estate Finance Study Guide (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: Supply and Demand an economic concept that states that the price of a good rises and falls depending on how many people want it and depending on how much of the good is available. Q: Funding Answer: The process of transferring funds to a title or escrow company for disbursement Q: The Safe Act Answer: Designed to enhance consumer protection ...