A realtor® - Study guides, Class notes & Summaries

National Real Estate Exam Practice Questions 2024. Olivia took out a 15-year loan secured with a deed of trust. She worked two jobs in order to pay the loan back and finally made her last payment this month. What happens now? - ANSWER Because the property deed was held by a third-party trustee instead of the lender, the trustee grants a reconveyance deed to Olivia. Warren signed a contract with the Samsons for the sale of property he didn't own. What type of contract is this? - ANSWER A par...

1. Which of the following statements is true regarding a mortgage loan originator (MLO)? A mortgage loan originator is the same as a mortgage broker. *A mortgage loan originator must have a separate license. A mortgage loan originator makes loans. A mortgage loan originator must have a real estate license. 2. A real estate appraiser's fee for professional service is based on which of the following? A percentage of the property's gross income. A percentage of the fair market va...

National Real Estate Remedial Test 2024.Olivia took out a 15-year loan secured with a deed of trust. She worked two jobs in order to pay the loan back and finally made her last payment this month. What happens now? - ANSWER Because the property deed was held by a third-party trustee instead of the lender, the trustee grants a reconveyance deed to Olivia. Warren signed a contract with the Samsons for the sale of property he didn't own. What type of contract is this? - ANSWER A party can't pr...

Colibri Real Estate Final Exam (KY) 1 Questions and Answers Latest Updated Broker Joy just signed a listing agreement with a seller. When should Joy schedule an office tour? Within a week after the listing is taken What is NOT required between two parties as it relates to the violation of "mutual assent"? Written contacts Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More Title insurance protects more ...

A married couple purchased a primary residence for $600,000 in 2015. They lived there for seven years. In 2022, they sold the property for $1,000,000. How much profit will they owe capital gains tax on? - 0 What is a REALTOR®? - a member of the National Association of Realtors®. Which of the following is NOT a category of the NAR® Code of Ethics? - Duties to lenders Select the statement that describes why trade fixtures are considered personal property. - Trade fixtures are items tha...

UTAH RE EXAM QUESTIONS AND ANSWERS ALREADY PASSED Marissa, a new licensee, has some questions. Which of these questions can the Utah Association of REALTORS help answer for her? Where can I go to find marketing data on my area so i can advertise more effectively? An old colleague of yours, Patricia, is an appraiser. She was the subject of investigation by the Utah Department of Commerce. She has filed an appeal. If she wins, what could she be awarded? Travel expenses Principal brok...

MN Course 1 Exam Prep: Licensing, Agency, and Contracts Questions and Answers Already Passed How many hours of education must an applicant for a salesperson's license take in Minnesota before sitting for the exam? 30 (Course 1) How many hours of education must an applicant for a salesperson's license take in Minnesota before applying for a license? 90 (Courses 1, 2, and 3) What's a passing percentage for the Minnesota salesperson license exam? 75% How is the Minnesota Salesp...

Code of Ethics Study Guide Test. The idea of "ethics" can mean: a. Morals or personal beliefs. b. Industry practices or standards. c. Religious beliefs. d. Philosophical beliefs. e. All of the above. - CORRECT ANSWER e. All of the above. At the time the REALTOR® Code of Ethics was adopted: a. the real estate industry was well organized and noted for its professionalism. b. there were no real estate licensing laws. c. "Let the public be served" was the motto of the re...

Broker Joy just signed a listing agreement with a seller. When should Joy schedule an office tour? -Correct Answer Within a week after the listing is taken What is NOT required between two parties as it relates to the violation of "mutual assent"? -Correct Answer Written contacts Title insurance protects more against _______. -Correct Answer Past events Who has the most liability in a fiduciary relationship dispute over a real estate transaction? -Correct Answer Principal broker ...

Mississippi Real Estate Review Questions and Answers 100% Correct Mississippi Real Estate Review Questions and Answers 100% Correct Mississippi Real Estate Review Questions and Answers 100% Correct Mississippi Real Estate Review Questions and Answers 100% Correct Application for a license as a real estate broker issued for partnership, association, or corporation and one year's use of a license is _________. - ANSWER $75 A licensee may pay a fee, commission, or other compensation to anothe...