Proration - Study guides, Class notes & Summaries

COLORADO PRACTICE TEST FOR PSI EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/ The brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker: A. performs the services and represents the seller. B. is an employing broker, both represent the seller. C. is not supervised by the employing broker. D. will be an agent of the buyer. - -performs the services and represents the seller. Only a designated broker has an agency...

3. In real estate, which of the following is correct about the term "title?" - correct answer Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? - correct answer Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, and initial escrow payment at closing - usually two months' worth, are...

AYPO Real Estate Principles Of Real Estate II Exam 2024 Questions and Correct Answers. f the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) - Answer- 270 square feet An applicant is allowed to use what electronic devices during the real estate exam? - Answer- Hand-held calculator Convert the following fraction to a decimal for ease of computation: 31/25 - Answer1.24 What is the general formula t...

If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) - ️️270 square feet An applicant is allowed to use what electronic devices during the real estate exam? - ️️Hand-held calculator Convert the following fraction to a decimal for ease of computation: 31/25 - ️️1.24 What is the general formula to determine Capital Gain? - ️️Profit from Sale - Base Value = Capital Gain A pro...

Colibri Practice Test All Answers Rated A+ Real Estate Concepts Overview Title and Closing Disclosure - Title: Refers to the legal ownership of property. - Escrow Account on Closing Disclosure: The account is shown on Page 2 under "Other Costs," where taxes, prepaids, and initial escrow payments (usually two months) are itemized. Sales Price and Closing - Sales Price Reflection: The sales price is a debit to the buyer and a credit to the seller; the seller receives the price less adj...

Loss - ANSWER-a financial loss or decrease in value. Interest - ANSWER-money repaid regularly at a specified rate as compensation for money lent. Principal - ANSWER-the amount lent to a borrower to purchase a house. Mortgage - ANSWER-a secured loan that is tied to real estate, where the borrower has to pay the money back to the lender on a set schedule and amount of payments; also "liens against property" or "claims on property" Amortization - ANSWER-repayment of a loan principal...

AYPO Real Estate Principles of Real Estate II Exam Study Guide Already Passed If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) 270 square feet An applicant is allowed to use what electronic devices during the real estate exam? Hand-held calculator Convert the following fraction to a decimal for ease of computation: 31/25 1.24 What is the general formula to determine Capital Gain? Profit from ...

The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - Accurate AnswersThe selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker." An appraisal would most likely be...

COLORADO PRACTICE TEST FOR PSI QUESTIONS AND ANSWERS, RATED A+/ VERIFIED. The brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker: A. performs the services and represents the seller. B. is an employing broker, both represent the seller. C. is not supervised by the employing broker. D. will be an agent of the buyer. - -performs the services and represents the seller. Only a designated broker has an agency r...

Amortization - correct answer -The repayment of a loan principle over time Arrears - correct answer -Payment for an item or service after it's received Down Payment - correct answer -The initial payment made when buying something on credit, a ____________ is paid directly by the buyer to the seller Proration - correct answer -The allocation or distribution of an annual expense across smaller chunks of time Acreage - correct answer -A unit of measurement used to determine the size of...