Real estate stuvia - Study guides, Class notes & Summaries

NY Real Estate State Exam (Mult Choice) Practice Questions and Answers 100% Pass An agency relationship is determined by: a) the source of compensation b) how well the parties know each other c) agreement between the principal and the agent d) first substantive contract - ANSWER-c) agreement between the principal and the agent Heat from outside air is utilized through a: se conditioner ve solar system pump air return - ANSWER-c) heat pump An automatic renewal clause in a lease is. ...

NY Real Estate Practice Exam Questions with Correct Answers 100% Pass 1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - ANSWER-c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real ...

NYS Real Estate Practice Exam Questions and Answers 100% Pass What agency issues real estate licenses? - ANSWER-The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - ANSWER-18 Do you need experience in the field to become a sales person? - ANSWER-No What is the minimum age to become a real estate broker? - ANSWER-20 If your license is revoked, how long do you have to wait to re-apply for it? - ANSWER-One year ...

When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? Never A set of guidelines for the ethical conduct of real estate licensees is called a Code of ethics Which of the following is the best definition of a covenant between a lessor and lessee? An agreement or promise made between the parties Which party's closing costs might include mortgage insurance? Buyer The Real Estate Settlement Procedures Act i...

New York Real Estate Exam Prep Questions and Answers 100% Pass The situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker - ANSWER--Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low offer because the seller is desperate to sell. The buyer offers $85,000 and the seller accepts it. In this situations: -The broker has vio...

Real Estate U Pass the NY State Exam Study Guide Solutions The Department of State - ANSWER-- Primarily responsible for issuing real estate licenses, pocket cards, and handing down disciplinary action - Provides advertising guidelines for brokers Article 12-A of the NYS Real Property Law - ANSWER-Outlines the roles/duties of the Department of State Commissions - ANSWER-- Commissions are paid by the client (buyer or seller depending on the transaction) to the brokers involved in the trans...

Real Estate U Final Exam Study Guide with Complete Solutions Article 12-A of the NYS Real Property Law - ANSWER-The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age Sponsor - ANSWER-A licensed real estate broker that holds the license of a salesperson. "Summary of Your Submission" -...

REM 300 Midterm Test Study Guide Solutions Different Types of Estates - ANSWER-Life, Future, Lease, Fee Simple Fee Simple Estate - ANSWER-Most complete bundle of rights. The typical type of Canadian Property. NAFTA Property Rights - ANSWER-Mexico and USA have property rights but Canadian citizens don't Included in the Bundle of Rights - ANSWER-Use of Property, Sell or lease, inheritance of property Deed - ANSWER-Legal Document through which rights are transfered Leasehold Estate - AN...

Rockwell Real Estate Exam Questions and Answers 100% AccurateRockwell Real Estate Exam Questions and Answers 100% AccurateRockwell Real Estate Exam Questions and Answers 100% AccurateRockwell Real Estate Exam Questions and Answers 100% AccurateRockwell Real Estate Exam Questions and Answers 100% Accurate Freehold Estate - ANSWER-Is an interest in real property that has an indeterminable (not fixed or certain) referred to as a owner Fee Simple Estate - ANSWER-Is the greatest estate that can e...

Mississippi State Real Estate Correct Questions & Answers (SCORED A)Mississippi State Real Estate Correct Questions & Answers (SCORED A)Mississippi State Real Estate Correct Questions & Answers (SCORED A)Mississippi State Real Estate Correct Questions & Answers (SCORED A) How many years must members of the Mississippi Real Estate Commission be licensed as brokers before being appointed to the commission? - ANSWER Five The responsible broker in a company is the person - ANSWER responsible for...