Fee simple ownership - Study guides, Class notes & Summaries
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Colorado Car Sales Exam Questions With Correct Answers and Rationales Latest Updated 2024 (GRADED A+)
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Colorado Car Sales Exam Questions With Correct Answers and Rationales Latest Updated 2024 (GRADED A+) The advertise price of a motor vehicle must include: 
Answer- Finance Charge 
Advertisement of rate of finance charge. If an advertisement states a rate of finance charge, it 
shall state the rate as an "annual percentage rate," using that term. If the annual percentage 
rate may be increased after consummation, the advertisement shall state that fact. If an 
advertisement is for credit not se...
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Ky Board of Auctioneer Test with 100% verified questions and answers
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Ky Board of Auctioneer Test with 100% verified questions and answers 
Absolute Auction -ANS After the auctioneer calls for bids on an article or lot, that article or lot cannot be 
withdrawn unless no bid is made within a reasonable time 
 
Auction with reserve -ANS when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors 
 
Auction with reserve and the sellers reserving the right to bid -ANS The auction...
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Gold Coast Real Estate Exam with Verified Answers
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Tract building - Answer- When a dev. Acquired land, records a plat map and uses a model center from which sales may be made 
 
Local level - Answer- Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate 
 
Broker associate - Answer- A licensed broker working for another broker 
 
False - Answer- A florida real estate license applicant must be a resident a...
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Basic Appraisal Procedures – McKissock test questions with verified solutions 2024.
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Valuation process 
A systematic procedure used in the valuation of real property. 
 
Steps: 
1: Define the problem 
 
2:Determine scope of work 
 
3:Gather, record, and verify the data 
 
4:Determine the highest and best use 
 
5:Estimate the land value 
 
6:Estimate value by each of the three approaches (if applicable) 
 
7:Reconcile the estimated values into the final opinion of value 
 
8:Report the final opinion of value 
 
 
 
Client 
The party or parties who engage, by employment or contra...
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Texas Real Estate Principles 1 Practice Exam: Latest Updated A+ Guide: Questions & Answers
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Courses for the renewal of an active real estate broker or sales agent license are called 
(Ans- continuing education (CE) 
 
What is the maximum amount that the Commission will pay from the real estate recovery trust account for claims against any one license holder, until the account has been repaid in full by the license holder? 
 (Ans- $100,000 
 
Which is owned by the tenant? 
 (Ans- a trade fixture 
 
Which of the following terms refers not only to the surface of the earth but also below ...
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RECA Fundamentals Exam Questions and Answers Already Passed
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RECA Fundamentals Exam Questions and Answers Already Passed 
Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) 
Which entity has the authority to amend the Real Estate Act Provincial Legislature 
Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) 
Which of the following will occur to the supply of a good when ther...
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Legal Aspects of Real Estate Final Exam 2023/2024 With Complete Solutions
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Legal Aspects of Real Estate Final Exam 2023/2024 With Complete Solutions 
Because the United States started as an English colony, our legal system is a mix 
of 
common law and civil law 
Which of the following is not one of the four main sources of law? 
Contract law 
Based on the two broad categories of law, which one covers typical cases 
involving contracts and property ownership? 
Civil law 
The California _________ is the highest court level and all courts in California are 
bound by it...
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principal of real estate 1 final exam with 100% correct answer
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One who is given a power-of-attorney that allows them to sign the name of a principal to a contract of sale is a(n): 
 
A) attorney-in-fact 
B) broker with a listing 
C) special agent 
D) attorney-at-law 
attorney-in-fact 
 
 
 
No two parcels of land are exactly alike because no two parcels can occupy the same position on the globe. This is known as: 
 
A) township 
B) section 
C) scarcity 
D) nonhomogeneity 
nonhomogeneity 
 
 
 
The five essential elements that make a contract valid are: comp...
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RELE 1211 – Law of Contracts Final Exam A+ 2023
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RELE 1211 – Law of Contracts Final Exam A+ 2023. Which of the following is FALSE regarding community property? 
a. It consists of real and personal property acquired by either spouse during the 
marriage. 
b. Its conveyance requires the signature of both spouses. 
c. The spouses can will their half of the property to whomever they desire. 
d. It can be mortgaged or conveyed by one spouse without the consent of the other. 
5. Fee simple ownership, shared walls, and a fractional interest in comm...
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CPCU 551 - Addressing Commercial Property Risk Questions And Answers 2023
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CPCU 551 - Addressing Commercial Property Risk Questions And Answers 2023 
Condominium 
A real estate development consisting of a group of units, in which the air space within the boundaries of each unit is owned by the unit owner, and all remaining real and personal property is owned jointly by all the unit owners. 
 
 
 
Condominium unit 
The portion of a condominium owned solely by a unit owner. 
 
 
 
Common elements 
Areas of a condominium that are jointly owned by all unit owners, includin...
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