Mississippi real estate - Study guides, Class notes & Summaries

Mississippi Real Estate License Law and National License Math Accurate 100%

Mississippi Real Estates Math Questions and Answers Already Passed A homeowner bought a house one year ago for $250,000. Since then, the homeowner has spent $4,000 to pave the driveway and has added a screen porch at a cost of $3,000. Total depreciation has been $6,000. What is the homeowner's adjusted basis? $251,000 A buyer secured a $125,000 loan at 4.5% interest rate. To receive a lower interest rate, the buyer was required to buy down three discount points. How much were the di...

Mississippi Real Estate Law Correct Questions & Answers (Graded A) Mississippi Real Estate Law Correct Questions & Answers (Graded A) Mississippi Real Estate Law Correct Questions & Answers (Graded A) Mississippi Real Estate Law Correct Questions & Answers (Graded A) Broker licence - ANSWER applies to every member of the broker cooperation, partnership or association who actively participate in brokerage business and when any fee paid is required. Real estate broker - ANSWER Every...

Mississippi Real Estate Exam| 195 Questions| Complete Answers

Real estate sales associate - ANSWER A licensee employed by or associated with a broker is Demographics - ANSWER Information including age, education, behavior, and other characteristics of members in a certain population is Property Manager - ANSWER A property owner who does not want to deal with the everyday tasks of managing a rental property can hire B) labor force - ANSWER All of these factors can affect the supply of real estate EXCEPT: A) demographics. B) labor force. C) const...

Fee Simple Estate - ANSWER An estate only limited by government; no other restrictions of ownership Fee Simple Estate - ANSWER also called indefeasible fee estate Freehold estates - ANSWER All fee estates are Qualified fee estate - ANSWER A fee estate that is subject to limitations other than gov't Qualified Fee estate - ANSWER also called fee simple estate Fee Simple Determinable - ANSWER Fee estate which will terminate if a condition stated in the deed comes into being or is te...

The document that is a historical summary of all the documents of title is A) a mortgage. B) a title commitment. C) an abstract of title. D) a deed of trust. - ANSWER The answer is an abstract of title. The abstract summarizes all the documents that create the chain of title; an attorney then reviews the abstract and renders a title opinion. Public records can help establish which of the following? A) Ownership B) Encumbrances C) Liens D) All of these - ANSWER The an...

Broker Michael has been a real estate broker for the past ten years but is not a licensed attorney. Can he give legal advice to his real estate clients? - ANSWER No, only if he was a licensed attorney. All licensees are required to complete ____ hours of continuing education in each licensing period. - ANSWER 16 hours For how long must a principal broker keep records? - ANSWER 3 years The minimum requirements of errors and omissions insurance are ____ per claim, ____ deductible per clai...

Can a real estate licensee appeal a hearing decision rendered by the real estate commission - ANSWER Yes, if the appeal is made within 30 days of the notice of the commissioner's action How many days does an agent have to send in the Cooperating Agreement with out-of-state real estate brokers to MREC after reaching the agreement to accept the referral - ANSWER 10 How many copies of the Cooperating Agreement with out-of-state brokers goes to the Real Estate Commission - ANSWER 2 Which o...

Mississippi Real Estate Exam Correct Questions & Answers