Proration - Study guides, Class notes & Summaries

Aceable Agent Principles of Real Estate 2 Question with complete solution 2023/2024Amortization - 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 o...

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? Handheld 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 property owner borrows $490,000 at a 12% i...

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) - 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 - ANSWER 1.24 What is the general formula to determine Capital Gain? - ANSWER Profit from Sale - Base Value = Capital Gain ...

Amortization - ANSWER repayment of a loan principal over time based on a predetermined schedule of payments Arrears - ANSWER payment for an item or service after it is received Proration - ANSWER the allocation or distribution of an annual expense across smaller chunks of time square footage - ANSWER Length x Width acreage - ANSWER 1 acre= 43,560 appraial - ANSWER the value of a property, based on factors determined by the opinion of a certified appraiser general data - A...

Illinois State Test- Broker Exam Questions and Answers 100% Correct Illinois State Test- Broker Exam Questions and Answers 100% Correct Illinois State Test- Broker Exam Questions and Answers 100% Correct Illinois State Test- Broker Exam Questions and Answers 100% Correct Illinois State Test- Broker Exam Questions and Answers 100% Correct How far back does a typical title search in Illinois go? - ANSWER-40 Years Who is the recorder of deeds for the county in Illinois? - ANSWER-C...

What is the purpose of discount points? - It increases the yield to lenders How is the payoff of the seller's loan shown on the worksheet? - Debit to seller and credit to buyer What happens to items listed in B2 of the title commitment? - They appear as exceptions unless removed prior to closing Bill Buyer is purchasing Sam Seller's home and assuming the existing loan. The interest on the loan is $1200 paid in arrears. The closing is March 1, 2009. How is the interest shown on the Worksheet...

5% of 1,500 = The answer is 75. To determine a part of a whole, multiply the rate by the total. For example, 5% of 1,500 = 75 (0.05 × 1,500 = 75). This formula is used in calculating mortgage loan interest, brokers' commissions, loan origination fees, discount points, and income on investment property. Remember: MULTIPLY when PART is the UNKNOWN. In 2016, taxes on Don Mark's home were paid in full and amounted to $1,468. He sold the home to Chuck Harris and closed the sale on August 29, 2017...

AYPO Real Estate Principles Of Real Estate II Exam 2024 Questions and Correct Answers. 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) - 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 ...

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...

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...