Managing broker - Study guides, Class notes & Summaries

Licensing - Renewals/ Termination Etc - ️️Brokers license renews by 6/30 of even years ($50) Salesp must renew by 9/30 of even years ($40) -2 yrs salesperson before broker - broker must notify MREC within 72 hours of termination - Salesperson has 6 months to find new broker or place on inactive - Listings belong to broker (transfer req written consent) - "Dual Contracts" to deceive lender = federal offense MO Admin Hearing Commission (MAHC) - ️️Determines guilt/innocence; i...

Comprehensive SIE Practice Exam Questions with Verified Solutions What role does the syndicate desk play during an equity offering? It is responsible for creating an order book and managing the allocation of shares. What advantage does investing in index funds offer? Index funds typically incur lower management fees because they follow a passive management approach. How does a primary distribution differ from a secondary distribution? A primary distribution involves the issuer s...

Indiana broker Ralph hasn't been the most trustworthy real estate agent, and a hearing before the Real Estate Commission found him guilty of several license law violations. Among other things, he's assessed a civil penalty of $3,000. Ralph refuses to pay, even though he has plenty of money to cover it. What's NOT true about this situation? The amount of the civil penalty will increase by 2.5% monthly until it's paid. The civil penalty covers at least three separate violations. The c...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

What must happen with all funds in a sale - ️️All money that belongs to clients or customers must be deposited in the brokerage trust fund as soon as possible ASAP after receipt . A property's value is $ 125,000 and its land value is $ 10,000 . Assuming a depreciation term of 35 years , what is the amount of annual depreciation ? - ️️depreciation ? Total value $ 125,000- $ 10,000 land = $115,000 improvements / 35 years = $ 3,286 annual depreciation 21. MATH PROBLEM : GROSS RENT MU...

1) What is your take-home from a if the total commission for the sale was 6%, which equaled $13,545.00 if you have a 70/30 split with your broker? a) $6772.50 b) $4740.75 c) $3254.76 d) $6000.00 - b) $4,740.75 Assuming there is a co-broker involved with a 50/50 $13,545.00 / 2 = $6,772.50 (this is the amount split W/your broker) $6,772.50 X 70% = $4,740.75 2) What is a CAM license for? a) Listing property b) Managing apartment building c) Managing building projects d) Manager of a su...

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...

Dubai RERA Broker Exam Study Guide 2024 Questions and Answers Verified Highest Burj Khalifa - CORRECT ANSWER-829,8 (2722 ft) Business Bay number of buldings - CORRECT ANSWER-240 (completed 2008) Palm Jumeirah - CORRECT ANSWER-3 Palms 520 km by Nakheel Al Maktoum International Airport - CORRECT ANSWER-Projected anual capacity 160 Million passanger The World Island - CORRECT ANSWER-by Nakheel Dubai Land Department (DLD) - CORRECT ANSWER-The main objective of DLD is to organize and docum...

In Illinois, the real estate license law is administered by the...? - IDFPR (Bureau of Real Estate Professions) How are the nine members of the Real Estate Administration and Disciplinary Board Selected? - By the governor What is the name given to the Illinois license laws under which brokers and salespeople practice? - Real Estate License Act of 2000 After May 1, 2011, the new license categories are: - Managing Broker and Broker After April 30, 2012, as an alternative to passing the prof...