Real estate unit 5 - Study guides, Class notes & Summaries

IAAO 300: Complete Course Review Questions and Answers 100% Pass What is the main difference between single property appraisal and mass appraisal? 1. Group vs Particular 2. Mass Appraisal emphasizes standardized and statistical quality control features In the Appraisal Process, "Define the valuation problem" does not include which of the following: a. Define the Value to be developed b. Identify limiting conditions or limitations c. Date of the value d. Competitive properties e. Identify...

1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up wi...

Real Estate Unit 5All of these are ways to express a legal description EXCEPT a. lot and block. b. metes and bounds. c. rectangular survey. d. benchmarks. - correct answer d. A benchmark is a permanent reference point used as a reference for marking datums, not a method of legal description. Air lots, condominium descriptions, and other vertical measurements may be computed from the U.S. Geological Survey a. datum. b. benchmark. c. principal meridian. d. base line. - correct answer a....

Ohio Real Estate Exam test bank Questions with answers 2023May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive CORRECT A...

Delaware License Laws, Rules, and Regulations Unit 1-4 Section 16 Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers) The Delaware Real Estate Commission: The Delaware Real Estate Commission is the ultimate enforcer of real estate laws and regulations in Delaware. 2. Commission Members and Qualifications: -Composed of nine members, all appointed by the governor. -All commission members must have resided in Delaware for 5 or longer directly prior to their appointmen...

GA MLS Real Estate Unit 5-8.

Professional Home Inspector Exam NHIE / TREC Questions and Answers Already Passed Document Content and Description Below Professional Home Inspector Exam NHIE / TREC Questions and Answers Already Passed The inspector is not required to determine ____ ___ of any system or component. -Years of age -Life expecta ncy -Make model Horizontal waste pipe should slope ____ inch per foot 1/4" per foot if < 3 inch pipe. 1/8" per foot if > or = to 3 inch pipe Drip screed Also called weep screed. U...

Charles Barnes Real Estate Questions and Answers Already Passed How does the Code define Real Estate??? Any interest or estate in real property, within or without the State of Oklahoma, whether vested, continent or future, corporeal or incorporeal, freehold or nonfreehold, and including leaseholds, options and unit ownership estates to include condominiums, time-shared ownerships and cooperatives; provided, however, that the term "real estate" show not include oil, gas or other miner...

Which of the following is most vital or important in planning a subdivision: - ANSWER-Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWER-Percentage Lease What is not an adequate method of transferring property? - ANSWER-Executive Sale What is considered personal property? - ANSWER-Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value...