An illegal real estate practice caused by inciting fear and panic selling by suggesting that persons of minority background are or may be moving into an area or that the majority of residents are moving out of an area. a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. Real Estate Exam Things to Remember (62 cards) 2020-09-03 8 Real Estate Key Concepts (39 cards) 2020-08-15 8 All about Financing including: mortgages, deeds of … The mortgage amount relative to the property price is called... 97. Well, the term 'estate' literally refers to the land and … What is the salespersons obligation to a buyer under single agency listing? See what they are achieving. What is a mortgage that includes both real and personal property? But when real-estate values began to decline, much … Our real estate exam prep comes with over 500 practice real estate exam questions, and 450 vocabulary test questions with detailed answer explanations, up … inform borrowers of HOME MORTGAGE LOANS of closing cost. Typically who pays for title insurance? 67. 59. 98. The tests include questions on general real estate topics. 33. The #1 real estate exam prep option Between our real estate prep course, real estate practice exams and video lessons - there is no better way to prepare for your real estate exam. 58. The summary is usually prepared so that it may be recorded thereby creating a (judgment) lien on real estate owned by the judgment debtor. Real Estate Express, $225... 1st you take $30000 in multiply it by 9% for the total a…, []A square normally 1 mile on a side.... []The Land Ordinance of…, air,water, land and everything affixed to it, Transfer, Exchange, Exclude, Use, Possess (TEE UP), immobility, indestructibility, and heterogeneity, demand, utility, scarcity, transferability, situs (DUSTS), Hold the money until both parties (or their lawyers) provide a…, Yes, any defects known to the broker should have been disclose…, Contract containing ONE promise given in exchange for completi…, Contract containing TWO promises. What is the most reliable method of appraisal for residential real estate? What is an example of external depreciation? An MLS can only be accessed by real estate … 75. 73. Choose from 500 different sets of nj real estate flashcards on Quizlet. The real estate agent usually works for a broker or brokerage agency. Quickly memorize the terms, phrases and much more. Learn nj real estate test with free interactive flashcards. Cram.com makes it easy to … 2. 36. Usually written into a mortgage to allow the lender to acceler…, The value of the real property established for tax purposes. https://quizlet.com/121366480/real-estate-practice-exam-questions-flash-cards Proper listing price of the property... 69. Looking to take your real estate classes online? the unlawful practice of refusing real estate related business services based on location of a person's real property. 55. What is a type of depreciation that is not curable? Learn real estate with free interactive flashcards. In the rapidly rising real-estate market of the mid-1980's, those practices posed no major problem. 8. 80. What are two examples of special use property? The lender receives a share of capital gain at time of sale. What would not be a depreciation of value? the value of real estate above any debt on that property. Cards Return to Set Details. Additional Real Estate & Planning Flashcards . The property manager must know how to set up the rent for … A real estate agent or salesperson is an individual licensed to sell and rent real estate. At the first discussion of needs and motivation. Loan origination fee is a debit to whom? To simulate the actual exam, try our New York Real Estate Salesperson Practice Exam. What is the role of a mortgage broker? What should you do about material defect disclosures? What is true about the contract rules regarding printed form sales agreement? Characteristics of sale and leaseback... 83. Method of attachment... 3. 17. Who determines the commission in a listing contract? a type of listing in which a seller desires to sell real property and receive a guaranteed amount of money for the sale, so that the broker's commission is any sale price amount of money over and above the guaranteed price to the seller. What is a mortgage that will not fully amortize the loan? can they make monthly rent payments on time. All are federal income tax deductions for a homeowner except... 74. 85. Real Estate Practice Tests. Don't rely on the outdated material on other real estate practice exam sites. (Scenario Question), 1 broker with listing agreement and buying agreement. The opportunities for success are limitless. Our online school offers everything you need to know to become a successful real estate agent today and ace your exam with confidence! 64. 44. It protects the lender if their is default. 50. The rights to use the space above the earth may be sold or leased independently, provided the rights have not been limited by law. 62. 81. Choose from 500 different sets of real estate flashcards on Quizlet. 94. A veteran real estate agent that really knows how to serve you and sell your home A rookie real estate agent because they charge the least Detailed Answer: Even though Dave spent most of his early career in real estate, he wouldn’t think of risking the sale of his home without an expert real estate … 15. 11. The tests include questions on general real estate topics. All are examples of single agency disclosures with the exception of. Abstract of Title A summary of the instruments affecting title to a parcel of real property as shown by the public records. Within this course, you will be taught about real estate laws, financing, fair housing, construction, environmental issues, property management and a … Choose from 500 different sets of nj real estate test flashcards on Quizlet. Except when listing broker does not disclose information. All are characterisitics of a contract for a deed except... the buyer receives title when the contract is signed. 57. Who are the parties in a listing agreement? What has the greatest effect on real estate value? What is the formula for the Gross Rent Multiplier? If an owner's annual property taxes on a $100,000 home are $540 and the house is assessed at 20% of value, what is the tax rate per thousand dollars of evaluation? What type of property would be most appropriate to use the cost approach method? A CMA is not an appraisal - and should n…, protect the lender due to the low down payments made by FHA bo…. 34. It is the government taking private property for public good. Pearson VUE offers Broker and Sales practice tests for $19.95. What is a characteristic of negative amortization? What is an example of functional obsolescence? I…, A written agreement between the owner and a purchaser for the…, Generally, those parts of the condominium or apartment buildin…, At lease expiration, if the man does not remove them, An Appurtenant Easement- an easement for adjacent properties o…, A real estate license is required in Florida if one negotiates…, The secondary market and participants provide stability for ho…, Taxes and insurance, are often prepaid at closing to establish…, The Comparative Market Analysis (CMA) is a tool for licensees;…, 1. 49. A local or regional real estate service that compiles available properties for sale submitted by real estate brokers and agents. Intent o…, Final Exam: Real Estate 13. 78. Purchase money order is a debit to the... Debit to the SELLER (It's a loan in which the seller provides financing to help buyer). 19. the process of comparing the property values derived from different approaches to value, selecting the most suitable approach for the particular property being appraised and coming to a final conclusion of value. 4. Is special price setting allowed for certain categories of people? 26. What is a way of termination a listing agreement? Exclusive Right to Sell Listing definition... A type of listing to list and sell real estate property in which the seller employs one broker but that broker earns a commission "no matter who sells the property including the owner". Broker Smith wrote a contract with a buyer for the sale of the property. This course serves as the requisite 15-hour course for Salespersons licensed in a state whose pre-licensing requirements is less than New Jersey's 75-hour required in-classroom education; and who wish to obtain a New Jersey Salesperson’s license. 27. What rules require fair housing laws to be in a listing contract? Real Property Offer Career In The Real Estate Industry The fist one is to be responsible for rent. 90. 51. new york real estate Classes. (OLD PERSON COMMUNITY SCENERIO). What is a shares appreciation mortgage? Quizlet is a lightning fast way to learn vocabulary. What is a characteristic of a VA Mortgage? What is the transfer tax charged by the state of PA? Real Estate Practice Tests. Term. An agreement between the owner and broker. The main factor a property manager should use to evaluate a prospective tenant is. Selling agent represents who in a single agency listing agreement? the unlawful act of keeping a buyer away from certain communities or guiding them to purchase in certain communities. What is a mortgage that encumbers several parcels of land? All are examples of fiduciary responsibilities under a single agency listing agreement except.. . The tests are developed using concepts found in the general portion of the actual exam and cover areas such as product knowledge, terms, and concepts. Real Estate Law 14: 216 Real Estate Law 13: 215 Real Estate Law 12: 214 Real Estate Law 11: 213 Real Estate Law 10: 212 Real Estate Law 9: 211 Real Estate Law 8: 210 Real Estate Law 7: 209 Quiz Law 2: 208 Chapter 2 Review (5) 207 Chapter 2 Review (4) 206 Chapter 2 Review (3) 205 Chapter 2 Review (2) 204 Chapter 2 Review: 203 Transfer tax is typically paid by for by whom? In general, you should expect your real estate licensing exam to be around 100-150 multiple choice questions; this includes about 60-80 state-specific questions, and about 80-100 questions related to generally universal real estate concepts. What is the PA law that prohibits discrimination in housing? All are examples of real estate except... Insurance to protect owners from fires and other etc. Example: A listing agreement…, A person who has entered into an agency relationship w/ a lice…, C) Sales involving one-to four-family dwellings, except for sp…, Individual licensed to charge the public for real estate servi…, fully qualified broker who remains under another broker's supe…, state agency that approves and registers some out-of-state pro…, Terminates an agency relationship where a broker represented a…, A tool for licensees. The actual exam has 75 questions and you are given 90 minutes to complete it. 70. You will have between 2-4 hours to complete your exam. 30. 32. 95. Handwritten words take precedent over printed words. 93. Broker Smith, with XYZ Real Estate Company, called Broker Carr, and disclosed that he was a Buyer Agent. Take this free New Jersey Real Estate Salesperson Pracice Exam to prepare for the actual exam administered by the New Jersey Real Estate Commission. Police Power, Eminent Domain, Taxation, Escheat, Abandonment (dying with no will and no heirs with the property…, Loan amount divided by sale price or appraised value (whicheve…. The actual exam has 120 questions and you are given 4 hours to complete it. Earnest money deposit is a credit to whom. Learn nj real estate with free interactive flashcards. What is a broker's obligation to a buyer without buyer agency? Pearson VUE offers Broker and Sales practice tests for $19.95. 6. We’ve seen our students get results time and time again so we’re proud to stand behind our content. What is the max profit a married couple can take on capital gain? 89. The following are examples of agricultural property except... 68. Obligations of an owner in a listing agreement if he refused to sell when presented with a full offer... 37. 38. 99. Broker Carr, with ABC Real Estate Company, listed the property with a seller. What is the source of money for an FHA loan? **For Actively Licensed PA & NY SALESPERSONS ONLY. What does the C stand for in the fiduciary dities. Definition. What is not an example of a real estate business violation of the antitrust laws? 41. the business practice of bringing together the parties in a practice. Real Estate 316 terms Carlylandry `What is the Paired Sales It is to determine the cost of 28. 54. Disclosure requirements to a seller under a listing agreement force brokers to disclose info except... a combination real estate transaction where there is both a sale of real property by an owner and then an immediate lease on the same property giving the seller the right to remain in the same property that was just sold. The following are typical property management operation expenses except... 65. 18. Who is considered the lender in a purchase money mortgage? Must sign an affidavit saying that they intend to occupy the property. 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Nearby property that suffers from lack of maintenance and is negatively affecting the sellers property. More than 200,000 real estate professionals got their start with Real Estate Express. to to provide disclosure of closing cost info. ie: lending institutions or insurance companies. Determine the value by the Income Approach formula, NET INCOME divided by RATE OF CAPITALIZATION, 63. 61. 3. 40. Take this free New York Real Estate Salesperson Practice Exam to prepare for the actual exam administered by the New York Division of Licensing Services. the process of determining the present value of a property from it's future income. 88. consolidating two separate lots into one. 86. 52. Who does a selling salesperson represent under buyer agency? Relationship to parties... 2. Let AceableAgent be your real estate school and guide you through the first steps in obtaining your real estate license! Without a doubt, there is much to learn. 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