REAL ESTATE NATIONAL EXAM QUESTIONS POST TEST Flashcards

REAL ESTATE NATIONAL EXAM QUESTIONS POST TEST Flashcards

Question #31 of 80Question ID: 1425578When does title

transfer?A)When the grantor delivers a valid deed to the granteeB)When both the grantor and the grantee have signed a valid deedC)When the grantee accepts a valid deed from the grantorD)When the grantor executes a valid deed to the grantee C)When the grantee accepts a valid deed from the grantor

Question #9 of 80Question ID: 1425569Which of these

does NOT provide enough information to calculate the area of the parcel?A)The southwest quarter of Section 1B)Lot 1, Block A, Tree Land EstatesC)The north half of Section 35D)One square mile B)Lot 1, Block A, Tree Land Estates

Question #60 of 80Question ID: 1425636A single-family

residence is free and clear of all liens, apart from a mortgage with an outstanding balance of $20,000. There are no general liens against the owner. The fair market value of the property is $50,000. What is the owner's equity in the property?A)$20,000B)$30,000C)$40,000D)$50,000

B)$30,000

Question #15 of 80Question ID: 1425622All of these are

comparable to the market data approach EXCEPTA)the income approach.B)the broker's price opinion.C)the broker opinion of value.D)the comparative market analysis.A)the income approach.

Question #78 of 80Question ID: 1425606A

salesperson/broker-associate procured a listing for a single-family residence on behalf of the brokerage. The brokerage found a buyer, the purchase agreement was signed, and the transaction closed. The seller refused to pay the broker a commission for the transaction. Which of the following is TRUE?A)It is a breach of contract.B)It is a violation of the statute of limitations.C)It is a violation of the Americans with Disabilities Act.D)It is a violation of the federal Fair Housing Act.A)It is a breach of contract.

Question #69 of 80Question ID: 1425588Which of these

pairs is in an agency relationship?A)None of theseB)Listing agent and selling agentC)Listing broker and buyerD)Seller and buyer A)None of these

Question #61 of 80Question ID: 1425615Regarding land

contracts, all of these are correct EXCEPTA)the vendee can possess and occupy the subject property while paying the land contract.B)the vendee will receive a deed when the land contract is paid in full.C)during a land contract, the vendor holds legal title and the vendee holds equitable

title.D)during a land contract, the vendor holds equitable title, and the vendee holds legal title.D)during a land contract, the vendor holds equitable title, and the vendee holds legal title.

Question #6 of 80Question ID: 1425586A city discovered

that one bedroom of a three-bedroom, two-bathroom home had been built without the appropriate permits. The additional bedroom had been built over 20 years ago. Upon

discovery of the unpermitted bedroom, the cityA)exercised its power of eminent domain to tell the owner to demolish the bedroom.B)exercised its police power and told the owner to demolish the bedroom or bring it up to code.C)did nothing because the statute of limitations had run.D)exercised its power of escheat and told the owner the bedroom was grandfathered in.B)exercised its police power and told the owner to demolish the bedroom or bring it up to code.

Question #46 of 80Question ID: 1425600Which of these is

NOT a protected group under federal Fair Housing

Act?A)Convicted drug dealersB)BuddhistsC)AIDS patientsD)Hispanics A)Convicted drug dealers