The bundle of rights refers to
The main difference between the terms real property and real estate is
Readily movable property is commonly known as
When John sells his furniture along with his property, what document will he use to transfer ownership of the furniture?
An increase of land along a stream, lake or sea by the action of water which deposits soil upon the shoreline
You can generally find reference to a lot and block number on a ______
The metes and bounds description is generally
The type of water rights that belong to an owner of land bordering a flowing body of water are?
An accurate description of the land on a deed must include
An estate in land that involves a temporary right to occupy the property but does not include ownership of the land is called?
The difference between valuation and evaluation is
An easement in gross
What is the annual rent per square foot for an office that is renting for $5,500 per month and is 80 ft by 50 ft?
A contract that has no force or effect is said to be
The requirement that all parties to a contract understand the conditions and stipulations of the agreement is
Which of the following must sign a deed of conveyance?
To receive a commission, the broker must show
Which of the following is NOT corporeal property?
The number of square feet in one acre is
Agent Kevin tells a customer that his client's home is 5,000 square feet when, in fact, he has no idea about the measurements of the property. Kevin has
Title to a shared area in a condominium complex is held as
A mortgage is a type of
Which of the following is NOT an economic characteristic of land?
Which Appraisal principle dictates that no prudent person would pay more than the cost of acquiring an equally desirable substitute property?
Which of the following choices is NOT an ideal consideration for the cost approach?
Generally, with a real estate investment, the greater the risk
Income received on a property after deducted expenses is called
When Sarah bought her house in a new subdivision, she believed that she could arrange items the way she wanted. After moving her lamppost five feet to the right, she received a letter saying she was not allowed to do this and must move it back. What organization has the legal right to have Sarah move her lamppost back?
A local government decides to temporarily halt the development and construction for new housing. This action is called?
The preparation of a report documenting the effect that a building and development project may have on the environment is called a(n)
The tax rate for a taxing district is set by
Jackie tells her broker that she wants to net $184,000 from the sale of her property after the 8% broker's commission is deducted from the sale proceeds. What price must the property bring?
When a party purchases an option, the option purchased is which of the following?
The mortgagor is an individual who
Which of the following mortgage loan programs provides the greatest leverage for the borrower?
Loans made to borrowers with average or below average credit ratings are known as what type of loans?
An agency relationship can be created
When a party uses a transaction broker, one disadvantage would be
Who’s responsible for a last minute inspection performed on a property prior to the closing to ensure the condition of the property is the same as it was when the sales contract was accepted?
For a deed to be recorded, it must have a(n)
The unbroken transfer of successive titles to real property is called a(n)
A short sale is the sale of real property
Who has a reversionary interest in a leased property?
The property management agreement creates a
Expenses and property income for weekly operations are accounted for in which type of budget?
Paul rents out six apartments in his building for $750 per month and seven apartments for $1,050 per month. Figuring in a 5% vacancy rate, what is the annual projected rent roll?
A separate trust account that brokers maintain during a real estate transaction is known as a(n)?
Aliyah is a real estate broker whose sales agents are independent contractors. The independent contract agreement with the sales agent should include
Commission fees for a real estate broker should be decided by
This specific organization bypasses corporate income tax on trust income.
The Americans with Disabilities Act is mainly applied toward what type of properties?
A broker's commission is 7% of the first $100,000 of the sales price and 6% over $100,000. What is the total price of the property if the broker receives a total commission of $10,000?
A lot measuring 128.5 feet x 236.2 feet would be what percentage of an acre?
This type of insurance is primarily used to protect an owner against financial losses resulting from an employee's criminal actions. An employee taking rental income from the owner.
Which of the following activities does not generally require a real estate license?
Roof replacement is considered what type of expense in a building's budget?
Which of the following is true for an independent contractor working for a broker?
The main duty of a property manager is to
Fiduciary duties do not include
Complaints and issues that fall under the Civil Rights Act of 1866 are managed by
ABC bank refuses to grant Ms Johnson a loan because she lives in an area where property values are heavily declining. This practice is commonly known as
A built-in microwave oven is an example of
Unity of possession means that
Elevations are measured from
The law that dictates real estate contracts must be in writing to be enforceable is
Which of the following is an element unique to a real estate sales contract?
What type of lease is issued to an individual in a cooperative apartment?
A lease that has a definite termination date is
What is the area (in acres) of a square piece of property that measures 425 feet by 425 feet?
Another term for depreciation is
How much interest do you owe for the first year of an amortized mortgage loan of $350,000 at a 6 percent interest rate?
A real estate exchange will defer paying tax on
If the cost recovery period on a property is 25 years, at what percentage does the property depreciate each year?
This field is for validation purposes and should be left unchanged.