Except when listing broker does not disclose information. 62. 15. Take this free New Jersey Real Estate Salesperson Pracice Exam to prepare for the actual exam administered by the New Jersey Real Estate Commission. 36. What is a fair housing exemption? 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). What is a characteristic of a VA Mortgage? Earnest money deposit is a credit to whom. The following are examples of agricultural property except... 68. 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 … Entitlement to commission when transaction is not consummated. Usually written into a mortgage to allow the lender to acceler…, The value of the real property established for tax purposes. Determine the value by the Income Approach formula, NET INCOME divided by RATE OF CAPITALIZATION, 63. At the first discussion of needs and motivation. 33. The actual exam has 120 questions and you are given 4 hours to complete it. Broker Carr, with ABC Real Estate Company, listed the property with a seller. 88. 80. What is a broker's obligation to a buyer without buyer agency? It protects the lender if their is default. What is the first step in the appraisal process? View Test Prep - Real Estate Flashcards | Quizlet from REAL ESTAT 101 at University of Southern Mississippi. 27. BOMI Real Estate Investment & Finance Flashcard Maker: Michael Hodge. 89. Choose from 500 different sets of nj real estate flashcards on Quizlet. 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. 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. Broker Smith, with XYZ Real Estate Company, called Broker Carr, and disclosed that he was a Buyer Agent. 11. 61. What rules require fair housing laws to be in a listing contract? 6. Real estate is said to be a fairly simple business, but not an easy one. Sample Decks: Unit 1: The Real Estate Business, Unit 2: License Law and Qualifications for Licensure, Unit 3: Real Estate License Law and Commission Rules Show Class BOMI Real Estate Investment & Finance. The opportunities for success are limitless. 75. Is special price setting allowed for certain categories of people? What is a type of depreciation that is not curable? Term. What is a shares appreciation mortgage? https://quizlet.com/121366480/real-estate-practice-exam-questions-flash-cards 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. Transfer tax is typically paid by for by whom? What is the PA law that prohibits discrimination in housing? can they make monthly rent payments on time. The rights to use the space above the earth may be sold or leased independently, provided the rights have not been limited by law. Real Estate 316 terms Carlylandry `What is the Paired Sales It is to determine the cost of Learn nj real estate with free interactive flashcards. What is an example of external depreciation? 85. the process of determining the present value of a property from it's future income. ie: lending institutions or insurance companies. Real Estate Practice Tests. Proper listing price of the property... 69. 8. 2. More than 200,000 real estate professionals got their start with Real Estate Express. The lender receives a share of capital gain at time of sale. 19. Obligations of an owner in a listing agreement if he refused to sell when presented with a full offer... 37. 57. Who are the parties in a listing agreement? the unlawful act of keeping a buyer away from certain communities or guiding them to purchase in certain communities. (Scenario Question), 1 broker with listing agreement and buying agreement. Pass the real estate exam with confidence! Browse 500 new york real estate classes 81. consolidating two separate lots into one. **For Actively Licensed PA & NY SALESPERSONS ONLY. 34. Pearson VUE offers Broker and Sales practice tests for $19.95. 26. What is true about the contract rules regarding printed form sales agreement? 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. Handwritten words take precedent over printed words. Cram.com makes it easy to … Free study quizlet sets for the Humber Real Estate Salesperson Program, helping you become a real estate agent in Ontario. 78. Learn real estate with free interactive flashcards. All are federal income tax deductions for a homeowner except... 74. 95. 99. What is the transfer tax charged by the state of PA? The summary is usually prepared so that it may be recorded thereby creating a (judgment) lien on real estate owned by the judgment debtor. 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 When the buyer accepts the offer and the seller is notified. In the rapidly rising real-estate market of the mid-1980's, those practices posed no major problem. Of single agency listing a successful real estate agent usually works for a deed except... 74 the steps. Tax purposes settlement is... 82 from certain communities or guiding them to purchase certain... 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