The distance that a zoning ordinance requires between a property's boundaries and its improvements is known as a:

An acre of land has:

The type of legal description used primarily west of the Mississippi would be:

The legal description which uses measurements, compass points and a well-marked starting point called the point of beginning is:

Agent X is listing a property which has a beautiful antique chandelier. The seller states that it is anantebellum light fixture, and they wish to remove it and take it with them when they sell. What is not the right way to perform this?

All the following could be valid conveyances of real estate EXCEPT:

Which right in private property does the government not have the authority to take the property from the private citizen?

A non-possessory interest in property when there is a dominant and a servient property is called a.

Buyer is interested in purchasing a condo/townhouse. As buyer is reviewing the paperwork for the purchase, the buyer notices the Association does not allow pets of any kind. The buyer cancels their purchase. This private rule of "no pets" is called a:

All the following are true of the holder of a fee simple absolute estate EXCEPT:

The type of deed a seller delivers to a purchaser where the seller makes no promise they own the property, there are no unspecified encumbrances, and they will not promise the buyer quiet enjoyment is called a:

Recording a deed showing a new titleholder

Title insurance is paid:

A sale has happened at 123 Oak St. The seller's evidence of title shows every conveyance, mortgage lien, satisfaction, easement since the property has been privately held. The title evidence is in the form of a:

A lease agreement where the tenant pays electricity and base rent, and the landiord pays all other expenses is called a:

The type of estate which terminates at the death of a person and returns fee simple to the remainderman is called a:

The number 1 priority lien on all property is the

An appraiser's compensation is based on:

In appraising a 12-year-old single-family home in a residential neighborhood, which approach would be most applicable?

When a large quantity of an item is available for sale, the general opinion is that the price of the item will decrease. However, if the item is relatively scarce and desired, the price will increase. This is an example of which economic principle?

Depreciation affects all the following except

You are doing a comparative market analysis on a property. You discover that it is a two-bedroom, one bath house with a fireplace. The comparable properties that have recently sold are a two bedroom, two baths with a fireplace. It sold for $180,000. Another property sold and it was a two-bedroom, one bath with no fireplace and it sold for $172,000. Assuming a bathroom is worth $5,000 and a fireplace is worth $3,000, what should the value of the property be?

A five-bedroom home with one bath is an example of:

As the appraiser first investigates a property, the first value the appraiser should consider is:

The essential elements of value are:

What would cause an increase in rental rates?

What should an appraiser do when appraising the subject property?

A broker price opinion cannot be used for:

seller has listed their property with an agent. The listing price is $199,900 and the seller is willing to leave the refrigerator and stove. Due to having a bad roof, the agent advised the seller to not accept FHA financing due to their strict appraisal inspection process. The seller agreed and stated they would accept cash, conventional or contract for deed. A buyer made an offer. The offer was for list price of $199,900, conventional and included the refrigerator and stove. The closing date was scheduled six weeks in the future. When did the listing earn their commission?

A real estate agent's fiduciary obligation includes which of the following?

Dual agents must keep all the following confidential EXCEPT:

An agent is asked by a buyer if the basement is dry. The agent answers 'no'. Subsequently, the neighbor tells the new buyer that the agent was told (by the neighbor) that the basement floods.

Salesperson X has a listing. Buyer meets with Salesperson Y. Both salesperson X and Y work for the same broker. Salesperson Y showed the buyer the property. Buyer puts in an offer on the listing. According to the scenario when does dual agency occur?

If all the brokers in town agreed to charge the same commission rate, it would be a violation of the:

A listing in which the principal agrees to contract with only one broker but reserves the right to sell the property himself or herself without paying a commission is a/an:

A buyer has asked an agent to represent them in the purchase of a property. While getting approved for a loan, the lender required extra documents from the buyer for income verification. When the buyer and agent were discussing the process, the buyer told the agent that he had been credentials at the job. What should the agent do?

To protect from damages arising from people falling in the office, brokers will purchase

Which of the following is essential to the validity of a purchase agreement?

A married person owns a property and is occupied by the married person and an adult child, who must sign the deed to make a valid conveyance?

All the following could be valid conveyances of real estate EXCEPT:

A licensee is at an open house. A buyer comes in and really likes the house. The buyer had already made an offer on another house and that offer got accepted. The licensee told the buyer, if he is willing to lose your $1000 earnest money and leave that contract, I will help you with the process on this house. What did the licensee do?

A property manager is responsible for two types of maintenance on a property they are managing:

Agent X & Y work for the same brokerage. Agent X has taken a listing and Agent Y has a buyer Who is interested in the property and drafts an offer on the listing. What is the relationship of the Agents?

Buyer broker agreement must contain all the following except:

A licensee is at an open house. A buyer comes in and really likes the house. The buyer explains they are working with another agent who is present at the open house with the buyers. The open house agent tells the buyer the open house agent can get the buyer a "better deal" if they cancels their contract with the other agent." What did the licensee do?

Which one of the following are you allowed to refuse service to?

A seller wishes to not be responsible for any claims on the property after closing. After searching the Internet, they discovered they should provide a deed which has no promises about ownership, rights, or interests. Sometimes called the "promise solver" Deed, the seller asks the listing agent to assist them in accomplishing this goal. What should the agent do?

A sandwich shop is renting a space at the Mall. When moving in, they installed a walk-in refrigerator attaching to the food court's walls and floors. The tenant's lease is now expiring. Which of the following statements is

Which of the following is the most egregious violation of law?

A property manager is responsible for ongoing maintenance of the property. The types of maintenance provided are corrective, preventive, and:

A purchase agreement signed by a buyer under duress is

In a contract to purchase real property, what is the name of the clause that states that the buyer will NOT be responsible to complete the purchase if the buyer cannot obtain enough financing

A buyer has asked an agent to represent them in the purchase of a property. The buyer and seller entered a contract to buy/sell a house. The buyer subsequently saw another property they liked better and asked to write an offer on that other listing. The agent explained the buyer has an already accepted offer on the first and the buyer responds "I simply wont show up to the closing. "What should the agent do?

A buyer writes an offer that gets accepted by the seller. The buyer changes their mind and decides to not buy the house. What consequences might the buyer experience?

If a broker and a seller have a fiduciary relationship, the broker could:

When a property manater in roberty management contract with an owner, the Prote

A real estate agent's fiduciary obligation includes which of the following?

All the following will terminate a listing without liability EXCEPT:

A couple is closing on the sale of their house. The husband is out of town. How can the closing happen?

The written sales of contract between buyer and seller provides the buyer will purchase a ranch for $300,000. This is an example of

A type of mortgage in which more than one property is used as security and that contains a partia! release clause is a:

The figure used by the lender in determining the maximum loan it will make is the:

A mortgage featuring a changing rate, based up an economic index and a margin

A builder has 17 new construction houses available for sale. The builder has a blanket mortgage on all the properties. When a buyer purchases one of the new buildings, what happens to the loan for the builder?

A salesperson can give up to for client referrals?

A seller of property is selling a dwelling with a fully-functioning 100' deep well and three sand point wells. The three sand point wells are no longer being used because they have dried up. What must the seller of this property do?

Which of the following would be considered an environmental issue regarding the sale of property?

A disclosure of whether the seller knows of lead-based paint must be provided to the potential purchaser in a property that was built before:

CERCLA (Comprehensive Environmental Compensation and Liability Act) states who is responsible for paying for and cleaning up hazardous waste on a property?

The form a seller can provide to a purchaser which can demonstrate the subsurface sewage treatment system and/or the below ground oil tank are in substantially working condition is called:

The government has purchased a large section of real estate with plans to build a federal office building. Before the work begins, what must happen?

An agent is showing a 1922 house, and, in the basement, there are 9"x9" square tiles for flooring. There is a traffic pattern where the tiles have become worn and discolored. What should the agent do?

When dealing with a property that may have lead-based paint, agents must offer potential purchasers a period of time where they can have a lead-paint inspection done. This is a period of:

A borrower wishes to lower the interest rate on their purchase loan. The lender is charging 2 discount points on a $200,000 sale with a 90% loan-to-value. How much are the discount points going to cost the buyer?

A building valued at $195,000 has a gross income of $27,000 and expenses of 45 percent. What is its rate cap?

A tract of land measuring 330 feet wide by 1,320 feet deep contains:

A property has a value of $130,000 and a cap rate of seven percent. What would its value be if the cap rate were ten percent?

A property sells for 15% below its $170,000 listing price. The 6% commission is split 40% to the salesperson and 60% retained by the broker. How much did the salesperson receive?

A buyer who made an earnest money payment of $2,000 and is assuming a mortgage of $42,310 for a house selling for $85,000 will need how much cash at closing?

A purchase contract is agreed upon and the lender orders an appraisal. The purchase price is $200,000 with a Loan-to-Value of 90%. The appraisal reports identify the listing is worth $180,000. What will the lender lend on this property?