問題一覧
1
The ______ makes it illegal to send unsolicited commercial solicitations via fax without the recipent’s permission or an established relationship.
Junk Fax Prevention Act of 2005
2
Which of the following is an example of a deed restriction?
fence height
3
A late spring snow melt caused a river to swell past it’s bank. The flooding led to many landowners losing portions of their properties. What is the process called that caused this land use?
Avulsion
4
which of the following covers the real estate agency law in Alabama?
RECAD
5
which statement is true about a construction mortgage?
the lender is loaning on land, air, and a promise to build.
6
with which cost approach to value does the appraiser analyze a property’s a ability to earn future income?
income approach
7
Kris made an offer on Lincoln’s townhouse. However, Kris offered no earnest money. If Lincoln accepted her offer, would it be binding?
Yes, because the offer to buy is the consideration.
8
What type of agency exists because of the actions and behavior of the parties?
implied agency
9
The formula for net to seller is sales price x (100%- _____)
commission rate
10
Which party’s closing costs might include mortagage insurance?
buyer
11
the ____ provides the buyer with an approximation of the costs they will likely pay at settlement.
loan estimate
12
when is a transfer tax payable?
when the deed is recorded
13
emblements are considered to be _____
personal property
14
which term is used when someone claims someone else’s property by using it for an extended period of time?
adverse possession
15
what’s the term for an addition to a sales agreement form that can be added before it is signed without changing any of the other terms that have already been agreed upon?
addendum
16
In states without full disclosure requirements, whose responsibility is it to review disclosures, ask questions, and obtain a home inspection?
Buyer
17
Jorge is a dual agent. He owes his clients all of the following fiduciary duties except____.
Undivided loyalty
18
Which agency enforces federal fair housing laws?
FHEO
19
Which of the following best describes what an appraisal is?
it’s an opinion of value
20
What form should be provided to borrowers no fewer than three days prior to closing?
Closing Disclosure
21
the power of the state to claim property when the owner dies without a will and without locatable heirs or creditors is also known as___
escheat
22
what specific criteria are required before adverse possession will apply?
The possession must be open, notorious and hostile, and the trespasser must believe that he or she is entitled to the property.
23
____ is applied whenever real property is sold, and the tax rate varies by state.
Transfer tax
24
Keenan singed a lease agreement that contains a right of first refusal. what does this clause do for Keenan and his landlord?
it gives keenan the option to buy the property he’s leasing before the property is sold to someone else