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Question 1 of 10
1. Question
Which of the following statements about how will FHA insure and VA guarantee is correct?
I. Loans assume the seller’s assumption fee payment.
II. Loans assumed the selling broker’s guaranteed agreement.
III. Loans assumed under no given circumstances.
IV. Loans assumed are either free or on the qualification of the buyer, depending on the date of the loan.Correct
Older FHA and VA loans are readily eligible; newer ones require the next borrower to show financial credentials.
Incorrect
Older FHA and VA loans are readily eligible; newer ones require the next borrower to show financial credentials.
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Question 2 of 10
2. Question
Which of the following statements about making a statement “This is the most relevant beautiful view of the state.” is true?
Correct
In comparison to potentially dishonest misrepresentation, there is noticeable distortion, puffing is considered appropriate.
Incorrect
In comparison to potentially dishonest misrepresentation, there is noticeable distortion, puffing is considered appropriate.
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Question 3 of 10
3. Question
What is the most important aspect of the following that an investor will consider?
Correct
The real estate creditor would be very concerned with who the potential borrower is going to be. Performed on previous real estate loans.
Incorrect
The real estate creditor would be very concerned with who the potential borrower is going to be. Performed on previous real estate loans.
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Question 4 of 10
4. Question
The house on Summit Street is on sale. Since in the last year, suicide took place in the bedroom upstairs. In real estate circles, what is the house considered?
Correct
The laws of the State and the judgments of the court differ on if prospective customers have the right to notification of previous shootings, suicides, and other “stigma.”
Incorrect
The laws of the State and the judgments of the court differ on if prospective customers have the right to notification of previous shootings, suicides, and other “stigma.”
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Question 5 of 10
5. Question
All of the following provisions can be included in the newly enacted residential landlord/tenant regulations except for?
Correct
Common law and contractual tenancy rights usually do not describe the occupant as a leasehold. Recordable real land belonging to the property to the tenant.
Incorrect
Common law and contractual tenancy rights usually do not describe the occupant as a leasehold. Recordable real land belonging to the property to the tenant.
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Question 6 of 10
6. Question
In a half-acre parcel, how many square feet can be converted from it?
Correct
A half-acre is converted to 21,870 sq. ft (43,560 sq. ft.) ÷ 2 = 21,780 sq. ft
Incorrect
A half-acre is converted to 21,870 sq. ft (43,560 sq. ft.) ÷ 2 = 21,780 sq. ft
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Question 7 of 10
7. Question
Which of the following choices should the building owner not take into account when choosing a tenant?
Correct
Within the Fair Housing Act, the state government law bans discrimination in the housing market on the basis of gender.
Incorrect
Within the Fair Housing Act, the state government law bans discrimination in the housing market on the basis of gender.
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Question 8 of 10
8. Question
You are a licensed real estate agent and realtor, which means that you are bound by a higher degree of ethics than a non-realtor. You’re about to see a conflict with the national Code of Ethics and the Association of Realtors state law. Which of the following should you do?
Correct
In case of dispute, and in case of conflict, a licensed real estate agent and realtor still need to abide by the laws of the state.
Incorrect
In case of dispute, and in case of conflict, a licensed real estate agent and realtor still need to abide by the laws of the state.
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Question 9 of 10
9. Question
As far as the landlord’s responsibilities under a residential lease arrangement are concerned, the current legal reasoning holds that?
Correct
Existing legal thought in regards to residential duties of the landlord the rental deal holds that the owner is obliged to restore only certain things required by law.
Incorrect
Existing legal thought in regards to residential duties of the landlord the rental deal holds that the owner is obliged to restore only certain things required by law.
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Question 10 of 10
10. Question
Which of the following statements about depreciation is true?
I. It is marked as curable if it can be lived with.
II. It is marked as curable if it can be recovered.
III. It is marked as curable if it can be deducted on an income tax return.
IV. It is marked as curable if it can be fixed economically.Correct
Curable depreciation should be remedied at fair prices.
Incorrect
Curable depreciation should be remedied at fair prices.