Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Practice Questions
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
Dave Gates, a widower, died without a will or any instruction. How will his surviving children be given the possession of his real estate properties?
Correct
Each state has a series of laws that determine the distribution of real estate owned by someone who dies without providing written instructions. If no descendants are found, the land is returned to the state.
Incorrect
Each state has a series of laws that determine the distribution of real estate owned by someone who dies without providing written instructions. If no descendants are found, the land is returned to the state.
-
Question 2 of 10
2. Question
In the case of debt and foreclosure, this clause would compel the lender to look at only the property to satisfy the debt. Which of the following is refers to that clause?
Correct
An exculpatory clause shall serve as a non-recourse loan. The seller shall not be directly liable for the note.
Incorrect
An exculpatory clause shall serve as a non-recourse loan. The seller shall not be directly liable for the note.
-
Question 3 of 10
3. Question
Compensation for referring a prospect to a broker is legitimate if paid to a what?
Correct
Referral payments can be paid only to licensed brokers.
Incorrect
Referral payments can be paid only to licensed brokers.
-
Question 4 of 10
4. Question
Which of the following statements is false?
Correct
RESPA, the Real Estate Settlement Procedures Act, requires such information to be reported and recorded for residential loans.
Incorrect
RESPA, the Real Estate Settlement Procedures Act, requires such information to be reported and recorded for residential loans.
-
Question 5 of 10
5. Question
Significant provisions of the Real Estate Settlement Procedures Act include all of the above besides the provisions of what?
Correct
The Real Estate Settlement Procedures Act does not require a particular area for settlement.
Incorrect
The Real Estate Settlement Procedures Act does not require a particular area for settlement.
-
Question 6 of 10
6. Question
Expressing covenants for the protection of the grantee are included in which of the following?
Correct
General warranty deed includes covenants that warrant a new owner. The title is undisturbed and clear.
Incorrect
General warranty deed includes covenants that warrant a new owner. The title is undisturbed and clear.
-
Question 7 of 10
7. Question
The elderly owner of the house dies as a testate. In the will, the protection of the family pet is guaranteed by the transfer of possession to a grandson who will inhabit and enjoy the property for as long as the pet lives. Upon the death of the pet, the property is donated to the specified charity. Which one of the following is true in this situation?
Correct
An interest that remains “as long as” the criterion is fulfilled is a fee simple with a special constraint.
Incorrect
An interest that remains “as long as” the criterion is fulfilled is a fee simple with a special constraint.
-
Question 8 of 10
8. Question
Which of the following statements about a type of appraisal used in a cap rate is true?
Correct
The capitalization rate is an analysis of how many investors are able to pay in a neighborhood in exchange for a given amount of revenue.
Incorrect
The capitalization rate is an analysis of how many investors are able to pay in a neighborhood in exchange for a given amount of revenue.
-
Question 9 of 10
9. Question
Land managers also make management choices on the preference of tenants and budgets for their customers. In these partnerships, which of the following statement about the property manager is true?
Correct
The General Agent shall be empowered to make binding decisions on behalf of the Principal. The acceptance of leases and spending on land are among those practices.
Incorrect
The General Agent shall be empowered to make binding decisions on behalf of the Principal. The acceptance of leases and spending on land are among those practices.
-
Question 10 of 10
10. Question
The Sherman Anti-Trust Act bans real estate brokers are derived from?
Correct
In the past, brokers have faced substantial penalties for conspiring to set commission rates outside their own offices.
Incorrect
In the past, brokers have faced substantial penalties for conspiring to set commission rates outside their own offices.