real estate
SETS
Real Estate License Exam Calculations
Beginner Conversational Spanish | Babbel Guide
Acceleration clause
Adjusted cost base
Agreement of purchase and sale
Amenities
Usually written into a mortgage to allow the lender to acceler…
The value of the real property established for tax purposes. I…
A written agreement between the owner and a purchaser for the…
Generally, those parts of the condominium or apartment buildin…
Acceleration clause
Usually written into a mortgage to allow the lender to acceler…
Adjusted cost base
The value of the real property established for tax purposes. I…
Beginner Conversational German | Babbel Guide
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
SIE Practice Exams | FINRA
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
Who needs a RE license?
Who is exempted for RE license?
Broker Status
Residential Unlicensed Can/ Can Not
"L.L.B.E.A.N.S" ... anyone who....... L- list... L- lease... B- buy, ... E-…
1. FSBO... 2. Cooperation, LCC, Partnership- entity... 3. W2 salarie…
Provisional Broker (BP):... -need additional post education... Full…
Who needs a RE license?
"L.L.B.E.A.N.S" ... anyone who....... L- list... L- lease... B- buy, ... E-…
Who is exempted for RE license?
1. FSBO... 2. Cooperation, LCC, Partnership- entity... 3. W2 salarie…
What does PETE stand for?
What is Escheat?
How is LTV calculated?
What is Eminent domain?
Police Power, Eminent Domain, Taxation, Escheat
Abandonment (dying with no will and no heirs with the property…
Loan amount divided by sale price or appraised value (whicheve…
It is the government taking private property for public good.
What does PETE stand for?
Police Power, Eminent Domain, Taxation, Escheat
What is Escheat?
Abandonment (dying with no will and no heirs with the property…
Instruments of transfer
A special agent
Title insurance companies
Escrow partnership
For a Valid escrow, there must be a binding agreement and cond…
The escrow officer acts for both the buyer and seller as
In Northern California, escrows are typically held by
Which of the following could NOT be an escrow holder?
Instruments of transfer
For a Valid escrow, there must be a binding agreement and cond…
A special agent
The escrow officer acts for both the buyer and seller as
Policies and procedures manual
Employee
Independent contractor
Referral fee
Outlines a brokerage's guidelines for employees and independen…
A worker whose employer controls the details of the worker's p…
A person whose work is not directly controlled by a supervisor…
A fee paid by someone who receives a client or customer for se…
Policies and procedures manual
Outlines a brokerage's guidelines for employees and independen…
Employee
A worker whose employer controls the details of the worker's p…
21E Certificate
203(b)
1031 Exchange
1099
Certifies that property is free from contamination
FHA financing program for anyone purchasing a primary 1-4 fami…
Way to defer capital gains tax; property owner must re-invest…
Independent contractor status according to the IRS tax classif…
21E Certificate
Certifies that property is free from contamination
203(b)
FHA financing program for anyone purchasing a primary 1-4 fami…
Personal Property
Trade Fixtures
Fixtures
Real Property
-generally movable and unattached to land... -may be tangible (ca…
-items of personal property brought to the premises by the ten…
-items that were once movable that are now affixed to real est…
-the land (surface of earth, space above it, below it) and the…
Personal Property
-generally movable and unattached to land... -may be tangible (ca…
Trade Fixtures
-items of personal property brought to the premises by the ten…
Accession
Annexation
Real Property
Real Property - Bundle of Rights
Acquiring title to additions or improvements to real property…
The process of converting personal property into real property
includes both land and real estate includes the bundle of righ…
Right of Possession... Right to control the property (within law)…
Accession
Acquiring title to additions or improvements to real property…
Annexation
The process of converting personal property into real property
Listing agreement
Contract for sale
Deposit receipt
Buyer representation agreement
A contract between a client and agent to sell real property
Legal written agreement between a buyer and seller that states…
Acts as the receipt for earnest money given by the buyer to se…
The legal agreement between a buyer & a broker hired to repres…
Listing agreement
A contract between a client and agent to sell real property
Contract for sale
Legal written agreement between a buyer and seller that states…
Agent
Blockbusting
Broker
Buyer Representation Agreement
the party authorized to conduct business on the principal's be…
the illegal practice of encouraging property owners to sell th…
an intermediary who brings together buyers and sellers, assist…
the legal agreement between a buyer and a broker hired to repr…
Agent
the party authorized to conduct business on the principal's be…
Blockbusting
the illegal practice of encouraging property owners to sell th…
Which of the following is true with res…
According to law, states
The role of local tax districts is to
A special tax district might be created…
There are no federal ad valorem taxes on real... property.
may delegate taxing authority to county and city governments.
impose property taxes for specific municipal services.
create a two-mile extension of county sewer facilities.
Which of the following is true with res…
There are no federal ad valorem taxes on real... property.
According to law, states
may delegate taxing authority to county and city governments.
A fiduciary relationship applies to a r…
Real estate disclosure laws apply
The proper order of the steps taken in…
A selling agent must comply with agency…
his or her principal.
primarily for 1 to 4 residential units.
disclose, elect, confirm
prior to showing property.
A fiduciary relationship applies to a r…
his or her principal.
Real estate disclosure laws apply
primarily for 1 to 4 residential units.
Loan Principal
Mortgage Insurance Premium
Lender's loss on the amount guaranteed
VA-guaranteed loan
The Federal Housing Administration insures payment of
A payment to FHA at closing is the
On default of a VA-guaranteed loan, the VA will pay the
Which of the Following generally does NOT require a down payme…
Loan Principal
The Federal Housing Administration insures payment of
Mortgage Insurance Premium
A payment to FHA at closing is the
all of the following reasons are valid…
by executing a listing agreement with a…
the provisions in a listing agreement t…
last month, broker Wanda took a listing…
B death of the salesperson.... a listing agreement is a personal…
C the agent of the seller.... As an agent, the broker is authori…
B multiple listing clause.... An MLS capital is a marketing orga…
D terminated... A listing agreement may be terminated if either…
all of the following reasons are valid…
B death of the salesperson.... a listing agreement is a personal…
by executing a listing agreement with a…
C the agent of the seller.... As an agent, the broker is authori…
the court action to evict a tenant is k…
a lease whereby the landlord receives a…
a lease whereby the tenant pays the lan…
a lease for a definite time period woul…
unlawful detainer action
gross lease
net lease
estate for years
the court action to evict a tenant is k…
unlawful detainer action
a lease whereby the landlord receives a…
gross lease
the numbering of sections in that Towns…
a Township contains... A 6 mi.²... B 640 acr…
strips of land 6 miles wide that run No…
a meets and bounds legal description... A…
C northeast corner and then runs Westerly
D 36 sections
B ranges
C must commence and finish at the same identifiable point
the numbering of sections in that Towns…
C northeast corner and then runs Westerly
a Township contains... A 6 mi.²... B 640 acr…
D 36 sections
The date given
Market Value.
highest and vest use.
Progression
A real estate appraiser's opinion of property value is usually…
A Property's most probable price on the open market under norm…
The MOST profitable, Physical possible, and legally permissibl…
By which principle will the value of a nonconforming building…
The date given
A real estate appraiser's opinion of property value is usually…
Market Value.
A Property's most probable price on the open market under norm…
2 days
72 hours
5 days
5 days
to notify LREC of purchase or acquisition of a licensed agency…
return licenses or timeshares registrations to LREC when revok…
sponsoring broker must return license to LREC when licensee is…
appoint new qualifying broker upon death of qualifying broker
2 days
to notify LREC of purchase or acquisition of a licensed agency…
72 hours
return licenses or timeshares registrations to LREC when revok…
Dutch Colonial
Orientation
Its own adjoining bathroom.
A basement.
An architectural style that features a distinctive gambrel roo…
The placement of a house on a site is called its
The MOST luxurious floor plan gibes each bedroom.
Most California houses are built without
Dutch Colonial
An architectural style that features a distinctive gambrel roo…
Orientation
The placement of a house on a site is called its
A
B
D
D
1. K has just purchased his first home ... with a fixed-rate loa…
2. The amount of a loan expressed as a ... percentage of the val…
3. The purpose of the Real Estate ... Settlement Procedures Act…
4. If the quarterly interest at 10-1/2... percent is $3,150, the…
A
1. K has just purchased his first home ... with a fixed-rate loa…
B
2. The amount of a loan expressed as a ... percentage of the val…