Podcast
Questions and Answers
A contract to do something illegal is:
A contract to do something illegal is:
- executory
- voidable
- vaild
- void (correct)
A built-in microwave oven is an example of:
A built-in microwave oven is an example of:
- a fixture (correct)
- a trade fixture
- an attachment
- personal property
A retail store tenant pays $3,000 a month rent plus a portion of gross sales. This rental arrangement is most likely
A retail store tenant pays $3,000 a month rent plus a portion of gross sales. This rental arrangement is most likely
- a term lease
- a percentage lease (correct)
- an index lease
- a net lease
An appraisal is
An appraisal is
The total monthly payment on an amortized loan is composed of
The total monthly payment on an amortized loan is composed of
Which of the following is not a part of the secondary mortgage market?
Which of the following is not a part of the secondary mortgage market?
Alice refuses to move out of her apartment after her lease expires. The landlord refuses to accept the rent she offers to pay. This is
Alice refuses to move out of her apartment after her lease expires. The landlord refuses to accept the rent she offers to pay. This is
The period of time after a tax sale during which a property may be redeemed is called
The period of time after a tax sale during which a property may be redeemed is called
A judgment lien is
A judgment lien is
Forcing a buyer to go through with a property purchase that he does not want to do is
Forcing a buyer to go through with a property purchase that he does not want to do is
You want to donate a piece of land to a religious organization. The title will pass when they complete building a church on the property. The estate is
You want to donate a piece of land to a religious organization. The title will pass when they complete building a church on the property. The estate is
A homeowner refuses to sell his home to a family because of its race. The homeowner claims that because of this is an owner-occupied hone, he is exempt from all fair housing laws. The owner has violated
A homeowner refuses to sell his home to a family because of its race. The homeowner claims that because of this is an owner-occupied hone, he is exempt from all fair housing laws. The owner has violated
A buyer who buys the least expensive house available to satisfy his needs is behaving according to what economic principle?
A buyer who buys the least expensive house available to satisfy his needs is behaving according to what economic principle?
Which of the following is not a form of involuntary alienation?
Which of the following is not a form of involuntary alienation?
A contract formed by the actions of two parties is:
A contract formed by the actions of two parties is:
The discount rate is
The discount rate is
You get sick every day at work but the symptoms disappear on your drive home. You may have
You get sick every day at work but the symptoms disappear on your drive home. You may have
An amount of money that the government allows you to deduct from taxes owed on a building's income is called
An amount of money that the government allows you to deduct from taxes owed on a building's income is called
The estate of a person who dies without a will is usually divided according state laws of
The estate of a person who dies without a will is usually divided according state laws of
The fact that a lease of longer than a year must be in writing is a typical provision of
The fact that a lease of longer than a year must be in writing is a typical provision of
The court that hands wills is called
The court that hands wills is called
Which piece of federal legislation dealt with banks making loans within their community?
Which piece of federal legislation dealt with banks making loans within their community?
The act of recording a deed provides or accomplishes
The act of recording a deed provides or accomplishes
You have just a lost a large portion of the hill you live on due to a sudden mudslide. You are the victim of
You have just a lost a large portion of the hill you live on due to a sudden mudslide. You are the victim of
The VA requires what in order to secure a loan?
The VA requires what in order to secure a loan?
Rents are typically set
Rents are typically set
A shared driveway is usually a case of
A shared driveway is usually a case of
The possibility of claiming innocence of responsibility for prior hazardous waste dumping on land you bought was made available by
The possibility of claiming innocence of responsibility for prior hazardous waste dumping on land you bought was made available by
When the town takes property for unpaid taxes the process is called
When the town takes property for unpaid taxes the process is called
An interest-only loan is called
An interest-only loan is called
Complaints under the Civil Rights Act of 1866 are handled by
Complaints under the Civil Rights Act of 1866 are handled by
The landlord's interest in a lease is called
The landlord's interest in a lease is called
What is the area in acres of a piece of property that is one mile square?
What is the area in acres of a piece of property that is one mile square?
In a fixed-rate amortized loan, which one of the following does not vary from month to month?
In a fixed-rate amortized loan, which one of the following does not vary from month to month?
Which signature is required for a deed to be valid?
Which signature is required for a deed to be valid?
In what form of ownership does the owner get shares in a corporation rather than a deed?
In what form of ownership does the owner get shares in a corporation rather than a deed?
Which of the following is an element unique to a real estate sales contract?
Which of the following is an element unique to a real estate sales contract?
The term most closely associated with real estate taxes is
The term most closely associated with real estate taxes is
A judgement lien is
A judgement lien is
Another term for depreciation is
Another term for depreciation is
Ann buys property that is landlocked. Betty agrees to let Ann drive across her property to get to the main road. Ann has
Ann buys property that is landlocked. Betty agrees to let Ann drive across her property to get to the main road. Ann has
Which approach to value would be most suitable to appraise a shopping center?
Which approach to value would be most suitable to appraise a shopping center?
The case that dealt with real estate broker price fixing was
The case that dealt with real estate broker price fixing was
Property managers are usually considered
Property managers are usually considered
A single word to describe a loan where nothing is left to pay at the end of the term is
A single word to describe a loan where nothing is left to pay at the end of the term is
Joint tenancy requires unity of interest, unity of possession, unity of time, and unity of
Joint tenancy requires unity of interest, unity of possession, unity of time, and unity of
Public improvements in a specific neighborhood often are paid for by
Public improvements in a specific neighborhood often are paid for by
The act of using borrowed money to extend the profitability of your investment is called
The act of using borrowed money to extend the profitability of your investment is called
What type of lien is a mortgage?
What type of lien is a mortgage?
Reversion of title is a feature of what type of interest?
Reversion of title is a feature of what type of interest?
The size of a residential septic system is usually based on
The size of a residential septic system is usually based on
How many acres does a section contain?
How many acres does a section contain?
A seller's agent earns her commission when
A seller's agent earns her commission when
A corporation usually owns property in
A corporation usually owns property in
The gradual wearing away of land by the forces of nature is called
The gradual wearing away of land by the forces of nature is called
A month to month tenancy is an example of
A month to month tenancy is an example of
Reproduction cost is
Reproduction cost is
In the government survey system
In the government survey system
Condominium owners generally own their land as
Condominium owners generally own their land as
Land, improvements, and all the rights of ownership is a good definition of
Land, improvements, and all the rights of ownership is a good definition of
Which of these does not insure mortgage loans?
Which of these does not insure mortgage loans?
Property owner A has a driveway easement across property owner B's property. Property owner A eventually buys property owner B's property. The easement
Property owner A has a driveway easement across property owner B's property. Property owner A eventually buys property owner B's property. The easement
A real estate broker hired to represent someone who wants to sell his house is
A real estate broker hired to represent someone who wants to sell his house is
If a density zoning ordinance is applied to a subdivision all the lots must
If a density zoning ordinance is applied to a subdivision all the lots must
There are no exceptions to the
There are no exceptions to the
The allocation of certain expenses between a buyer and a seller is called
The allocation of certain expenses between a buyer and a seller is called
A mortgage is most accurately described as what type of lien?
A mortgage is most accurately described as what type of lien?
The interest of a tenant in a rented building is most properly known as
The interest of a tenant in a rented building is most properly known as
By which of the following can you not lose title to your property involuntarily?
By which of the following can you not lose title to your property involuntarily?
Title to property is actually conveyed by
Title to property is actually conveyed by
What type of notice is provided by the recording of a deed in the public records?
What type of notice is provided by the recording of a deed in the public records?
A number that relates net operating income to value is
A number that relates net operating income to value is
The total number of years a building is considered to contribute to the value of the property is a good definition of
The total number of years a building is considered to contribute to the value of the property is a good definition of
A surplus of condominiums in a town may be the result of the principle of
A surplus of condominiums in a town may be the result of the principle of
A net lease require the tenant to pay
A net lease require the tenant to pay
A foreclosure for unpaid taxes against the property is called
A foreclosure for unpaid taxes against the property is called
A landlord who is selling a building allows a tenant to stay until the building is sold. This is
A landlord who is selling a building allows a tenant to stay until the building is sold. This is
Constructive notice of a real estate transaction is generally provided by
Constructive notice of a real estate transaction is generally provided by
A protest against high taxes should be brought to
A protest against high taxes should be brought to
Another term for cost recovery is
Another term for cost recovery is
“Sorry, we don’t make any loans on houses in that neighborhood” is an example of
“Sorry, we don’t make any loans on houses in that neighborhood” is an example of
A deed commonly used in family property transfers that gives no warrantees is
A deed commonly used in family property transfers that gives no warrantees is
A restriction in the deed says you cannot run a business out of your home. The zoning ordinance says you can. Which of the following is true?
A restriction in the deed says you cannot run a business out of your home. The zoning ordinance says you can. Which of the following is true?
A detached garage on a house lot is an example of
A detached garage on a house lot is an example of
Advising people on which neighborhoods they would be happy in may be construed as
Advising people on which neighborhoods they would be happy in may be construed as
What kind of title do buyers have when they sign an installment sales contract?
What kind of title do buyers have when they sign an installment sales contract?
A feature of the growing equity mortgage is
A feature of the growing equity mortgage is
The test done to locate where to place a septic system is called
The test done to locate where to place a septic system is called
A person in a cooperative apartment gets what kind of lease?
A person in a cooperative apartment gets what kind of lease?
A feature unique to a ground lease is that
A feature unique to a ground lease is that
Fiduciary duties do not include
Fiduciary duties do not include
What appraisal approach would an appraiser most likely use to appraise a sports arena?
What appraisal approach would an appraiser most likely use to appraise a sports arena?
A group of investors wanting to invest in real estate could legally form
A group of investors wanting to invest in real estate could legally form
The tax deferred in a real estate exchange is tax on
The tax deferred in a real estate exchange is tax on
Unity of possession means that
Unity of possession means that
The deed that provides warranties only for the duration of the grantor’s ownership is called a
The deed that provides warranties only for the duration of the grantor’s ownership is called a
Maximizing income and maintaining property value are the general goals of what aspect of the real estate business?
Maximizing income and maintaining property value are the general goals of what aspect of the real estate business?
Liability is limited to the investment in what type of business ownership of real estate?
Liability is limited to the investment in what type of business ownership of real estate?
An option is an example of what kind of contract?
An option is an example of what kind of contract?
The gross rent multiplier is a factor that relates
The gross rent multiplier is a factor that relates
Flashcards
Percentage Lease
Percentage Lease
In a percentage lease, the tenant pays a base rent plus a portion of their gross sales. This type of lease is commonly used in retail businesses, where the landlord benefits from the tenant's success.
Term Lease
Term Lease
A lease agreement with a definite starting and ending date. It does not involve a percentage of gross sales.
Net Lease
Net Lease
The tenant pays building expenses on top of a base rent. The extent of expenses covered is negotiable and does not involve a percentage of gross sales.
Index Lease
Index Lease
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