Questions and Answers
Which of the following is NOT a cost of owning a home?
High number of planned unit developments
When funds are held by a broker, how much should be maintained in the escrow account?
$1
What is required for a contract to be legal and binding?
None of the above are true
What does APR stand for in real estate financing?
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In real estate, which FHA loan is specifically used for home improvement?
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What term is used to describe the situation where one party voluntarily gives up property rights to another party?
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What is the equivalent of .25 of an acre in square feet?
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In real estate, who is typically responsible for overseeing the mortgage?
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Which type of agency relationship involves representing both the buyer and seller in a real estate transaction?
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What is the term used to describe the clause that allows the lender to demand full repayment of a loan immediately upon the sale of the property?
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In real estate, who appoints members to the Board of Registration of Real Estate Brokers and Salespersons?
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What is the term used to describe a mortgage where the monthly payments do not cover the interest due and the unpaid interest is added to the loan balance?
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What is another name for loan fees?
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In which year was the Federal Civil Rights Act passed?
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What is the square footage of a section?
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Which of the following is not covered under fair housing laws?
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What are the civil penalties for a first offense under fair housing laws?
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What is the responsibility of a property manager according to real estate laws?
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