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Principles of Real Estate 2 – Practice Test 2

May 6, 2017 Leave a Comment Written by MrBeeToe

Principles of Real Estate 2 – Practice Test 2

Welcome to your Principles of Real Estate 2 - Practice Test 2

A property manager's responsibility is to:
John owns 787,253 square feet of land. How many acres does he own?
For a valid and properly prepared deed to transfer or convey title it:
The _______ is an instrument or conveyance used to create a leasehold estate.
The Loan Estimate form replaces which of the following forms?
RESPA regulates closing on:
The assessed value of a property is $90,000. The tax rate is $3.42 per hundred. What are the annual taxes?
The listing broker's half of a commission was $4,392. The commission rate was 5%. What was the sale price of the property?
The quarterly interest payment on a loan is $4,000. The interest rate is 5%. What is the loan amount?
A buyer who wants to ensure that he is receiving good title should request:
Involuntary alienation can be the result of all of the following EXCEPT:
A house sold for $100,000. The loan amount was $80,000. The borrower paid 3 points. How much did the borrower pay in points?
When a grantor transfers title, but retains some rights this is called:
The property manager's employment contract is the:
A handwritten will is called:
The Landlord and Tenant Act:
The property manager is most often an employee or:
Deeds require:
A property is listed for $399,500. It sells for $395,600. The listing broker negotiated a 5% commission and agreed to keep 2% and give the selling broker 3%. How much did the selling broker receive?
_______ is the process of dividing expenses such as property taxes and Property Owner Association fees between the buyer and seller at closing:
A statement of the condition of title at a moment in time is called:
A lease for a period of more than one year must be in writing to comply with the _______.
The property tax bill for 406 Sterling Street is $18,250.40 for the year. The property is sold and closing is set for December 12th. Calculate the tax proration and debits and credits.
A yearly tax bill is $8,788 and has not been paid. The property has sold and closing is May 30th. How much will be owed at closing for taxes? (Use a 365 day year, round to the nearest dollar and seller pays for closing day.)
If an individual dies without a will:
Which of the following is one of the four leasehold estates?

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