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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

RESPA regulates closing on:
John owns 787,253 square feet of land. How many acres does he own?
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.)
A statement of the condition of title at a moment in time is called:
A handwritten will is called:
Which of the following is one of the four leasehold estates?
A lease for a period of more than one year must be in writing to comply with the _______.
The Landlord and Tenant Act:
The assessed value of a property is $90,000. The tax rate is $3.42 per hundred. What are the annual taxes?
The property manager's employment contract is the:
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?
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?
For a valid and properly prepared deed to transfer or convey title it:
A property manager's responsibility is to:
Involuntary alienation can be the result of all of the following EXCEPT:
_______ is the process of dividing expenses such as property taxes and Property Owner Association fees between the buyer and seller at closing:
The _______ is an instrument or conveyance used to create a leasehold estate.
The Loan Estimate form replaces which of the following forms?
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.
The property manager is most often an employee or:
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?
Deeds require:
A buyer who wants to ensure that he is receiving good title should request:
If an individual dies without a will:
When a grantor transfers title, but retains some rights this is called:

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