Re 1

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1

Back 1

A a statement that the claimant is married

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a real estate speculator purchased a property for $10,000. he paid $1,000 down and excuted a NON-INTEREST bearing note for $9,000. in favor of the seller. Before the end of the first year and before he had made any principal payments, he sold the property for double what he paid for it. Each $1.00 of his investment is now worth?

Back 2

D $11.00

$20,000 - $9,000 = $11,000. his $1,000 investement is now worth $11,000 or $11 for each $1 invested

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C, $1,920

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C, 12 buisness days

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D, secret profit

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B, a prior recorded homestead

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C, fha

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B, orginal cost

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D, neither a nor b

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B, deed of trust

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D all of the above, quantity, durability, quality

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C, both a and b are correct

causes a more rapid decline in value than physical deterioration

can be caused by changes in style and design

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A. water

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B sell or assign his rights but not his duties without approval of the contract seller

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B appraising

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D metes are boundaries and bounds are measurements

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D 7 years

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C $32,000

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C 27

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D
39 years

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B
6 points

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A
real estate investment trusts

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B
ms. kimball's interest was terminated upon mr. blackman's demise

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C
to determine the absorption of water

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C
mortgagor is to mortgagee

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C
subordination

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B
a fixture

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A
trustor to the trustee

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A
acquisition of real property through gift or inheritance

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B
consideration is less than $10.00 but actually has passed

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C
an existing mortgage

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C
personal if not real

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B
delivery

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B
contract of conveyance

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B
lessor

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D
all of the above are correct

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B
writ of attachment

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D
none of the above

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C
vacancy factor

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D
claim

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C
the broker

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D
surveyor

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C
deal in real property without recording his general power of attorney

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A
finacing statement

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B
value of the property

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C
corporations

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A
a sales tax

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D
an easement must be recorded in order to give constructive notice to a subsequent purchaser of the existence of the easement

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B
redwood

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D
one of the tow joint tennants selling his interest to a third party

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C
$32,200

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D
none of the above

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C
contract of money

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A
functional obsolescence

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B
property held for sale to customers

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B
effective age

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B
NAR Professional Code of Ethics

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A
conformity to proper land use objectives

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B
deed of trust

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B

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D
economic obsolescence

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B
equalized

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A
decrease the allowable depreciation

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C
a reconveyance deed

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A
date of recording

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D
all of the above

hypothecated, alienated, assessed

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A
6" x 12" x 2"

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D
currently due property taxes and hazard insurance on property

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C
life estate

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B
devise

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B
18 inches

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A
acknowledgment

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A
$ 525.00

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B
the sole plate

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C
depreciation method

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B
8%

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A
one year

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C
and wife

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A
the buyer's broker has no liability for acts of the listing broker

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A
it is always free of encumbraces

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B
mortgage portfolios

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B
void

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A
the real estate agent

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D
$ 18,000

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A
accretion

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D
no limitation

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B
commercial banks

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B
can be less than $10.00 but must actually pass

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A
all of the following

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D
all of the above

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D
property taxes

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B
the sudden detachment or tearing away of the land by action of the water

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B
buyer's debit

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B
optionee

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D
the licensee may sell lots prior to issuance of the commissioner's final public

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B
it is a security agreement

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B
209

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D
any of the above

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B
the dominant tenenment is benefited by the easement

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D
defferred maintenance

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A
economic obsolescence

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D
is very often used in the purchase of raw land by a builder

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D
all of the above

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B
a trust deed

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B
consideration is less than $10 but actually has passed to the optionor

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A
in writing

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B
pledge

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A
tenants in common

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B
vary in different regions of the country

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B
Real Estate commissioner

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B
it would be an estate in reversion

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B
the buyer could sue the neighbor for the encroachment bassed on trespass

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A
an independent contractor

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C
check the tax assessor's records

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D
$308,760

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D
all of the above

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B
$121.00

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D
neither a nor b

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B
easements

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D
not be taxed at all

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A
requires a separate appraisal of the land

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D
owner's state income tax return

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C
the present cost using utility

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D
grant deed

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A
an estate at sufferance

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B
up to one year

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D
any of the above

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C
$10,000

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B
charlie has the right to art's share of the assets of the partnership but no right to the management of the business

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B
voidable

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A
net income

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A
all of the following

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A
front foot

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D
all of the above are correct statements

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D
the lender

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D
a debit buyer

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A
prices increase as availability decreases

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C
an easement appurtanant

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A
dominant tenement

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A
three months after a notice of default is recorded

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B
morlin holds a life estate and Ackerman an estate in reversion

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C
purchasing power

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A
economic obsolescence

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B
buyer

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A
selling real property syndicate securities

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D
jointly and severally

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A
the cost of living index rising

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A
grantor

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C
FHA loan

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C
he must put the money in his client trust account