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150 Cards in this Set

  • Front
  • Back
1
A a statement that the claimant is married
2
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?
D $11.00

$20,000 - $9,000 = $11,000. his $1,000 investement is now worth $11,000 or $11 for each $1 invested
3
C, $1,920
4
C, 12 buisness days
5
D, secret profit
6
B, a prior recorded homestead
7
C, fha
8
B, orginal cost
9
D, neither a nor b
10
B, deed of trust
11
D all of the above, quantity, durability, quality
12
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
13
A. water
14
B sell or assign his rights but not his duties without approval of the contract seller
15
B appraising
16
D metes are boundaries and bounds are measurements
17
D 7 years
18
C $32,000
19
C 27
20
D
39 years
21
B
6 points
22
A
real estate investment trusts
23
B
ms. kimball's interest was terminated upon mr. blackman's demise
24
C
to determine the absorption of water
25
C
mortgagor is to mortgagee
26
C
subordination
27
B
a fixture
28
A
trustor to the trustee
29
A
acquisition of real property through gift or inheritance
30
B
consideration is less than $10.00 but actually has passed
31
C
an existing mortgage
32
C
personal if not real
33
B
delivery
34
B
contract of conveyance
35
B
lessor
36
D
all of the above are correct
37
B
writ of attachment
38
D
none of the above
39
C
vacancy factor
40
D
claim
41
C
the broker
42
D
surveyor
43
C
deal in real property without recording his general power of attorney
44
A
finacing statement
45
B
value of the property
46
C
corporations
47
A
a sales tax
48
D
an easement must be recorded in order to give constructive notice to a subsequent purchaser of the existence of the easement
49
B
redwood
50
D
one of the tow joint tennants selling his interest to a third party
51
C
$32,200
52
D
none of the above
53
C
contract of money
54
A
functional obsolescence
55
B
property held for sale to customers
56
B
effective age
57
B
NAR Professional Code of Ethics
58
A
conformity to proper land use objectives
59
B
deed of trust
60
B
61
D
economic obsolescence
62
B
equalized
63
A
decrease the allowable depreciation
64
C
a reconveyance deed
65
A
date of recording
66
D
all of the above

hypothecated, alienated, assessed
67
A
6" x 12" x 2"
68
D
currently due property taxes and hazard insurance on property
69
C
life estate
70
B
devise
71
B
18 inches
72
A
acknowledgment
73
A
$ 525.00
74
B
the sole plate
75
C
depreciation method
76
B
8%
77
A
one year
78
C
and wife
79
A
the buyer's broker has no liability for acts of the listing broker
80
A
it is always free of encumbraces
81
B
mortgage portfolios
82
B
void
83
A
the real estate agent
84
D
$ 18,000
85
A
accretion
86
D
no limitation
87
B
commercial banks
88
B
can be less than $10.00 but must actually pass
89
A
all of the following
90
D
all of the above
91
D
property taxes
92
B
the sudden detachment or tearing away of the land by action of the water
93
B
buyer's debit
94
B
optionee
95
D
the licensee may sell lots prior to issuance of the commissioner's final public
96
B
it is a security agreement
97
B
209
98
D
any of the above
99
B
the dominant tenenment is benefited by the easement
100
D
defferred maintenance
101
A
economic obsolescence
102
D
is very often used in the purchase of raw land by a builder
103
D
all of the above
104
B
a trust deed
105
B
consideration is less than $10 but actually has passed to the optionor
106
A
in writing
107
B
pledge
108
A
tenants in common
109
B
vary in different regions of the country
110
B
Real Estate commissioner
111
B
it would be an estate in reversion
112
B
the buyer could sue the neighbor for the encroachment bassed on trespass
113
A
an independent contractor
114
C
check the tax assessor's records
115
D
$308,760
116
D
all of the above
117
B
$121.00
118
D
neither a nor b
119
B
easements
120
D
not be taxed at all
121
A
requires a separate appraisal of the land
122
D
owner's state income tax return
123
C
the present cost using utility
124
D
grant deed
125
A
an estate at sufferance
126
B
up to one year
127
D
any of the above
128
C
$10,000
129
B
charlie has the right to art's share of the assets of the partnership but no right to the management of the business
130
B
voidable
131
A
net income
132
A
all of the following
133
A
front foot
134
D
all of the above are correct statements
135
D
the lender
136
D
a debit buyer
137
A
prices increase as availability decreases
138
C
an easement appurtanant
139
A
dominant tenement
140
A
three months after a notice of default is recorded
141
B
morlin holds a life estate and Ackerman an estate in reversion
142
C
purchasing power
143
A
economic obsolescence
144
B
buyer
145
A
selling real property syndicate securities
146
D
jointly and severally
147
A
the cost of living index rising
148
A
grantor
149
C
FHA loan
150
C
he must put the money in his client trust account