Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
28 Cards in this Set
- Front
- Back
|
“Under all is the land. Upon its wise utilization and widely allocated ownership depends the survival and growth of fine institutions and our civilization.” This quotation is from the code of ethics of the national association of _______ |
realtors |
|
|
It is stated in the doctrine of ______ that failure to take action in a timely manner might limit the extent of the lawsuit |
Laches |
|
|
The law requires a broker to retain a copy of a deposit receipt for a minimum of three years from the date of the _______ of the transaction |
closing |
|
|
Brown is a licensed California real estate broker. By choice, he is neither a member of the National Association of Realtors nor the California Association of Realtors. He also chooses not to be a member of the local realty board. When he advertises homes he has listed for sale, he refers to himself as a “realtor”. This action would be deemed suffient to warrant disciplinary action by the __________ of _____ ______ |
commissioner of real estate |
|
|
If Smith wanted to earn $300 per month, what is the amount he would need to invest at 3%? |
120,000 |
|
|
In which year was the federal civil rights act passed, barring all discrimination within the real estate industry? |
1968 |
|
|
The abbreviation HVAC stands for |
heating, ventilation and air conditioning |
|
|
the holden Act of 1977 prohibits discrimination in regards to ________ |
redlining |
|
|
is a public agency charged with tax administration and fee collection in the state of California in the United States. |
State board of Equalization |
|
|
definition: The liability for any sales tax amounts due and unpaid by the former owner of a business which passes to the succeeding owner |
Successors liability |
|
|
When filing a complaint under the provisions of the California Fair Housing Legislation, the alleged violations must be reported to the proper authorities within how many days of the alleged perpetration? |
desks60 days |
|
|
A broker would usually determine the monthly "desk fee" by determining the average total of office expenses, and divide the number of _____ |
desks |
|
|
Wells acts as the leasing agent for Webster’s investment properties. Wells’ commission is based on a percentage of the total rent collected over the term of the _____ |
lease |
|
|
In the event a broker seeks a buyer for an unlisted parcel of real property and subsequently accepts a deposit on that property without securing authorization from the owner to sell the property, he is acting as an agent for the _____ and not the seller |
buyer |
|
|
When the seller of a single-family residential home complies with the requirements of a Transfer and Disclosure Statement, the seller must make a reasonable and honest inspectionwhen completing the report |
tinspection |
|
|
Agent Webster’s real estate license has been suspended because money was paid out of the Recovery Account to satisfy a child support judgment against Webster. His license will remain in suspension until he pays back the recovery fund for the money it paid out plus ________ |
interest |
|
|
On January 1, 1988, a real estate disclosure law became effective in regards to ______ relationships |
agency |
|
|
When running a newspaper ad, advertising a house for sale and only the annual percentage rate of the loan is stated, what other information must be disclosed?
Answer: Any additional disclosure is ___ ________ |
not required |
|
|
In california, the statute of limitations on actions based on judgments and latent defects in real property is _ years |
6 years |
|
|
When adjusting the cost basis for Federal Income Tax purposes, ________ ________ may not be added to the original cost basis? |
mortgage payments |
|
|
The "hold Harmless clause" which is commonly included in listings, is about the seller agreeing to hold the broker harmless and to indemnify the broker for losses in the event the ______ fails to provide correct information |
seller |
|
|
Definition: the amount of rent a property might yield if available in the present market |
Economic Rent |
|
|
The factor with the least relevance in a sale leaseback would be the ____ value of the building being sold |
book |
|
|
When a real estate agent wishes to determine a fair and accurate rental amount for office space, he should use the __________ approach |
comparison |
|
|
When a property is subject to a mello roos bond issue, disclosure of that fact is the responsibility of the ______ |
seller |
|
|
As part of the preparation of a TDS, the broker must make an on-site inspection of all accessible areas and report his findings on the ___ form |
TDS |
|
|
In regards to the accrued income of a real estate office, the term "company dollar" refers to the income of the ofice after all ___________ are subtracted |
commissions |
|
|
On Jan. 1st, 1988, a real estate disclosure law became effective in regards to ______ relationship |
agency |
