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10 Cards in this Set
- Front
- Back
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Which of the following situations is an example of intermediary agency? |
The supervising broker or a single licensee represents both parties. |
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In a market economy, if supply decreases relative to demand |
price increases |
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5. If the terms of a determinable feasible fee estate are violated, what is the status of the property? |
The estate automatically reverts to the grantor or heirs. |
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6. What type of land survey system was developed shortly after the American Revolution when the government wished both to issue land to soldiers in reward for their services, as well as to sell land to raise money for the country? |
Public Land survey system |
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7. land is |
non-homogeneous. |
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9. Real estate licensing regulations on the state level
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deal primarily with agency issues and disclosures.
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What type of units are owned by a corporation that sells shares of stock to the owners?
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co-op
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What are the most common types of encumbrances? |
easements and leins |
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14. A person is not eligible for appointment as a public member of the commission if that person owns or controls, directly or indirectly, |
more than a 10 percent interest in a business entity or other organization regulated by the commission, or receiving funds from the commission. |
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