The tests are developed using concepts found in the general portion of the actual exam and cover areas such as product knowledge, terms, and concepts. Pearson VUE delivers real estate practice exams. The practice tests coincide with the current, general test outline. Evident by the following: attachment/annexation, adaptation, or agreement. The tests are developed using concepts found in the general portion of the actual exam … Pearson Vue National exam prep Real Estate. To ensure the best experience, please update your browser. The tests are developed using concepts found in the general portion of the actual … 226 terms. See FAQs ». Pearson VUE. -Exhibit a higher level of knowledge and competency than a non-licensed individual, = Actual (appraised) value x Assessment rate, = Assessed value (smaller than actual value) x Mill/Tax rate. A power of attorney from is used to appoint the attorney-in-fact, Created through an oral or written listing or buyer representation agreement, Created through the actions of the parties and should not be used for listings because it is not in writing, Mineral used in building that can cause respiratory disease, - Odorless gas that is by-product of combustion, - Toxic mold is created by excess moisture and humidity, Formaldehyde, Polybutylene, choloroflurocarbons, electromagnetic fields, and methamphetamine labs all pose potential problems, - Report that assess the probable impact on the environment of a proposed project, Seller and broker/salesperson must reveal all known material facts, 1) Avoid - by removing the source of risk, Covers fire and other hazards, such as windstorm, hail, and smoke damage, Always a separate policy from home, rental, or building insurance policies, Covers the risks an owner assumes whenever the public enters the building, Covers theft, burglary, vandalism, and machinery damage, as well as health and accident insurance, Covers an owner against financial losses resulting from an employee's criminal acts or negligence while performing assigned duties, Covers the common elements in condominiums and cooperatives, - Covers brokerage firms, brokers, and salespersons liability for errors and negligence in listing and selling activities, - Purchase contracts determines how and when the earnest money is to be deposited, Prohibits discrimination based on race or ancestry, Channeling of potential buyers to or away from particular areas as a means of discrimination, Also called panic peddling- inducing people to sell their homes because of the entry into the neighborhood of members of protected classes, Refusing to offer or limiting loans to certain areas; may not refuse to loan based on high crime rates in a neighborhood, Antitrust laws prohibit anti-competitive behavior, such as price-fixing, Governed by Truth in Lending Act/Regulation Z and the Real Estate Settlement Procedures Act (RESPA), Financing/Credit Laws NEW LAW-INTEGRATED MORTGAGE DISCLOSURES, Consumer Financial Protection Bureau (CFPB) was charged with combining (integrating) both laws into two disclosure forms, National list of phone numbers that telemarketers cannot call, Promise to repay; evidence of the debt (not recorded), Mortgage and Deed of Trust (Security Instruments), A mortgage/deed of trust is a contract that pledges property as security for repayment without giving up possession, When note is paid, lender gives satisfaction to release lien, - Term/straight/interest-only loan (balloon loan), - Repaid in equal payments of principal and interest, - Loan is repaid in equal payments of principal and interest with the balance paid in full on last payment, - Rate may go up or down based on change in the index, and as agreed to in the loan documents, - Borrower pays P&I plus 1/12 taxes and 1/12 insurance into lender's impound escrow account (interest and taxes are deductible), - Mortgagee makes payments to the mortgagor over a specific term, - Includes more than one property in a single loan transaction, - Allows borrower to obtain further advances on the loan at a later date, - Borrower is of higher risk, so the loan is more likely to default, - Umbrella term for unfair or illegal lending practices, Contract for deed/land contract/installment contract, - Maximum percentage of value the lender will loan, - Discount points are charged by the lender to increase the lender's yield (1 point = 1% of loan amount), - Borrowed money is used to increase the investment return, Allows a change in the order/priority of mortgages, Charging of an interest rate in excess of what is permitted by state law, Loans are not insured or guaranteed by the government, Insures lenders against loss due to foreclosure, Guarantees lenders against loss on loans to veterans, - Both requires the property be owner occupied, - Buys mortgages from primary lenders, which are banks, NOT retirement or insurance funds, Terms of escrow or closing are created by the purchase contract and finalized at closing, - CREDIT to SELLER is anything that INCREASES the amount of money the seller takes from the closing (sales price), Elements of Leasehold (Non-Freehold) Estates, - Have a definite duration and may be terminated, Types of Leasehold (Non-Freehold) estates, - Has set terms and a predetermined termination date; definite period NO NOTICE, - Renews from period to period with same terms and conditions upon payment of rent until notice is given, - Continues until terminated by the owner or the tenant. The tests are developed using concepts found in the general portion of the actual exam … . Choose from 74 different sets of pearson vue real estate exam flashcards on Quizlet. 7/7/2020 Welcome to LearningExpress Library™ 1/30 Pearson Vue Real Estate Salesperson Practice Exam 1 Total Questions: 80 About This Test This printable version does not … Please note that our customer service wait-times are also longer than usual right now. hawkinsjosh122. Please VERIFY that you have registered your LEGAL name as it appears on your government-issued ID and that your personal information is CORRECT. Pearson VUE offers Broker and Sales practice tests for $19.95. Find answers to frequently asked questions about the Real Estate Practice Tests. Pearson Vue Practice Test (Real Estate) Description. The tests include questions on general real estate topics. The tests include questions on general real estate topics. Pearson VUE offers Broker and Sales practice tests for $19.95. Real Estate Practice Tests :: Pearson VUE. If an investor is seeking a capitalization rate of 7%, what would this property be worth? Unfortunately, your browser does not meet our new security requirements. A live proctor will monitor you through the webcam on your workstation to provide a secure exam experience. This page contains specific information about testing for a Texas Real Estate Salesperson or Broker license. Take your Florida Real Estate exam conveniently from home through OnVUE online proctoring. Exam Prep Edge is an intuitive online study experience to help you pass the Wyoming real estate exam. Transfers via bill of sale if included in contract, Incidental to ownership of land abutting flowing water, Incidental to ownership of land abutting water that is NOT flowing, Increase in an owner's land from deposits of soil by the action of water, Sudden loss of land, from being washed away or through a violent act, First user diverting to beneficial use has the first claim on the water, Description of land using distances and compass degrees moving in a set direction, Uses meridians, townships, ranges, tiers, and sections to locate land parcels, Create a plat map via a survey showing lots and boundaries, Lasts forever and features the maximum rights of ownership, Last "so long as" the deed condition is met, Claim that attaches to and is binding on property to secure debt repayment, Revocable permission to use the land w/o creating an estate in land, Recorded document that gives constructive notice of a pending lawsuit about title, When property is owned by one person or entity, Co-ownership with NO right of survivorship, Co-ownership WITH the right of survivorship, Applies exclusively to married couples in some state, Purchasers own and finance their own units, Ownership of the building by a corporation, which in turn leases space to share holders who own stock in the corporation, Common interest ownership form in which multiple owners have interest in a property, Purpose is to transfer title between owner/grantor and the receiver/grantee, Types of deeds in private grants (Voluntary alienation), Warranty deed/General warranty deed (best for grantee) - five covenants and a guarantee of title, Warrants only those defects and encumbrances that occur during the grantor's period of ownership, Used as problem solver and to terminate deed restrictions; no promises, no guarantees, Contains only implied warranties that the grantor hold the title and possessions of the property, Government transfers ownership by a land patent to a private party, Probate is the process of distributing all of a deceased's assets, Other ways of transferring title (Involuntary Alienation), A) Buyer's goal is to obtain marketable (merchantable) title, - Enacts and enforces laws governing land use, - Right to "take" private land for public use, Ad valorem based on assessed value, NOT current market value, - Lien against specific properties that benefit from a public improvement, Government Controls based in police power, Building codes or standards and certificates of occupancy, - Deal with structural integrity and safety of a building, 1) Deed restrictions or covenants: privately created controls on land use, When there is an issue between government and private restriction, the strictest applies, 1) estimate or opinion of market value, done by licensed appraiser, Essential elements or Characteristics of value, Use most current comparables, preferably within six months but no longer than a year, Most effective method for new construction and special-purpose or single-purpose buildings, Primarily used for income-producing properties, such as apartments, office buildings, or shopping centers, Conversion of future income to present value, Potential gross income - vacancy - credit loss = Effective gross income (EGI), Alternative to capitalization that takes into account gross income but not expenses, Mortgage interest, property taxes (ad valorem taxes), discount points, and certain loan origination fees are deductible, How to determine how much an improvement has depreciated, Value / number of years being depreciated x number of years its been, 1) Legally binding and enforceable agreement to do or not do something, Duties are complete by both parties; fully performed, One or both parties need to complete part of the contract; duties are YET to be performed, Transfers obligation or right, but not liability (Sublease), New contract replacing an old one; transfer obligation and liability, Changes or modifications to a contract must be in writing and signed by all parties, Additional material attached to and made part of the initial agreement (offer), 1) Competent parties/Contractual capacity, 1) Requires certain contracts for the transfer of real estate in writing to be enforceable, Brokerage gets paid UNLESS owner obtains buyer, Listing agent is the only brokerage who gets paid, 1) Express agreement - in writing and signed, Broker collects commission within a specified time after termination if a buyer the broker procured during listing buys the property, Obligations of the listing broker or salesperson, Obligations of all brokers and salespeople, 1) Verify all info and statements made by the buyer and seller, - Owner/seller gives the buyer the right to buy or a set price and a set term, Mutual agreement of all parties to cancel obligations, 1) Enforce specific performance (court action), 1) Fiduciary responsibilities (O.L.D. Get help passing the national portion of your exam today! Copyright 1996 - 2021 Pearson Education Inc. or its affiliate(s). Allow 5-7 business days for processing and re-authorization to be submitted to Pearson VUE to allow you to re-schedule the exam. Current 2018 CBEST Registration Info, Costs & Testing Sites Pearson vue testing center lake forest ca. 64 terms. It looks like your browser needs an update. The property taxes will be $2,100 per year, and the insurance will be $915 per year. Upon completion of the additional education, please submit copies of the course completion certificates along with a copy of the third failed score report to TREC at documents@trec.texas.gov. State-specific practice tests are not available. The tests are developed using concepts found in the general portion of the actual … Below you will find a general overview of CBEST registration info and testing fees, as well as a list of CBEST computer-based testing center locations Pearson vue … Pearson VUE offers Broker and Sales practice tests for $19.95. Salespersons cannot take contracts or listings without permission, when they leave, Owe duties to the client equivalent to the duties owed by the employing broker, Contain funds hold for others by the brokerage firm (earnest money, taxes and insurance, escrow payments, and unearned commissions), Licensees must immediately give earnest money checks to listing brokerage firm after offer is accepted, Obligations of all real estate professionals, Required to maintain the security of documents and the confidentiality of those they represent. An investor bought a property for $350,000 and it recently appraised for $400,000. For name updates, you will need to submit a copy of your driver’s license or marriage certificate to documents@trec.texas.gov. Register for your next exam, find test information, or download handbooks/applications/forms from this page. At settlement or closing, certain expenses must be equitably divided between the seller and buyer. C.A.R. View 1 Question at a Time . The tests include questions on general real estate topics. The tests include questions on general real estate topics. How much is the lender charging in dollars? The practice tests coincide with the current, general test … The owner pays an average of $18,000 per year in expenses. The tests include questions on general real estate topics. Using this information and Figure 11.10, calculate their monthly payment. n Home; Flashcards; Real Estate Practice Tests. Pearson VUE offers Broker and Sales practice tests for $19.95. Ch 6 Pearson VUE… The tests include questions on general real estate topics. The tests are developed using concepts found in the general portion of the actual exam and cover areas such as product knowledge, terms, and concepts. Pearson VUE offers Broker and Sales practice tests for $19.95. 1. Our product includes flashcards, study vocabulary, … . Before March 17, 2018, upgrade your browser to the newest version to avoid any interruption in accessing PearsonVUE.com. 2010-02-25T00:33:59Z. Pearson VUE offers Broker and Sales practice tests for $19.95. After this requirement has been met, you can register for the Real Estate License Exam in the state in which you intend to practice professionally. The tests are developed using concepts found in the general portion of the actual exam and cover areas such as product knowledge, terms, and concepts. Start studying Real Estate (pearson vue). Jim and Jane are buying a house together, and they earn $65,000 per year combined.

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