Top Real Estate Exam Flashcards

Real Estate Exam - Chapter 17: Property Management

Cards: 8| Attempts: 13| Last updated: Sep 17, 2015

A Property Manager Must:

- Achieve Goals Of The Owners- Generate Incom...

Property Management Begins With A: Managment ...

Prop Manager Is A General Agent

Responsibilities:Financial Reports:

Operating Budget - Gives Owner Sense Of Profi...

Renting The Property & Setting Rental Rat...

When Occupansy Level Of An Apt House / Buildi...

Real Estate Exam - Chapter 18: Real Estate Appraisals

Cards: 12| Attempts: 12| Last updated: Sep 17, 2015

An Appraisal Is:

Estimate Or Opinion Of Value Based On Support...

The Appraisal Process:

CMA - (not An Appraisal But Similar)BPO - Bro...

The Appraisal Process (cont):

- An Orderly Set Of Procedures, Analysis And ...

Value - Property Must Have 4 Characteristics&...

DUSTDemand - Utility - Usefulness For Intende...

Real Estate Appraisal Exam 1

Cards: 51| Attempts: 6| Last updated: Sep 30, 2015

What Are The Five Attributes Of Land?

1. (1) ...

What Else Does Land Include Other Than Just T...

1. It I...

Who Has Control Over The Airspace, And Who De...

1. The ...

What Is The Difference Between Real Estate An...

1. Real E...

Real Estate Exam - Chapter 9: Legal Descriptions

Cards: 5| Attempts: 5| Last updated: Sep 17, 2015

Three Basic Methods To Describe Real Estate

1) Metes And Bounds2) Rectangular (government...

1) Metes And Bounds

- Oldest- Uses Physical Markers (tress / Boul...

2) Rectangular (Government) Survey

- Grid Formation - Uses Principle Meridians (...

3) Lots And Blocks System (recorded Plat)

- Uses Lot And Block Numbers Referred To In A...

PA Real Estate Exam- Contracts

Cards: 38| Attempts: 4| Last updated: Sep 17, 2015

Contract

A Voluntary Agreement Between Leg...

Essential Elements Of A Contract

Competant Parties Offer And Acceptance- Must...

Forbearance

A promise Not To Do Something That A Par...

Expressed Contract

Parties State Terms And Show Intentions In Wo...

Real Estate Exam - Chapter 16: Leases

Cards: 10| Attempts: 4| Last updated: Sep 17, 2015

A Lease Is:

A Contract (b/w Lessor And Lessee)- A Conveya...

Leasehold Estates:Estate (tenancy) For Years:...

1) Any Definite Period (continuous Start And ...

For A Lease To Be Valid, Must Meet Following ...

- Capacity (legal)- Legal Objectives- Offer &...

Improvements:

Neither Landlord Nor Tenant Required To Make ...

Real Estate Exam - Chapter 4: Agency

Cards: 19| Attempts: 0| Last updated: Sep 17, 2015

Agent Is:

A Person Authorized To Work On Behalf Of Anot...

Agency Is Governed By:Common Law:Statutory La...

Common Law: Rules Of Society Established By T...

Creation Of Agency1) Express Agency2) Implied...

1) Based On A Formal Agreement B/w Parties (o...

DefinitionsSubagent:Principle:Customer:Nonage...

Definitions- Agent Of An Agent (uncommon)- Pr...