How much do you know about being a real estate agent? Are you studying for an exam? This quiz can help. A real estate agent assists people with the buying or selling of property. They possess the skill and expertise necessary to either market the property or sell for the best possible outcome. If you want to put your knowledge to the test, look no further than this quiz.
The rights and interests which a person has in the thing owned
Freehold estate
Only personal property
Things that buyers and sellers own
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Loan-to-value ratio
Divorce, personal problems, etc
Loan portfolio
None of the above
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Discounting the note
Amortizing the note
Committing an act requiring a real estate license
Committing fraud
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Financially able
Having the ability to obtain the necessary funds to purchase real property
Having the ability to obtain necessary financing
Any of the above
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The greatest interest a person can own in land
An easy way to transfer title
A common way to hold title
An expensive way to transfer title
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Could become real property
Can be hypothecated
Can be alienated
All of the above
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Diversification
Liquidity
Reserves
All of the above
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Escrow instructions with no conditions
A binding contract between the buyer and seller and the condition delivery of transfer instruments to a third party
The services of a licensed real estate broker
None of the above
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Absorption
Accretion
Allusion
Avulsion
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Alienate
Hypothecate
Assess
All of the above
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Terminus ownership
Severalty ownership
Plottage
Disassemblage
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Ethical conduct
Continuing responsibility
Fiduciary obligation
Business practice standards
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Subordination
Escalation
Acceleration
Alienation
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Condition
Restriction
Easement
Covenant
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Grant deed
Financing statement
Trust deed
Bill of sale
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Maintain conformity to buildings in the zoned area
Prevent an oversupply of certain types of businesses
Promote public health, safety, morals and general welfare
Control the quality of building construction
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Evaluate by the broker against the first offer
Submitted immediately
Held pending a decision on the first offer
Turned back to the offeree if it doesn’t provide better terms
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A court action for damages by the buyer
A rescission of the sale by the buyer
Civil responsibility for compensating the buyer to misinterpretation of the broker
Any of the above
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Mobility
Value
Permanence
Length of life
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The salesman’s employing broker may retain one-half of the deposit and must give one-half to the seller
The broker may sue the seller but must return the deposit
The broker may retain one-half of the deposit and must return only one-half to the buyer
The broker may retain the deposit to compensate him for his efforts
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Realization of an unexpected profit
Creation of an existing agreement
Substitution of a new contract for an old one
Modification of a contract
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Loan-to-value ratio
Borrower's income
Value of the property
None of the above
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Personal property later affixed to the real property so as to become real property
Improvement built on the land after title is acquired
Additional land acquired afterward by the trustor
All of the above
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Planted trees
Leasehold
Chattel real
Debts
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Incorporated into the land
That is made part of the chattel real
Referred to by actions but not referred to in the sales contract
Used in an extraordinary way with the land
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A straight note
Amortized
Partially amortized
A graduated payment note
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Annexation
Agreement
Cost of the item
Intention
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An appraiser’s written opinion of value.
Willing buyer and willing seller
Sales price
Listing price
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This person is testing you
They are interested in that particular property
They are interested in owning a home in an all minority neighborhood
They cannot qualify to own property in a higher priced area
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Make up an office memorandum
Confirm the showing to the buyer
Notify the seller as to the prospect’s identity
Notify the local real estate board
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Successful because of the P20,000 is not adequate considering the value of the property
Successful because the reason for canceling by the buyer was not strong
Unsuccessful because the seller agreed to accept the P20,000 as liquidated damages in the contract
Unsuccessful because an attorney drew the contract
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Beneficially
Jointly and severally
Universally
Unconditionally
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Agreement between the parties
Permanence of the installation
Cost of the article
Relationship of the parties
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Harvested crop of wheat
Bearing wall in a single family dwelling
Built-in refrigerator in a mobile home which is not attached to a foundation
Trade fixture attached in such a way that can be remove without damage
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Leveraging
Liquidating
Discounting
Subrogating
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Fixture
A mortgage securing a promissory note
Mineral rights
Trees in nature
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The equity in property is high
The equity is not affected
The equity in the property is low
None of the above
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The buyer has demanded that these expenses be incurred as a condition of continuing with the transaction
Such expenditures were authorized by the principal
It was necessary for him to incur the expenses in order to close the sale
The broker was representing the best interests of the principal in consummating the sale
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Endorser
Maker
Payee
Holder in due course
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Price tends to rise
Price tends to drop
Demand for it tends to rise
Demand for it tends to drop
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Prepaid taxes
An assumed loan
Title insurance premium
Delinquent assessment lien
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Equitable title
Legal title
A grant
The right of use on the land
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Offer
Acceptance
Consideration
Performance
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The employment of a business opportunity broker to sell the stock, fixtures and goodwill of a business
The employment of a business opportunity broker to find a business to be purchased by his principal
The employment of a broker to exchange leases on properties zoned for retail business
Any agreement which is not to be performed within one year
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A total effective interest rate greater that if the loan were an installment loan
Equal annual principal reduction payments
No principal payments during the term of the loan except on the last payment
None of the above
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An others
Amount over and above
And wife
Without recourse
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Scarcity
Appreciation
Utility
Transferability
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A sub-lease
Mineral rights
Trees in nature
A fixture
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