Real Estate Test + Vocabulary 2

Approved & Edited by ProProfs Editorial Team

The editorial team at ProProfs Quizzes consists of a select group of subject experts, trivia writers, and quiz masters who have authored over 10,000 quizzes taken by more than 100 million users. This team includes our in-house seasoned quiz moderators and subject matter experts. Our editorial experts, spread across the world, are rigorously trained using our comprehensive guidelines to ensure that you receive the highest quality quizzes.

Learn about Our Editorial Process

| By Happygirl323

Happygirl323

Community Contributor

Quizzes Created: 2 | Total Attempts: 6,400

Questions: 50 | Attempts: 97 | Updated: Feb 4, 2024

Questions

Settings

Feedback

During the Quiz End of Quiz

Play as

Quiz Flashcard

Create your own Quiz

50 questions

Questions and Answers

Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

Current Version
Feb 04, 2024

Quiz Edited by
ProProfs Editorial Team
Sep 14, 2012

Quiz Created by
Happygirl323

Real Estate Test + Vocabulary 2

To use the capitalization approach to appraising you need the:

Americans with Disabilities Act:

The repayment of financial obligation over a period of time in a series of periodic installments; i.e. the payback of the principal owed to the lender.

In general, when the supply of a certain commodity increases,

Amortization Rate is defined as:

Amortization Term is defined as:

A financial obligation that is repaid over a period of time by a series of periodic payments

A contract for a lump sum or scheduled premiums that are paid out.

The “Statutory Dedication Process” is completed when:

The act or process of developing an opinion of value as of a specific date

Appraisal Process is known as

The best appraisal methods to be used to establish the current market value of a shopping center would be the:

An estimate of the amount of a particular value, such as market value, assessed value, or insurable value, based on the given assignment.

An Appraiser is

Something of value that is given to show acceptance or acknowledgement of a contract, such as money or a promise.

The act of recording documents and making information accessible to prospective buyers and lenders

The net effect of a tight money policy by the Federal Reserve Board would be the increasing of:

An installment contract or contract sale. A type of agreement where the seller holds the title until the buyer has paid in full.

The money provided for materials, labor, land and profits necessary to bring a property into existence.

One insures title through:

Cost Approach is

The amount one pays on borrowed money; an interest rate.

Peter wants to buy his first home but doesn’t know how much he can afford to pay. He has a gross monthly income of $3,000. According to the traditional lender’s rule of thumb formula, what is the total housing expense (principal, interest, taxes, and insurance) Peter can bear?

Counteroffer is:

A liability or equity entered in a party's favor.

A clause in mortgage stating that the rights of the mortgagee shall be secondary to a subsequent mortgage is called:

An amount owed or due.

Deceptive Trade Practices Act:

Property may be technically defined as:

Deduction is:

A written instrument, usually under seal, that when properly delivered and executed conveys property interest from a grantor to a grantee.

Principle characteristics of fee simple title include all of the following except:

Deed of Reconveyance is:

An increase in the value or worth of something due to economic or related causes such as supply and demand, which may prove to be either permanent or temporary.

Which “runs with the land”?

The actual method by which a district imposes a real estate tax

A method of transferring the rights and obligations of a contract to a third party without canceling the contract

Baird Exchange is:

Mr. Jones’ home contains 20,000 square feet of floor space. He intends to install wall-to-wall carpeting at a cost of $6.00 per square yard, but will carpet only 60%of the home. The cost of the carpeting is most nearly?

An instrument which usually transfers possession of real property, but not always ownership in the property is called a:

Under the bulk sale provisions of Division 6 of the Uniform Commercial Code, the publishing and recording requirements are intended to alert which of the following about the intended transfer:

A contractor obtained a construction loan, and the loan funds are to be released in a series of progress payments. Most lenders disburse the last payment when the:

If an owner pays an unlicensed person for selling his home, the one who would prosecute the unlicensed party as a violation of the Real Estate Law would be the:

The Real Estate Law does not permit a partnership of which of the following to operate a Real Estate Office?

Escrow closed May 1st with interest on a $4415 second trust deed paid to June 1st. If the interest rate is 7.2%, the debit to the buyer, if the buyer assumed the loan, would be:

The appraisal principle that states that the highest property values are realized when improvements are proportional to one another and the land in size and type.

A provision of Federal Law whereby a debtor surrenders his assets and is relieved of future obligation to repay his unsecured debts.

A deed without a warranty, generally containing only the minimum standards for valid conveyance, that conveys all of a grantor's interest to a grantee: