Realtor Class

In: Business and Management

Submitted By fathertimer
Words 4681
Pages 19
Name: __________________________ Date: _____________

1.Nine The covenant implied in a lease that ensures that the landlord will not interfere in the tenant's possession or use of the property is the covenant
A) of warranty forever.
B) of seisin.
C) against encumbrances.
D) of quiet enjoyment.

2.Nine The availability of funds for real estate mortgage loans is affected by the Federal Reserve System through which of the following?
A) Federal National Mortgage Association
B) Federal Housing Administration
C) Resolution Trust Corporation
D) Discount rates

3.Nine The closing statement involves debits and credits to the parties in the transaction. A debit is a(n)
A) adjustment for an expense paid outside of closing.
B) refund.
C) proration.
D) charge.

4.Nine The purpose of an appraisal is to
A) determine the projected income of a property.
B) set the amount of consideration the seller should accept from a purchaser.
C) set the market price of a property.
D) estimate the value of a property.

5.Nine The income approach as used by an appraiser makes use of which of the following?
A) Depreciation
B) Capitalization
C) Equalization
D) Appreciation

6.Nine A written summary of the history of all conveyances and legal proceedings affecting a specific parcel of real estate is called a(n)
A) title insurance policy.
B) abstract of title.
C) affidavit of title.
D) certificate of title.

7.Nine A property manager's primary obligation is to
A) bankers.
B) tenants.
C) government authorities.
D) owners.

8.Nine All of the following are treated as personal property EXCEPT
A) trade fixtures.
B) fructus naturales.
C) chattels.
D) emblements.

9.Nine A tenant's lease has expired, but the tenant has not vacated the premises or negotiated a renewal lease. The landlord has declared that the tenant is not to remain in the…...

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