39. An ownership interest in real property that only exists…

39. An ownership interest in real property that only exists for the life of any designated person or persons (often the grantee) is called a(n): a.  life estate.             b.  estate in waiting.        c.  less-than-freehold estate. d.  estate in remainder.

65. Which of the following forms are included in the “Listin…

65. Which of the following forms are included in the “Listing Package”? a.  Disclosure Regarding Real Estate Agency Relationship (AD)   b.  Possible Representation of More Than One Buyer or Seller – Disclosure and Consent      (PRBS) c.  Wire Fraud and Electronic Funds Transfer Advisory (WFA) d.  All of the answers are correct

12. When prices rise due to shortages of available propertie…

12. When prices rise due to shortages of available properties, it is known as a: a.  buyer’s market.                             b.  seller’s market.                                  c.  lender’s market. d.  deflationary market.

32. A required form, provided by the seller, which identifie…

32. A required form, provided by the seller, which identifies items of value attached to the structure or land and states whether these items are operational, is called a(n): a.  operational form. b.  list of items working. c.  transfer disclosure statement. d.  none of the answers are correct.