Category: Uncategorized

41. Which term describes a strip of land that separates residential homes from commercial development?

99. While working for a broker, a sales associate acquired a listing for $298,900 at a 6% commission rate. A second sales associate, who works for another brokerage office, found the buyer for the property. The listing and selling brokers agree ro a 50-50 split between the two offices. The property sold for $296,000. The selling broker kept 45% of the commission received by the selling office. How much did the selling office’s sales associate receive?

93. A building is valued at $135,000 with an estimated 25-year useful economic life. The building has an effective age of five years. Using the age-life method, find the depreciated value of the building.

54. A type of real estate investment that offers diversification and liquidity and that is similar in form to a mutual fund is called

78. Which document must a prospective buyer of an existing (resale) condominium unit receive?

89. A contract for sale and purchase stipulates that the seller will pay for title insurance. The contract further states that the seller will choose the title insurance company. Which statement applies to this situation?

87. Which valuation product requires the services of a licensed or certified appraiser ?

81. Which legal procedure is used to determine a fair price in an eminent domain action?

86. Which statement regarding state intangible taxes on new mortgages is TRUE?

21. Which statement is FALSE regarding postdated earnest money checks?