Real Estate Express

Which date is the beginning of the commissions fiscal year? - correct answerJuly 1 Which of the following is not a requirement to qualify for the position of commissioner in Nevada? - correct answerMust never have been actively engaged in real estate business Under normal circumstances, what is the maximum number of years a commissioner may serve? - correct answer6 years According to the Nevada administrative code students must receive how many credit hours of real estate education in t...

Triple Net Lease - correct answero A type of lease when the tenant pays for the taxes, insurance, maintenance and repairs is called what? Lease Purchase - correct answer(Lease to buy) Person renting may be obligated to purchase after lease expires Lease Option - correct answer(Lease to buy) Person renting is under no obligation to purchase after lease expires Graduated Lease - correct answerWhich kind of lease increases at specified intervals? Net lease - correct answerWhen a tenant ...

Which agency in Illinois has responsibility for licensing schools and instructors? Training and Development Department Division of Real Estate Standards Council Advanced Advisory Council - correct answerDivision of Real Estate Which of the following is NOT an activity included in the definition of Broker? Sells, exchanges, purchases, rents, or leases real estate. Negotiates the sale, exchange, purchase, rental, or leasing of real estate. Holds a non-public open house. Engages in the b...

local government - correct answerProperty taxes are governed by Property values - correct answerIs/are the key indicator of the health of the nation House led & House Fed - correct answerIt is frequently written that American economy is Are real Estate business is done under the authority of a real estate broker - correct answerTrue A Real Estate Broker - correct answerWhich would not usually be a source of financing in real estate The Legal description of a property is - correct ...

Which of the following is exempt from the Natural Hazards Disclosure? - correct answer Karen and Jay need a larger home. They have two large dogs and a baby on the way. One day in the real estate section, they see their dream home. The couple view the home that very day, make an offer and it's accepted. There's only one problem: They haven't even put their home on the market. Which type of loan gives Karen and Jay their best option of paying two mortgages until their current home sells? - ...

Essential element of a contract, something of legal value - correct answerconsideration Seller has the right to hire any number of brokers - correct answeropen listing Nevada real estate commission must hold a minimum of how many meetings per year - correct answertwo Water rights pertaining to lakes/oceans - correct answerlittoral Burdens or limits to title of property - correct answerencumbrance Real estate advertisement can only use "team or group" when - correct answerdoesn'...

How does subdividing differ from real estate development? - correct answerA developer constructs improvements to the land; a subdivider separates it into smaller units. If a licensee acts as an independent contractor, then - correct answerhe controls his own working hours. When two or more parties are bound to act as described in the contract, this is referred to as a: - correct answerbilateral contract A type of value estimate approach, in which value equals the estimated land value pl...

At least that goes month to month is known as - correct answeran state from period to period Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments, plus 9% interest. in this case what is the monthly interest in the first month - correct answer$225 1st you take $30000 in multiply it by 9% for the total annual interest paid or $2700. Divide that by 12 months for the total of $225 per month entries payment Typically a listing broker is usually considered to be? - corre...

Advisory service provider - correct answerBroker works on projects in exchange for a fee salary or retainer. Comps, database search, prospect screening, site analysis. Real estate activities - correct answerCreate, improve, manage, maintain, demolished, on, regulate, transfer real properties Forms of specialization - correct answerBuy property type, geography, type of transaction, type of client, form of business, form of client relationship Professional organizations - correct answerPr...

A violation of a Commission rule is -subject to a reprimand for an initial offense. also considered a civil offense and subject to similar disciplinary action. -considered breaking the law and requires a hearing before the judicial board. -considered the same as violating the license law itself. - correct answerconsidered the same as violating the license law itself. In the event of a Commission vacancy -the governor appoints a new member. -the remaining members elect a replacement ...