Real estate

Which of the following statements is true regarding a mortgage loan originator?

• A mortgage loan originator is the same as a mortgage lender

• A mortgage loan originator must have a separate license

• A mortgage loan originator makes lungs

• A mortgage loan originator must have a real estate license

A real estate appraisers fee for professional service is based on which of the following

• A percentage of the property’s gross income

• A percentage of the fair market value of the property

• The time in difficulty of the appraisal

• A percentage of the property sales price

Which of the following best describes a real estate brokerage business

• Service business

• Simple business

• Business with few opportunities available

• Construction business

When a developer complete the construction of a new subdivision, all streets, electric water and sewer installation are finished and deeded to the city or county. What is this process called

• A quick claim deed

• An easement

• Annexation

• Dedication

All of the following are responsibilities of a property manager except

• Renting property for an absentee owner

• Collecting rent

• Overseeing maintenance

• Preparing leases

What does the term farming mean in real estate

• Investing in agricultural properties
• Raising crops and livestock on a piece of land
• Using sustainable farming practices to maintain a property
• Focusing on a specific geographic area to target potential leads and clients

Which insurance policies can a real estate licensee offer to the public without additional state licensing?

• Renters insurance

• Flood insurance

• Fire insurance

• None of the above

What is the purpose of the national association of realtors?

• Preserve the right to individuals to own real property through exchange n of information

• Organize anti-government activities

• Promote an ethical practice of real estate professionals

• Award unearned, educational designations

What does the designation of a realtor signify?

• Has completed a course in property management
• Member of the National Association of Realtors
• Certified to appraise real estate
• Licensed to sell only commercial properties

A developer contract to build a home according to the buyers specifications. This is an example of which type of building.

• Mobile home
• Custom-built home
• Office building
• Apartment complex