Test your basic knowledge |

Brokers License

Subject : certifications
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. ___ is a limitation on your rights. It may also be a cloud on the title






2. The deed of trust involves three parties...






3. Common law does not always takes precedence over...






4. Broker- Salesperson - owner-property manager-> which agency?






5. ___ - a naturally occurring colorless and odorless gas produced by the decay of radioactive materials in rocks under the ground.






6. The secondary market warehousing agencies are...






7. One who acquires property under a deed is....






8. Tenancy by the Entirety is a specific type of joint tenancy where the co-owners are ___






9. ___ are imposed to control land use - development and methods and materials for construction.






10. High tension wire should be disclosed






11. When the principal learns of those actions - if the principal accepts those actions - that creates agency___






12. ___ is created when a licensee acts like an agent and others respond to those actions.






13. A principal's duties to an agent ar...






14. IN Reg Z Advertising which states only __is permitted






15. If a party wins a judgment and is unable to collect - he can secure a___ from the courts to enforce payment.






16. IRS Lein - Specific lein or general lein






17. ___loan - Covers more than one piece of property






18. An ___ is a limitation on your rights






19. Property Manager ( which type of Agency)






20. Ownership by two or more without rights of survivorship is called






21. The veteran must obtain a Certificate of Eligibility from the VA






22. Foreclosure under a "power of sale" clause ends when the Trustee delivers a:___

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


23. The minimum withdrawal from a home equity LOC is






24. A borrower must be given a disclosure statement showing the full cost of borrowing within __ DAYS of loan application.






25. The insurance on the FHA loan is referred to as___






26. __ clause - states that the lien is defeated when the debt is repaid.






27. 'Due on sale' clause states that the balance of the secured debt becomes due if the property is sold by the mortgagor without the mortgagee's approval. It is called?






28. ___ is the term used to describe methods used to lower levels of radon in homes and other buildings






29. The life cycle of a neighborhood is defined as the stages of growth and development of a neighborhood






30. Which of the following instruments is the promise to repay a debt?






31. __ is a specific type of joint tenancy where the co-owners are husband and wife.






32. Power given to a municipality to regulate and control the character and use of property for the health - safety and general welfare of the public.






33. On income producing property land can never be depreciated for...






34. The trustee has two functions in accordance with the Deed of Trust.






35. For what group of buyers would the ARM be the least desirable?






36. This lease survives death and/or the sale of the property. No notice is required to terminate.






37. Advantages of FHA loans

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


38. ___ is a loss of value due to outside factors. This is also called external obsolescence. It is incurable. (zoning - air pollution - noise - traffic - jobs - etc.)






39. An attorney-in-fact is the holder of...






40. Must sign the Deed of Trust.






41. ___ gives the agent the power to perform only specific acts and no others.






42. Includes real property plus personal property






43. This is a partially amortized loan with a final payment substantially larger than the others. The benefit of this type of loan is a lower interest rate.






44. Partially amortized loan - benefit






45. Loans qualified to be purchased in the secondary market are called






46. Lenders can deny credit if your sole source of income is__






47. ____ - the refusal to lend in a particular geographic area - is prohibited.






48. Loans qualified to be purchased in the secondary market are called __






49. When a principal fails to maintain due diligence over his agent and as a result the court prevents the principal from denying that agency - agency by __ is created.






50. ___market is where lenders go for money







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests