Test your basic knowledge |

MI Michigan Real Estate Test

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. Rural Housing Service (RHS) Direct Loan Program






2. Condition subsequent






3. Contract buyer's policy


4. Mortgagee






5. Freddie Mac (FHLMC)






6. Fannie Mae (FNMA)






7. Grantor






8. Counter-offer






9. Principal






10. Realty






11. Undue influence






12. Seller agency


13. Fixture






14. Conditional sales contract






15. Amortizing loan






16. Right of survivorship


17. Mortgagor






18. Receiver






19. Title examination






20. Credit






21. Owner's policy






22. Premises clause






23. Emblements






24. Fiduciary






25. Valuable consideration






26. Subrogation of rights






27. Loan-to-value ratio


28. Section






29. Estate for years






30. CConventional mortgage loan






31. General agent






32. Michigan usury laws






33. Scarcity






34. Michigan Condominium Act






35. Covenant of seisin and right to convey






36. Allodial system






37. Express agency






38. Accidental or Ostensible Agency






39. Seller's disclosure statement






40. Executory contract






41. Settlement






42. Discharge of contracts


43. Chain of title






44. Assignee






45. Real property






46. Mortgage






47. Arrears






48. General warranty deed






49. Open listing






50. Accrued expenses