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. Rectangular survey system






2. Marketable (merchantable) title






3. Poluntary alienation






4. Real property






5. Free market






6. Valuable consideration






7. Testimonium clause


8. Margin






9. Estate at will






10. Adjustable rate mortgage (ARM)






11. Client






12. PITI ppayment






13. Duress






14. Real Estate Settlement Procedures Act (RESPA)






15. General warranty deed






16. Subagent






17. Annual percentage rate (APR)






18. Cooling-off period






19. Leasehold policy


20. Accord and satisfaction






21. Life tenant






22. Statutory redempton






23. Good consideration






24. Condition concurrent






25. Latent defect






26. Deed in lieu of foreclosure






27. Land use controls






28. Covenant of quiet enjoyment


29. Assignor






30. Reversion






31. Personal representative






32. Retainer






33. vendor's affidavit






34. Quarter-section






35. Executed contract






36. Carryover provision


37. Acceptance






38. Seller agency


39. Mortgagee






40. Disclosure of information






41. Term mortgage






42. Michigan Condominium Act






43. Legality of object






44. Condominium






45. Stipulation






46. Michigan Consumer Protection Act






47. Equitable redemption


48. Fannie Mae (FNMA)






49. Promissory note






50. Nonjudicial foreclosure