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. Valuable consideration






2. Master deed






3. Devise






4. Disintermediation


5. Devisee






6. National Fair Housing Alliance (NFHA)






7. Regulation Z






8. Joint tenancy






9. Michigan State Housing Development Authority (MichDA)






10. Employ






11. Statute of Frauds






12. Michigan Due on Sale Clause Act






13. Margin






14. Mortgagee's policy






15. Merger






16. Assignee






17. Tester






18. Fair Housing Act of 1968






19. Receiver






20. Innocent misrepresentation


21. Varticipation mortgage






22. Good faith estimates


23. Plat






24. Principal meridians






25. Site condominium






26. Familial status






27. Executor /executrix






28. Equitable title


29. Foreclosure






30. Trustor






31. Mortgage






32. Annual percentage rate (APR)






33. Installment land contract






34. Defeasible






35. Real Estate Settlement Procedures Act (RESPA)






36. REALTOR*






37. Right of assignment






38. Grant deed






39. Specific performance






40. Estoppel






41. Balloon mortgage






42. Estate from year to year






43. Operation of law






44. Statutory redempton






45. Alienation clause






46. Vrivate mortgage insurance (PMI)






47. Open mortgage






48. Straw Dog






49. Good consideration






50. Parol evidence rule