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. Discharge of contracts


2. Secondary mortgage market






3. Covenant of quiet enjoyment


4. Cooperative






5. Allodial system






6. Open listing






7. Tacking






8. Bill of sale






9. Multiple listing service (MLS)






10. Deed in lieu of foreclosure






11. Rural Housing Service (RHS) Direct Loan Program






12. Deed of trust






13. Land contract






14. Essential Elements of a contract






15. Customer






16. Growing equity mortgage (GEM)


17. Conforming loans






18. Vendor






19. Dower


20. Assignment






21. Buyer's contract






22. Take-out loan






23. Breach of contract






24. Immobility






25. Straw Dog






26. Disclosure statement






27. Condition precedent






28. Owner's policy






29. Open mortgage






30. Listing contract






31. Convey






32. Counter-offer






33. Promissory note






34. Good faith estimates


35. Bilateral contract






36. Hypothecating






37. Bundle of rights






38. Michigan usury laws






39. Mortgage banks






40. Mortgage broker






41. Cooling-off period






42. Baselines






43. Construction mortgage






44. Familial status






45. Defeasance clause






46. Carryover provision


47. Indestructibility






48. Reality of consent






49. Real property






50. Section