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. Vroration






2. Discount points






3. Hypothecating






4. Constructive notice






5. Sub agent






6. Principal






7. Chattel






8. Truth-in-Lending Simplification and Reform Act (TILSRA)






9. Covenant of seisin and right to convey






10. Junior mortgage






11. Buyer Agency Agreement


12. Offer and acceptance






13. Agent's Responsibilty to principals






14. Amortizing loan






15. Commission Paid to Sales Associates


16. Co-ownership






17. Granting clause






18. Real property






19. Waste






20. Michigan's Seller Disclosure Act






21. Land contract






22. Operation of law






23. Tenancy in common






24. Compensatory damages






25. Innocent misrepresentation


26. Covenant of quiet enjoyment


27. Freehold estate






28. Appraisal






29. Location






30. Leverage


31. Breach of contract






32. Testimonium clause


33. Implied contract






34. Finance






35. Credit






36. Chain of title






37. Beneficiary






38. Trade fixtures






39. Alienation clause






40. Sherriff's deed






41. Cooling-off period






42. Listing contract






43. Poluntary alienation






44. Feudal system






45. Principal meridians






46. Mortgage banks






47. Mortgage assumption






48. Uniform Vendor and Purchaser's Risk Act


49. Agent's Responsibility to Third Persons


50. Mortgage assumption