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[DOWNLOAD] Pa Real Estate Exam Questions And Answers
Posted on 14-May-2021
Five to ten questions disbursed throughout both portions of the exam are considered "experimental" questions and are not scored. Both tests are comprised of multiple choice questions with four answer choices provided for each question. Test takers...
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[FREE] Pa Real Estate Exam Questions And Answers | latest!
Posted on 22-Apr-2021
Most states administer the tests in two parts, and require that the candidate pass both. The general part of the exam is broken into several categories, similar to the categories you will see in this sample practice test below. Another test to...
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Pa Real Estate Exam
Posted on 3-Apr-2021
Land is characterized as immovable because an entire parcel of real estate cannot be moved to another site. Land is considered unique because, at the very least, each parcel of real estate has its own different and distinct place on the planet. Finally, land is considered scarce because entire new parcels of real estate cannot be manufactured. Test-Taking Tip: Because the words "unique" and "indestructible" are in each answer choice, you do not need to spend valuable exam time considering them.
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Pennsylvania Real Estate Exam Questions And License Information
Posted on 9-Apr-2021
Ulyanna's parcel is situated upstream from Daniel's parcel. Over time, the action of the river's water has moved some silt and dirt from the shores of Ursula's property and deposited it downstream on the shores of Daniel's property. Based upon this fact pattern, which of the following lists best describes what has occurred on Daniel's property? Alienation, attachment, alluvium b. Accession, littoral, standing water c. Assemblage, plottage, increased value d. Accession, accretion, alluvium This series of words best describes what has happened on Daniel's property.
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Pennsylvania Real Estate Agent License Exam Prep
Posted on 6-Mar-2021
As it pertains to real estate, "accession" means to acquire more land, even a small amount of land. Here, what happened on Daniel's land is accession by accretion because the natural action of the river's water deposited silt on the shores of Daniel's property. A is incorrect. Alienation can occur either through voluntary means e. Here, Daniel is acquiring property, not losing it. Answer Choice "A" is also incorrect because of the word "attachment. For example, if a tenant had rented Daniel's property, constructed a shed on it, and then left the shed after the lease was over, that would have been an example of accession by attachment. Here, Daniel is gaining additional property through the natural action of the river's water i.
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Real Estate Agent Practice Test
Posted on 26-Apr-2021
Littoral has to do with rights of owners who live by standing water, like a lake, a pond, or the ocean. There is nothing in the fact pattern to suggest either parcel of property is near a body of standing water. These terms are used by appraisers to describe the increase in value when an owner combines several contiguous or touching parcels into one large parcel. The act of combining several parcels into one parcel is called "assemblage. Real Estate Ownership 5. Which of the following is the difference between the value of a property and the total amount of liens against the property?
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Pennsylvania Real Estate Exam Prep
Posted on 2-May-2021
Many owners are under the misguided belief that a high down payment will always result in high equity. This is only true if the market value of the property remains the same as it is when the down payment is given; or increases after the down payment is given. If the market value of the property decreases, the equity in the property will decrease also, regardless of the purchase price and down payment amount. A parcel of residential real estate is held in a life estate. The life tenancy is held by a woman, and she is the measuring life.
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Pennsylvania State Real Estate Exam
Posted on 19-Apr-2021
Her nephew is the remainderman. The life tenant wants to take out a loan using the property as collateral. Which of the following statements is correct? No lender will lend money when the collateral is real estate held in a life estate. The remainderman's signature on the loan documents is irrelevant to the lender's security interest in the realty. Because she is merely a life tenant, the woman holds a nonfreehold estate. Both the life tenant and the remainderman will need to sign the loan documents to protect the lender's security interest in the property.
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Pa Real Estate Exam Practice Test Free
Posted on 14-Apr-2021
The life tenant i. However, if only the life tenant life signs the loan documents, then the debt will die with her. In order to protect the lender's security interest in the event of the aunt's death, both the life tenant and the remainderman will need to sign the loan documents. The same would be true if the property were being sold: Both the life tenant and the remainderman would need to sign the deed in order to ensure that the buyer's ownership interest in the property would continue after the life tenant dies. Test-Taking Tip: Remember a life estate is an estate of ownership aka a "freehold" estate.
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How To Pass The Pensylvania Real Estate Exam
Posted on 23-Mar-2021
With a life estate, there is a "present interest" and a "future interest. Provided that both the life tenant and the remainderman sign the loan documents, the lender's security interest in the real estate will be protected if the life tenant dies during the term of the loan. If the remainderman does not sign the loan documents, the lender's security interest in the real estate will terminate upon the death of the life tenant. A nonfreehold estate is a leasehold estate. A life estate, by contrast, is a freehold estate i. There are four separate, recently-sold parcels of real estate on Main Street. Parcel 1 was owned by a Real Estate Investment Trust and was voluntarily conveyed to the City where the property is situated. Parcel 2 was owned by four unmarried brothers and was voluntarily conveyed to their father.
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Real Estate Fundamentals: Mid-term Exam
Posted on 22-May-2021
Parcel 3 was owned by two corporations, until one corporation recently sold its ownership interest in the property to the other corporation. Parcel 4 was owned by Mr. What do all of these buyers have in common? Concurrent ownership. Fractional, but undivided ownership. Right of survivorship. Ownership in severalty occurs when there is only one owner of a parcel of real estate. The owner can be, for example, an individual, a corporation, a governmental entity, a trust, or a partnership.
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Pennsylvania REAL ESTATE EXAM PREP
Posted on 17-Mar-2021
As long as it is sole ownership, it is an ownership in severalty aka "an estate in severalty". Test-Taking Tip: This is frequently tested because of the word "several" in "severalty. Concurrent ownership occurs when there are multiple owners of the same parcel of real estate holding title together at the same time. If there are multiple owners e. If two owners hold title with a right of survivorship, and one owner dies, then the survivor acquires the decedent's interest in the property automatically, through operation of law.
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Pa Real Estate Practice Questions
Posted on 23-Apr-2021
When properly written, it is acceptable and enforceable in all court jurisdictions, and can be created for any parcel of property. Oftentimes, a deed will contain two types of land description. Generally, a metes and bounds description is accompanied by a rectangular survey or government survey description or lot, block and tract description. Non-monetary Encumbrances 9. Your neighbors use a portion of your property to reach their guest apartment, which is on their property. As far as you can recall, you never gave them permission to use your property, and you discuss with your attorney the possibility of preventing the neighbors from using your property. Your attorney explains that the ownership of the neighbors' real estate includes an easement appurtenant giving them the right to use that portion of your property. In this case, your property is servient because it is the one burdened by the easement while your neighbor's is dominant since it is the one that benefits.
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Real Estate Fundamentals: Mid-term Exam - ProProfs Quiz
Posted on 5-Apr-2021
If you would have given permission to the neighbors to use your driveway, you would have effectively licensed the neighbors, not the property. The word "license" is not typically used as an adjective for the word property.
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Pennsylvania Real Estate Salesperson Exam Prep - Free Practice Exam PA
Posted on 18-Apr-2021
Real Estate Practice Exam 1 Please take a moment to complete this quiz. There are 20 questions. A contract of sale states that the earnest money deposit is to be placed in an interest-bearing account with any interest earned to be given to the buyer. This is: a. Illegal b. Not okay, and the broker should resign the listing c. Okay, because the buyer and seller have agreed to this d. Commingling Real Estate Exam Information If you want to take your state's real estate licensing exam, you will need to complete the required prelicensing education program provided by your state.
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Real Estate Math Guide + Printable Real Estate Math Cheat Sheet
Posted on 9-May-2021
Once this is completed, you will be able to take your state's real estate licensing exam. This exam will include a state specific portion and a national portion. Some topics that may appear on the exam include: Real Property Characteristics.
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Pennsylvania Real Estate Agent Exam Prep
Posted on 7-Apr-2021
A company real estate syndicate Certificate of insurance Certificate of occupancy The national code for Coldwell Banker CO is an abbreviation for certificate of occupancy, which is the municipal document verifying that the premises and parts thereof are approved and safe for occupancy. Building additions usually require a CO. A building inspector performs an inspection before the CO is issued and also checks properties for violations. CO is an abbreviation for certificate of occupancy, which is the municipal document verifying that the premises and parts thereof are approved and safe for occupancy.
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Real Estate Agent License Practice Test ( Current)
Posted on 9-Mar-2021
Start Now Halley owns 25 acres of land in a residential area and wants to develop a real estate complex containing 50 single family homes. What type of mortgage can she obtain that will permit her to pay it off as she sells each home? PMI Open-End Blanket A blanket mortgage is a commercial mortgage often used by real estate developers to finance a project.
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Examination Information
Posted on 15-May-2021
At least two parcels of property are pledged as collateral. The release clause allows the lien to be lifted on particular parcels when a certain amount of the loan balance is paid, such as when a new home is sold and the developer uses the proceeds from the sale to pay off a portion of the Blanket mortgage. PMI is private mortgage insurance, which is not a type of mortgage. An insurance premium is typically added to the monthly mortgage payment. A Pledged Account involves the purchaser placing money in a savings account and using the earned interest to supplement the mortgage payment. A blanket mortgage is a commercial mortgage often used by real estate developers to finance a project.
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PENNSYLVANIA REAL ESTATE EXAM PREP | Real Estate Prep
Posted on 11-May-2021
The City of Glass wants to expand a public park. It needs to obtain the necessary land from private landowners. What government power can be used to obtain the land needed to expand the park? Municipal forfeiture Eminent domain Condemnation Eminent domain is the government power permitting it to obtain private property for public use. Condemnation is the actual taking of the property pursuant to the eminent domain power. Municipal forfeiture and public seizure are not formal terms. Eminent domain is the government power permitting it to obtain private property for public use. After-tax cash flow is calculated by adding back the tax loss to the income and then multiplying by the tax rate.
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PA REAL ESTATE EXAM Flashcards - 1medicoguia.com
Posted on 12-Apr-2021
A tax savings is possible when a tax loss can reduce the taxable income of a separate investment. What is another name for swamps, marshes and bogs? Navigable waterways Wetlands Wastewater systems Wetlands are protected areas that include swamps, marshes, wet meadows and bogs. They may serve as protection for storm and flood water and help control erosion and pollution. They also serve as sanctuaries for wildlife and the natural landscape. Wetlands are protected areas that include swamps, marshes, wet meadows and bogs. Which of the following is not a mixed-use property? A steakhouse on the first floor and offices on the second floor of a building A shipping warehouse adjoining an office suite center A religious prayer facility with residential housing above it An outlet center with clothing and furniture stores An outlet center with clothing and furniture stores are similar commercial uses, so no mixed use exists.
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Pennsylvania Real Estate Broker Exam Prep: Real Estate Prep Guide
Posted on 26-May-2021
A building with a steakhouse on the first floor and offices on the second floor combine two separate uses, restaurant and office space. A shipping warehouse adjoining an office suite center combine a warehouse and office space. A religious prayer facility with residential housing above it combines a religious use with a residential use. An outlet center with clothing and furniture stores are similar commercial uses, so no mixed use exists. Julie is looking to buy her first home. She locates one and her offer is accepted. Julie applies for a mortgage.
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