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Perry Real Estate Final Exam Testbank 300 includes accurate and verified questions covering key topics required for licensure, such as property ownership, contracts, real estate law, financing, agency relationships, fair housing, and state-specific regulations. Ideal for students preparing to pass their real estate licensing exam through Perry Real Estate School.
A small office building sold for $949,000 and the broker received a commission of $54,990. What was the broker's commission rate?-7% -6.2%
-11.3%
-5.8% - ANSWER-5.8%
A lease should contain all of the following provisions EXCEPT -possession of the premises -use of the premises -term of the lease -sale and leaseback clause - ANSWER-sale and leaseback clause 1 / 4
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All of the following would affect demand EXCEPT -population -fiscal policy -wage levels -demographics - ANSWER-fiscal policy
All of the following are true regarding public records EXCEPT -they provide constructive notice about interests in the property -they guarantee marketable title -they establish priority of liens -they give notice of encumbrances - ANSWER-they guarantee marketable title
A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front foot. How much money would a salesperson receive for her 60% share in the 10% commission? - ANSWER- $960
The commission is made up of the following:
-4 brokers and 1 consumer 2 / 4
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-6 brokers and 1 consumer -1 consumer and 6 brokers -4 consumers and 1 licensee - ANSWER-6 brokers and 1 consumer
All of the following would acquire title to real property
EXCEPT
-the grantee -the lessee -the devisee -the vendee - ANSWER-The lessee
All of the following are required for a deed to be valid EXCEPT -date -name of the grantee -legal description -signature of the grantee - ANSWER-signature of the grantee
a lease that will terminate within one year of its inception -may be oral -must be in writing 3 / 4
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-violates the provisions of the statue of frauds -is invalid - ANSWER-may be oral
all of the following are true regarding public records EXCEPT -the provide constructive notice about interests in the property -they give notice of encumbrances -they guarantee marketable title -they establish priority of liens - ANSWER-they guarantee marketable title
The Commission is charged with determining if a license
applicant meets all of the following criteria EXCEPT:
-trustworthy -honest -competent to protect the public -never been adjudicated bankrupt - ANSWER-never been adjudicated bankrupt
The principal difference between an estate for years and an estate from year to year is that -an estate from year to year has no expiration date
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