my real estate school: practice final

my real estate school: practice final

exam Questions and Answers (Solved Papers) To net an owner $900,000 after paying a 6% commission, the list price would be

• $954,050.
• $959,060.
• $957,447.
• $960,000. - Correct Answers ✅c. $957,447.

A recorded subdivision plat is used in the

• lot and block system.
• geodetic survey system.
• rectangular survey system.
• metes and bounds system. - Correct Answers ✅a. lot

and block system.Zoning authority comes about through

• police powers of the municipalities.
• the Alabama Constitution.
• delegation of state powers to the cities.
• the social contract between citizens and their government.
• Correct Answers ✅a. police powers of the municipalities. 1 / 4

my real estate school: practice final

exam Questions and Answers (Solved Papers) Charges have been filed against a salesperson. The Commission will contact the licensee by

• certified mail at the licensee's last known business

address.

• mail to the licensee's home address.
• telephone.
• appointment with the licensee at licensee's office. -

Correct Answers ✅a. certified mail at the licensee's last known business address.The owner of a house wants to fence the yard for her dog.When the fence is erected, the fencing materials are converted to real estate by

• annexation.
• severance.
• immobility.
• indestructibility. - Correct Answers ✅a. annexation.

An Alabama surgeon and his wife wish to purchase a home and hold title in a manner that protects the marital home in 2 / 4

my real estate school: practice final

exam Questions and Answers (Solved Papers) case the husband is sued for malpractice. Which form of ownership will allow them to do this?

• Joint tenants with right of survivorship
• Tenants in common
• Tenants by the entireties
• Tenants in common with right of survivorship - Correct

Answers ✅d. Tenants in common with right of survivorship Megan's Law requires that certain sex offenders, when released from prison, register where they live with the

• Alabama Real Estate Commission.
• Alabama Association of REALTORS®.
• governor's office.
• Alabama Public Safety Department. - Correct Answers

✅d. Alabama Public Safety Department.A home mortgage loan closed on July 1 for $765,000 at 5.5% interest amortized over 25 years at $4,697.77 per month.Using a 360-day year, what would the principal amount be after the monthly payment was made August 1?

• $764,936.30 3 / 4

my real estate school: practice final

exam Questions and Answers (Solved Papers)

• $764,106.25
• $754,275.00
• $763,808.48 - Correct Answers ✅d. $763,808.48

Charlene has lived in her home for 10 years and has a son who is about to start college. To obtain funds to pay for her son's schooling, Charlene might use a(n)

• open-end loan.
• home equity loan.
• wraparound loan.
• participation mortgage. - Correct Answers ✅b. home

equity loan.Rights or privileges that are connected with real property are

• improvements.
• appurtenances.
• not conveyed with the real estate.
• restricted to air and water rights. - Correct Answers ✅b.

appurtenances.

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