Real Estate Test Prep

The colorless, odorless, tasteless radio active gas that can enter a home. Naturally occuring from the break down of soil.

What is an encumberance?

What is encroachment?

What agreement allows the use of a part of another person's property for a specific reason?

Complaints regarding a real estate licensee are directed to?

What are the fees associated with a salesperson disassociating from one broker and joining another?

What allows you to use your license in other select states?

How often must a salesperson license be renewed?

How many hours of continuing education are required to renew your sales person license?

How many hours of fair housing education are required per license renewal?

All ads placed by a real estate agent, whether sales person or broker, must contain the broker's name and telephone number. Ads that do not have this information are considered...?

If someone tries to reward you with something having cash value and it does not go through your broker, it is illegal and called a

Which document must a seller of residential property complete that highlights the current physical state of the property and cannot be changed once completed?

How long does a licensee have to transfer their license after their broker dies?

If a seller decides not provide a Property Condition Disclosure, they must deduct how much from the agreed upon purchase price?

After a license is revoked, one must wait how long before reapplying?

Paying someone that is not licensed, for helping secure a deal is called

If your commission is determined by whatever is left over from a sale after the seller recieves a predetermined amount, this is what type of illegal listing?

The approval of an act, although not authorized at the time it was performed is known as

The certificate that prevents a person from takng a stand against or asserting facts that are inconsistent with previous actions or statments

The point in time when an agent meets the client or customer face to face

At First Sustantive Contact, which document should be signed by both the agent and the client or customer?

Which reguation requires agents to make clear who they are working for?

What is the minimum amount of time an agent should keep documentation relating to their transactions?

A property where a death, homicide, or illegal activity has taken place and is not required for the agent to disclose it is called a

If a buyer would like information regarding a stigmatized property, what should the agent recommend

In what year was Megan's Law passed?

What is the name of the law that requires the names and addresses of sex offenders to be made public?

Bed Bug Disclosure forms shall always be given when

Which act states that a broker can request their commission be placed into a seperate account by the client?

The Commission Escrow Act went into effect on what date?

How long can a commission sit in an escrow account before the seller can reclaim it?

What are the three core anti-trust laws in effect today?

Which type of easement involves two seperately deeded lands?

If a person has multiple liens on their property, in which order are they paid?

A part of a person's land is being occupied, with their knowledge, for 10 years or more. The person using the land can claim an

A general lien targets?

A specific lien targets?

Attachment liens, ordered by the court, prohibit?

A title by prescription, similar to an easement by prescription, is also known as

This document shows that a person has an interest in a piece of real property

This document shows that a person owns a piece of real property

Does the buyer need to sign a deed?

Which deed shows the strongest form of ownership?

What is consideration?

The legal description of a property does what?

What is the name of the system a surveyor uses to identify the boundaries of a piece of property?

What is POB and what is it used for?

The transfer of land through a will is to ?

If a person dies without a will, in what order is the property distributed?

What is it called when a person should know something even if they do not?

What is it called when a person actually knows something through either hearing it, seeing it, reading ect?

The chronological, summarized history of a title is referred to as

Title insurance does what?

Settlement statements, which are tpically prepared by the buyer's and seller's attorneys or bank representatives, itemized all of the expenses involved in closing a realestate transaction. What is the name of the required form used to accomplish this?

Typically all closing costs are paid by the buyer except?

The division of expenses between the buyer and the seller is called

The rights that come with real property ie. air rights, water rights ect are called

Bundle of rights includes:

Riparian rights involve?

Littoral rights involve?

Percolating rights involve?

When personal property is physically attached becoming a part of the real property, the process is called

When property attached to a piece of real propery is detached making it personal property, this porcess is called?

Plants that grow seasonally on a piece of real property is called fructus industriales or?

Personal property is also known as

When personal property is shown, ownership is conveyed through a?

Proof that a person owns a piece of personal property is shown through a?

If a person has a piece of collateral, but instead of giving it to the lender, they keep it and a lien is placed on the property, this is called?

A possesory interest in a piece of real proeprty with no known end date is called?

A freehold estate that lasts only as long as the tenant lives is called?

A life estate that is measured by the duration of a non-tenant's life is called?

Teanacy by the entirety involves just two co-owners that are?

The difference between a C Corportation and a Subchapter S Corportation is

Power of escheat states?

The governments constituational power to appropriate land for public use is called

The document that identifies the goals, objectives ect for the growth and development of a community is called a

The study of social and economic status of a given area is called?

A city's support facilities and services, inclusing roads, parks, sewers, schools, police and fire protections is known as its?

The physical characteristics of a parcel of land is called

What allows landowners to use their land in a way that is not permitted by zoning regulation?

Name the two types of variance.

The documents explaining the requirements for the scope of work for construction, including materials, are called?

The underground base, usually made of concrete, that supports a foundation is called a

Concrete foundation that is built directly on the ground is called

A measure of the force that pushes electricity through a wire is called?

The amount of electricity flowing through the wire is measured in

The amount of power consumed in measured in?

Most building codes require kitchens and bathrooms to have specificaly grounded outlets that shut off power when the appliance gets wet or shorts. These outlets are called?

Aluminum cabling was?

The National Enviornmental Policy Act was enacted in

Comprehensive Enviornmental Response, Compensation and Liability  (CERCLA) addresses what?

The colorless, odorless, natural biproduct of fuel combustion, is known as

Lead Bsed Paint Hazards Disclosure Forms must be given to renters or buyers of property built before?

Does NY state have a disclosure policy for mold?

Another word for location is

The opinion of the value of a property based on objective data is called an

Appraisers value property using which three methods?

The combining of lots is called?

The amount a property will most likely sell for is the?

A transaction in which all parties were strangers and acting in their own best interest is called an?

When a particular home achieves its maximum value when surrounded by similar homes, this is called

When  a particular item in a home is worth what it actually contributes in value, this is its

CMA stands for

Area of a rectangle is determined by?

Area of a triangle is determined by?

How many square feet are in an acre?

How to you determine the volume of a space? What is the unit of measurement?

The amount remaining in a loan is called?

What is the name of the law and year passed, that prohibits any types of descrimination based on race or color?

Which law prohibits descrimination on the basis of color, race, religion or national origin when selling or leasing rental property?

Plessy vs Ferguson ruled that?

Which supreme court decision ruled that seperate isn't equal?

There was an amendment to the Federal Fair Housing Act in 1988 that protected which two groups?

Buildings built after March 13, 1991 must meet what standards?

Blockbusting, also known as panic selling or panic peddling is what?

What is it called when a commercial lender discriminates against race, religion ect.

Which Act covers everything that the amendent to the Federal Fair Housing Act does not cover in realtion to the disabled?

Which law covers all groups against decrimination in all facets of living?

Cease and desist zones prohibit what?

When a type of consideration prohibits someone from doing something, this is called

The Plain-language requirement, also known as Sllivan's law states

Which clause allows for the freeing of a protion of the property from the mortgage once a predetermined amount is paid?

substantial performance is?

Material breach is?

The substitution of an old contract for a new contract, or the substitution of one party for another is referred to as

Earnest money is?