practice exam #2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Describe syndication + who benefit from it? | show 🗑
|
||||
| show | A misdemeanor
🗑
|
||||
| Which penal code section addresses the crime of bribery of a lender to obtain credit | show 🗑
|
||||
| To be exempt to the federal fair housing laws concerning age and family status a retirement community MUST have ___% of the dwellings with one person who is __years old or older and INCLUDE ______ for the elderly residents. | show 🗑
|
||||
| show | Southern,Ca splits them 50-50 + Northern,Ca the buyer usually pays the escrow service fees
🗑
|
||||
| What is the California Statute of Limitations on bringing a court foreclosure to enforce a mechanic's lien? To bring action for removal of encroachments? | show 🗑
|
||||
| After receiving notice of a lump sum of $11,257 due to pay off a mortgage loan. Which type of promissory note has Caroline NOT been paying? and why? | show 🗑
|
||||
| show | 10% of the principal of the loan.
🗑
|
||||
| A valid joint tenancy is said to require the "4 unities"aka fourfold unites characteristics which are? | show 🗑
|
||||
| show | Determining how you will ”Hold the Tittle” and it outlines the type of ownership rights a person has on a property + The seller has the absolute right of title as well as ownership rights and able/willing to convey them
🗑
|
||||
| When an owner dies without a will or heirs what term describes that? what happens to the property and why? | show 🗑
|
||||
| Define Fee Simple Defeasible estate. What happens if the terms are not met? | show 🗑
|
||||
| show | Absolutely ownership.....(The greatest and highest property ownership. The right to have you can do WHATEVER you want with this leasehold estate)
🗑
|
||||
| show | Easton v. Strassburger -- A real estate broker employed by the seller (MUST disclose Material Facts) affecting the value of the property after carefully inspecting the property to be sold/listed
🗑
|
||||
| show | Transaction Value up to $250,000 + 200 hours of appraiser education is required.
🗑
|
||||
| show | (V.A.C.T) 1.)Value range 2.)Area Zoning 3.)Condition 4.)Type of property
🗑
|
||||
| show | It is considered a -Mortgage Financing Alternative- + Because the purchase of the land ISN'T actually being financed, its being taken care of by cash obtained from the sale of stock. (The sale of stock is considered a Mortgage Financing Alternative)
🗑
|
||||
| show | 1.)Legally Competent Parties 2.)Offer and Acceptance 3.)Consideration 4.)Legality of Object
🗑
|
||||
| What is a purchase-money mortgage AKA Land Contract? | show 🗑
|
||||
| show | If the licensee routinely assists sellers in DETERMINING whether a proposed buyer in a land contract or purchase-money mortgage is creditworthy.
🗑
|
||||
| Is it Northern or Southern CA the bilateral escrow instructions are signed by the buyer and seller shortly after they've signed their purchase agreement, just after the start of escrow, which is approximately 30 to 60 days prior to the close of escrow? | show 🗑
|
||||
| show | In Southern,CA escrow services are usually performed by Independent Escrow Companies or Financial Institutions + Northern,CA the escrow services are usually performed by Title Insurance Companies
🗑
|
||||
| What are the 3 types of legal Life Estates + Definitions? | show 🗑
|
||||
| Give 3 examples of forms of syndication... | show 🗑
|
||||
| John and Tom are purchasing their dream home. Due to the expiration of escrow instructions, the escrow has been terminated. Have they lost the contract on the house of their dreams??? | show 🗑
|
||||
| What is the significance of the Cohen v. Shearer case? | show 🗑
|
||||
| What form of illegal discrimination is the process by which Banks and other institutions Refuse to offer mortgages or offer worse rates to customers in certain neighborhoods Based on their racial and or ethnic composition?? | show 🗑
|
||||
| What form of illegal discrimination is the practice of persuading owners to SELL their property cheaply because of the fear of people of another race or class moving into the neighborhood.(And then Profiting by res$elling at a higher price)??? | show 🗑
|
||||
| What form of illegal discrimination is the practice of nudging buyers Away or Toward a specific area... Based on their race,religion, national origin, or ancestry | show 🗑
|
||||
| What are the requirements for converting a mobile home into Real Property? | show 🗑
|
||||
| show | Northern CA
🗑
|
||||
| show |
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
Mahzel