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Questions Flashcards

1
Q

Zoning board Of appeals issues what kind of permits?

A

Variances and special use permits

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2
Q

Who licenses mortgage brokers?

A

The license is issued by the department of finance. 

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3
Q

Who can obtain a VA loan?

A

Veterans or spouses of a deceased veteran. 

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4
Q

When selling a house in Nevada is it necessary to disclose that there is a utility charge?

A

Yes

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5
Q

When sales person Kate James left Hudson realty to work with Fern hallow realty what happens to her listings?

A

They remain with Hudson Realty

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6
Q

When is registration with the Banking Department necessary?

A

To negotiate a mortgage loan on residential property (one to four family building).

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7
Q

When is a deed valid?

A

Once it is delivered and accepted.

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8
Q

What kind of lease allows the Lessee to pay for all are some of the expenses of a property?

A

Net lease

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9
Q

What is Usury?

A

Charging more than the legal interest-rate.

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10
Q

What is the civil rights act of 1866?

A

Prohibits any type of discrimination based on race.

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11
Q

What are blind ads?

A

When the real estate broker fails to indicate that they are brokers.

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12
Q

What happens if I do not renew my license?

A

You cannot connect any real estate activities that require a Nevada state real estate license.

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13
Q

Violation of the license law is a misdemeanor with a sign up to?

A

$1,000

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14
Q

Under the general obligations law, where my security deposits paid by a tenant beheld?

A

Escrow account

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15
Q

To obtain a sales person license, how old must an individual be?

A

18

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16
Q

To create an agency relationship, it is necessary that…

A

The parties act is principal and agent.

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17
Q

The type of mortgage loan that has an interest rate that may increase or decrease at different times in accordance to an economic indicator.

A

ARM (adjustable rate mortgage)

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18
Q

The right of a government or its agent to expropriate private property for public use, with payment of compensation.

A

Eminent domain

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19
Q

The practice of denying, or charging more for a loan in certain locations.

A

Redlining

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20
Q

The listing sales person must accept compensation directly from there…

A

Employing broker

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21
Q

The Jacksons sold their house to the Andersons an hour to close on August 1. The Jacksons pay their annual town taxes in January. At the closing, the Andersons will reimburse Jaxtons for…

A

The tax for the balance of the year

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22
Q

The document used to convey title legally to real property

A

Deed

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23
Q

The borrower in a mortgage?

A

Mortgagor

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24
Q

The active either; replacing an obligation to perform with a new obligation or adding an obligation to perform or replacing a private party to an agreement with a new party.

A

Novation

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25
Q

Sky Realty is worried that it’s commission on a cell will not be paid. Sky Realty may…

A

File an affidavit of entitlement

26
Q

RESPA Prohibits the payment of?

A

Kickbacks

27
Q

Land-use is regulated by?

A

Subdivision regulations

28
Q

John is a broker and he accepts a $4000 deposit. What should he do with it?

A

Place in his escrow account immediately.

29
Q

John Banks gave star realty in exclusive agency listing on her property. if she sells the property herself without involving star realty, he will all star realty how much?

A

No commission

30
Q

Is the department of Veterans Affairs mortgage a guarantee loan program?

A

Yes

31
Q

Is a sales person that is also an independent contractor paid commission based on sales results?

A

Yes

32
Q

Is a real estate license needed in Nevada to sell land at an auction?

A

Yes

33
Q

Is a net listing legal in Nevada?

A

Yes

34
Q

Is a barn considered chattel?

A

No

35
Q

Insures loans protect lenders against financial loss.

A

FHA

36
Q

In order for a licensee to become partners any real estate firm, what license mess he or she has

A

Brokers license

37
Q

In a buyer/agency relationship, the broker of the seller

A

Fair and honest dealing

38
Q

If your license is revoked, how long must you wait before applying to have a license reinstated?

A

One year

39
Q

If you purchase land or property on a stream, did you have rights to the stream known as?

A

Riparian rights

40
Q

Is asbestos is in an area that is not disturbed is it sometimes best to leave it alone?

A

Yes

41
Q

If a real estate broker earn a commission of $6000 at a commission rate of 6% at what price was the property sold?

A

$100,000

42
Q

If a property lies in an agricultural district, is a licensee required to disclose that information to a potential buyer?

A

Yes

43
Q

If a lessee transfers all the remaining interest of his lease to another party, who then must pay the owner is called an?

A

Assignment

44
Q

How many years of experience as a sales person do you need to be a licensed broker?

A

2 years

45
Q

Highest form of legal estate in freehold land noting complete ownership

A

Fee simple

46
Q

Guiding perspective homebuyers toward or away from certain neighborhoods based on their race

A

Racial steering

47
Q

Electrical systems are routed through a…

A

Circuit box

48
Q

Does a real estate management company need a real estate brokers license?

A

If you collect rent or place tenants in vacant spaces on behalf of your landlord client, the answer is yes

49
Q

Does a new construction need a certificate of occupancy when the building permit has already been issued?

A

Yes

50
Q

True or false. Deed restrictions could only be established by the grantor

A

True

51
Q

Contractual arrangement calling for the Lessee (user), to pay the lessor (owner) for use of an asset.

A

Lease

52
Q

Can an unlicensed assistant make a listing presentation?

A

No

53
Q

Can a sales person accept compensation from the sponsoring broker?

A

Yes

54
Q

Can a flip tax be imposed on a cooperative property?

A

Yes

55
Q

Business practice of US real estate agents and building developers meant to encourage white property owners to sell their house is at a loss

A

Blockbusting

56
Q

Are blind ads legal?

A

No

57
Q

An exchange of promises in which the terms by which the parties agree to be bound declared either orally or in writing, or a combination of both, at the time it is made.

A

Express contract

58
Q

An examination of the prices I wish similar properties in the same area recently sold

A

Comparative market analysis

59
Q

True or false. An encumbrance is a right to interest in, or legal liability on real property that does not prohibit passing title to the property but that diminishes its value

A

True

60
Q

An apartment information vendors licensed by…

A

Department of banking and insurance

61
Q

An agreement created by actions of the parties involved, but it is not written or spoken.

A

Implied contract

Sample Questions (1 decks)

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