Author: Anonymous

63. A car dealer promises to give $5,000 bonus to the first salesperson who sells 10 cars this week. Which type of contract is this?

33. Which feature applies to the lender’s (mortgagee) title insurance policy?

100. A residential zoning category requires at least 12,000 square feet per lot. The developer is reserving 25% of the land to streets, sidewalks, and a community center. The track of land for development consists of 150 ccres. How many residential lots are available for development ?

86. Which statement regarding state intangible taxes on new mortgages is TRUE?

78. Which document must a prospective buyer of an existing (resale) condominium unit receive?

54. A type of real estate investment that offers diversification and liquidity and that is similar in form to a mutual fund is called

81. Which legal procedure is used to determine a fair price in an eminent domain action?

21. Which statement is FALSE regarding postdated earnest money checks?

90. A prospective purchaser of a residential condominium unit sends written notification to the listing broker stating her desire to cancel the contract within the allowable rescission period. The seller instructs the broker to retain the earnest money deposit as liquidated damages. The broker is legally authorized to

87. Which valuation product requires the services of a licensed or certified appraiser ?