Gold Coast Final Exam Questions and CorrectCorrect Answerwers Latest Version 2023 2024 Guaranteed Success
- main deductions of home owners -Correct Answer mortgage interest and property
taxes
A developer is sending out keys to people to view a home they building, and says if their key fits they are gifted a home, is this promotional give aways legal? -Correct Answer yes
A pawn shop in an area not zoned -Correct Answer nonconforming use
A tenancy for years should include a -Correct Answer specified period of time
all ways pick mortgagor -Correct Answer to the mortgagor
Amount received/paid in a transaction is called ? -Correct Answer price
Broker deposits $10,000 of personal funds into escrow account, what is he guilty of ? - Correct Answer commingling
Clause in mortgage that gives the mortgagee the right to increase interest rate ? - Correct Answer accelerator clause
court house, airports, and schools -Correct Answer immune properties for taxation
Deposits is a form of... -Correct Answer valuable consideration
Entities that CANNOT be brokers -Correct Answer corporation sole
Equally desirable property for less -Correct Answer principal of substitution
Exclusive right of sale -Correct Answer seller pays commission no matter what
Expenses are always ... -Correct Answer debits
Failing business that is not expecting to continue for business ? -Correct Answer liquidation value
FHA ratios -Correct Answer 31 and 43
How many acres in one quarter of a section ? -Correct Answer 160
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How much time do you have to notify when you are transferring out of state ? -Correct Answer 60 days
If the seller changes mine about selling house and tells buyer they can have their deposit back but the buyer refuse the deposit what is the buyer looking to do ? -Correct Answer suit for performance
If your a single agency broker works for who ? -Correct Answer principal/client
If your a transaction broker works for who ? -Correct Answer customer..
In Lien theory state who holds the title ? -Correct Answer mortgagor
In litigation how is a escrow dispute handled ? -Correct Answer bill of interpleader
Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both -Correct Answer Yes
Limited representation of a buyer or seller -Correct Answer transaction Broker
Neighbor bringing the value of a home down -Correct Answer external obsolescence
No firm name in advertisement -Correct Answer blind ad
Out of state broker sends a customer, and had no part in the transaction and requests a referral fee, should he expect a commission ? -Correct Answer yes.
Physical land and improvements -Correct Answer real property
Rate of State Stamp Documentary Tax on Deed ? -Correct Answer $.70 cents per 100$
Sales associate quits before sale closes and request to have commission, but the broker refuses. what can the sales associate do ? -Correct Answer sue the broker
Seller keeps the deposit -Correct Answer liquidated damages
Sidewalks gets paid before the IRS is an example of a .. -Correct Answer special assessment
Single Agent that represents both seller and buyer ? -Correct Answer dual agency
Someone gives you a property to enjoy till you die is what type of estate ? -Correct Answer life estate
T/F A broker can have an office an office in a motorhome -Correct Answer false
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