The ______ protects consumers from unwanted email solicitations.
Anti-Telemarketer Act of 2000
CAN-SPAM Act of 2003
Do Not Call Implementation Act of 2003
Junk Fax Prevention Act of 2005
What is the process that gives home buyers detailed information about the overall condition of a home?
A bring down
Appraisal
Home inspection
Title search
In which of the following situations would an agent be representing a customer in a real estate purchase?
Any time
Never
When the agent has his broker’s permission
When the agent has his broker’s written and signed permission
You have clients who are interested in purchasing a property in a floodplain. As their agent, what do you want to ensure they are aware of?
That resale will be difficult because the home is in a floodplain.
The client will not need flood insurance.
The house most definitely has the potential for some kind of flood damage in the next 100 years.
Their lender may require flood insurance, which may affect the affordability of the home.
Leading up to closing, who should ensure that all deadlines are being met, all contingencies are cleared, and all paperwork is fully executed and delivered?
Buyer’s attorney
Real estate licensee
Seller’s attorney
The lender
What practice did the Fair Housing Act of 1968 attempt to eliminate?
Discrimination based on marital status
Discrimination based on sexual orientation
Discrimination based on source of income
Discrimination through blockbusting, steering, and redlining
What type of tenant uses a percentage lease most often?
Manufacturing
Residential
Retail
Triple net
Why was the Civil Rights Act of 1866 monumental among fair housing and anti-discrimination laws?
It abolished slavery.
It added sexual orientation as a protected class.
It provided no exceptions for discrimination based on race or color.
It was adopted by the United Nations.
Which of the following most closely describes a special exception to zoning?
A density regulation
An allowed use that would otherwise be prohibited by a zoning ordinance
An industrial permit
A variance in zoning requirements, such as a setback
What happens to a joint tenant’s share of property when the joint tenant dies?
The joint tenant’s interest goes to the remaining joint tenants. If only one joint tenant is left, that joint tenant owns the property in severalty.
The property must be sold, with the proceeds from the joint tenant’s share distributed to heirs.
The tenancy remains, but the joint tenant’s interest passes to heirs.
The tenancy terminates, and the joint tenant’s share goes to the state.
Your client exchanged one property for a similar property and did not have to pay capital gains taxes that year. How did he do this?
He did a tax-deferred exchange.
He didn’t convey the property.
He didn’t file his taxes correctly.
He didn’t sell the property.
How large is an acre?
10,000 square meters
43,560 feet
43,560 square feet
5,480 square feet
What is a capitalization rate?
The expected rate of return on investment
The rate at which assets depreciate over time
The rate of capital recapture
The value of a business as an investment
What happens when a married couple who owns a property as tenants by the entirety divorce?
Their ownership changes to tenants in common.
Their ownership rights terminate.
The one who records title first gets the property.
They become joint tenants with right of survivorship.
Who’s ultimately legally responsible for the activities of an unlicensed assistant working for a team?
The broker
The team lead
The team members
The unlicensed assistant