Questions and Answers to Help You Pass the Real Estate Exam

by Reilly, John W.; Vitousek, Paige Bovee

• ISBN13: 9781419500923
• ISBN10: 1419500929
• Edition: 7th
• Format: Paperback
• Copyright: 2005-05-20
• Publisher: Kaplan

Summary

By giving students practice answering questions similar to those found on real estate exams, this bestselling exam guide is specifically designed for real estate students who want to pass their licensing exams on the first try. With over 1,800 questions, including 80 item sample broker and salesperson exams and three 80 item review exams, this book is intended for individuals preparing for salesperson and broker licensing exams. It is geared toward the ASI exam, but is designed to be used to study for exams administered by any of the testing services such as: ASI, AMP, PSI, Experior (formerly NAI) and self testing states (CA, ME, MS, NY, NC, OH, OK, OR, SC, WV).Detailed explanations, in the answer key at end of each chapter, provide a rationale as to why a given answer is correct, giving students the needed information to handle any type of question on any topic. This key feature, not found in many other exam guides, makes the book equally helpful to students preparing for any type of real estate exam.

Table of Contents

Introduction	v
Acknowledgments	xiv
About the Authors	xv
PART A Real Property and Laws Relating to Ownership	1	(70)
Forms of Ownership	3	(12)
Interests in Real Property	15	(14)
Condominiums and Cooperatives	29	(10)
Encumbrances: Easements, Restrictions, and Liens	39	(12)
Governmental Limitations: Zoning and Eminent Domain	51	(8)
Land Description	59	(12)
PART B Valuation of Real Estate	71	(30)
Appraisal	73	(18)
Taxes and Assessments	91	(10)
PART C Financing of Real Estate	101	(48)
Sources of Financing: Conventional, Governmental, and the Secondary Mortgage Market	103	(24)
Mortgages and Foreclosures	127	(22)
PART D Transfer of Property Ownership	149	(40)
Acquisition of Title: Deeds	151	(14)
Settlement Procedures: Escrow, Evidence of Title, and Recording	165	(16)
Real Estate Settlement Exercises	181	(8)
PART E Real Estate Brokerage	189
Agency and Business Ethics	191	(16)
Listings	207	(14)
Sales Contracts and Options	221	(26)
Federal Fair Housing, Truth-in-Lending, the Do Not Call Registry, and Environmental Disclosures	247	(20)
Property Management, Lease Agreements, and Securities	267
APPENDIXES
Appendix A. Real Estate Mathematics	293	(26)
Appendix B. Salesperson's Practice Final Examination	319	(6)
Appendix C. Broker's Practice Final Examination	335	(16)
Appendix D. Review Exams	351