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Our 23 course lesson plan emulates a college classroom. We added more information to reflect the recent changes in the law.
At the conclusion of each lesson plan, previous exam questions are used as homework and the instructor reviews the answers at the beginning of the following DVD.
Our students receive Members Only privileges for one semester. We made it easier to navigate and added more information. Key focus is on all major areas of the Exam where questions are derived.
Each Lesson has a homework assignment. If a student wants to increase their knowledge base, there is an optional interactive quiz on the same topic.
Prior to leaving on the business trip, the investor executes a document authorizing a trusted friend to sign all documents related to the sale of the commercial property.
After accepting the appointment, the investor's friend owes fiduciary duties to the investor. Of the following choices, what is the name of the document executed by the investor?
Contracts and Contract Law. Which of the following lists the essential elements of an enforceable real estate contract? A listing agreement did not include an authorization to accept a deposit.
Which of the following is correct? Real Property Characteristics. Which of the following is considered personal property?
Homeowner Howard's home was foreclosed. Understandably, Howard was quite upset, and just before he was ordered to vacate the home, he removed all of the plumbing fixtures, lighting fixtures and built-in appliances from the home.
When Howard's lender listed the property for sale, the listing agent realized that the fixtures had been removed.
What is the act of removing the fixtures from the home called? Water Law. Which of the following correctly defines the doctrine of prior appropriation?
Freehold Estates. The lessee of an apartment and the owner of a condominium have many things in common. Which of the following is true for both?
Holding and Transferring Title. The deed specified as grantees simply as "Amanda Smith, Beatrice Smith, and Constance Smith" but did not specify the tenancy created.
Environmental Law. A real estate licensee has out-of-town relatives come to visit. He shows them several listings, but they simply are not interested in purchasing any of the listings he shows them.
Finally, after several long days of viewing listings, the licensee writes up a lease proposal with an option to purchase.
When an environmental hazard such as mold exists on a subject property, a typical remedy to cure the defect is abatement of the defect. Land Descriptions.
Which of the following is the method of legal description that uses carefully measured distances, angles and directions to define the boundaries of a parcel of real estate?
Which of the following correctly defines the term "baseline"? Development and Construction. Which model of city planning and development is defined by a central business district is in the middle of the model, with the city expanding in rings with different land uses?
Which model of land development is based on the theory that even though a city may have begun with a central business district CBD , other smaller CBDs develop on the outskirts of the city near the more valuable housing areas to allow shorter commutes from the outskirts of the city?
Housing Plus, Inc. The company primarily assists those owners of dwellings in existing subdivisions that are sufficiently spacious to qualify for the addition of an ADU.
Home owners typically add an ADU for the enhanced rental potential the units add to residential real estate. But Housing Plus, Inc.
Which of the following describes the work of Housing Plus, Inc.? Tax Implications on Real Estate. What portion of the sales proceeds is taxable?
Two people, an investor and a business property owner, want to sell their properties to each other in a exchange. The investor owns a 10 acre parcel improved with an office building.
The business property owner owns a parcel of real estate improved with an apartment building. Here is the government survey system legal description for the realty owned by the business property owner: "The Northeast Quarter of the Northwest Quarter of the Southwest Quarter of Section Both properties have the same value, and neither property is encumbered with liens.
Which of the following is a correct statement? Federal Law. These types of agreements are considered anti-competitive because they conspire to establish dominance in a particular market.
Leases and Leasehold Estates. The "Statement of Purpose" section of a narrative appraisal report would contain which of the following?
Where in the range of market value, from low to high end, is a listing price likely to fall? Leverage: Lowest Spreads: 1. Alpari Broker 9. OctaFX Broker 8.
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If clients want to hold their positions overnight, the online broker will charge them so-called financing costs Swap fees.
The following example should make the swap fees at GKFX somewhat more transparent:. The financing costs for a holding period of 4 days would thus amount to 2.
The forex trading is meanwhile subject to a so-called swap rate , also known as short-term FX-swaps.
Here follows another brief example for calculating this swap rate. The financing costs for a holding period of 2 days would thus amount to 4.
To support their trading processes, GKFX also provides its clients with a range of analyses and tools. With this online broker, investors can principally rely on the functions of three analyses and four tools, which shall be briefly outline below.
This is where they will find many reports on current topics, clearly arranged and accessible to everyone free of charge.
Economic calendar In addition to this, GKFX also features an integrated Economic calendar that summarizes important events and filters them by relevance for the various markets.
Besides the daily market movements, the economic calendar also provides information on global business data, as well as historic publications.
Apart from this, GKFX also offers a subpage where the economic calendar and its services are explained in detail. The pack is available to all clients depositing 1, euros as a minimum.
The plug-in is easily installed directly in MetaTrader. No warranty expressed or implied. Related Posts. Press Release. Incorrect answer.
Please choose another answer. Control over real estate and land use by a government entity is called "public control.
The government's police power over real estate includes things like: zoning, building codes, city planning, public health, public safety, and general welfare.
Answer Choice "B" is a classic example of Police Power. Here, the city exercised its Police Power to enhance public health and safety--by separating the new residential area from industrial activity.
The state examiners frequently write questions trying to trick examinees into incorrectly lumping one of these other three powers into Police Power.
A is incorrect. A Special Weapons and Tactics SWAT team uses specialized equipment and tactics to respond to criminal activity posing an elevated risk to the public or to law enforcement personnel.
That's an entirely different type of "police power. Under the power of Eminent Domain, the government can take private property for public purposes e.
In contrast, the government would not typically have to pay owners if there is a decline in value due to a zoning change.
The state can exercise its power of Escheat when a parcel of real estate has been abandoned, or if the owner dies without a will and no heir can be found.
After 5 years, the real estate permanently escheats and belongs to the State of California. Test-Taking Tip: The state examiners may try to trick you into lumping one or more of these four, separate powers together.
Private control is exercised by a non-governmental entity. Private control usually "runs with the land.
The restrictions may be limited to a single parcel of land or they might cover an entire subdivision. In , in the landmark case of Shelley vs.
Kraemer, the U. Supreme Court held that the Federal Constitution prohibits racially-restrictive housing covenants in the United States.
Therefore, limiting the sale of real estate to certain races, even with the goal of promoting diversity, is an example of illegal private control.
Test-Taking Tip: Restricting the sale or rental of real estate on the basis of race is never legally permitted in the United States. A, B, and D are all common examples of lawful private controls.
In CA, an "implied agency" can be created unintentionally or by accident, and without any written formalities.
By guiding the prospective buyer on the negotiation tactics needed to purchase the Woodriver Drive property, the listing broker was engaging in the advisory conduct that should be reserved for clients, thus accidentally creating an implied agency relationship.
An express agency is created by the oral or written agreement of both parties. Here, the test question states that the subject of agency representation was never discussed.
An unintended or implied agency can be created during a casual conversation where names have not been exchanged. An agency relationship can be created without compensation being discussed, or without even the expectation of compensation.
This is one reason why real estate licensees do everything possible to prevent an implied agency: An implied agency can create fiduciary duties owed by the real estate professional before there is any type of agreement related to compensation.
Note: The listing broker was already the agent of the seller. By advising the prospective buyer and establishing an implied agency, the listing broker created an undisclosed dual agency with the seller and the prospective buyer.
An undisclosed dual agency is illegal, and will subject the listing broker to DRE discipline and the loss of any earned commission.
In CA, disclosure is a fiduciary duty owed by an agent to a principal. Here, the agent is the listing broker and the principal is the seller. The listing broker owes the seller the disclosure of relevant and pertinent information pertaining to the listing broker's duties.
One of the listing broker's duties is to counsel the seller as to a prospective buyer's ability to complete a sale. Information related to the delinquent child support must be disclosed by the listing broker to Jon Brown as it pertains to Samantha Southerland's financial ability to buy the condominium.
A, B, and D are incorrect. Real estate licensees owe both parties to a transaction the duties of honesty, good faith, fair dealing, and a full disclosure of all material facts related to the desirability or value of the property.
Test-Taking Tip: Be careful to distinguish "the fiduciary duty of disclosure" from the "disclosure of all material facts related to the property. The fiduciary duty of disclosure is not owed to an unrepresented member of the public.
In contrast, the "disclosure of all material facts related to the property" is owed by a real estate licensee to both parties in a transaction, and does not depend on an agency relationship.