80%(45)36 out of 45 people found this document helpful
This preview shows page 9 - 14 out of 14 pages.
76- An MLO endorsement is required for a licensee who negotiates A loan for single family home 77- A loan converting two properties would be best be described as 78- The MLO endorsement to a license is a requirement of The Safe Act79- the right of rescission which applies to loans that place a lien on the borrower residence is affected 3 rd business day after signing 80- Exceptions to the licensing requirement of escrow companies include All of these 81- the brokers exemption to the escrow licensing requirements applies when the broker is s a principal in the transaction82- Escrow licensees are prohibited from
Doing any of these83- on a seller closing statement the sale listing commission to be paid toa broker would generally be a Debit to the seller84-An escrow has a duty to warn parties to the escrow of Both possible fraud and risk of transaction85- Standard policy of title insurance covers all ExceptRight of parties in position86- An extended coverage policy of title insurance covers all except Zoning regulation 87- Which tax would be most difficult to evade?Property88-The proposition which limits the basic tax levy to 1 percent of value is Proposition1389- A change-of- ownership statement must be filled within how many days of change of ownership?4590-Every residential homeowner is entitled to an exemption from the full cash value of 700091-As to depreciation for tax purpose, purchasers must now use
27.5 years for residential property 92- For a 1031 exchange to be valid All of these required 93- A residential homeowner can deduct which of the following from their total taxable income while figuring their tax bill?Both property taxes and interest payments94- which of the following advantages are offered by a commercial sale-leaseback to the seller-lessee?Both Lease payments are deductible business expenses and capital can be freed 95- Tax shelters refer to Income taxes96- the most abundant property type, subject to professional management,Residential 97- A lease for a definite time period would be An estate for years98- A lease whereby the tenant pays the landlord a set rent and also pay taxes, insurance, and other properties
None of these99- A lease whereby the landlord receives a set rent and the landlord pays property expenses is Gross lease 100- The Court action to evict a tenant known as A 30 day notice