Real Estate Übungstest (USA)

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1. 1. Which of the following is a private land use control rather than a government power?

   • A. A city zoning ordinance
   • B. A recorded deed restriction in a subdivision
   • C. The power of eminent domain
   • D. The annual real property tax
   Antwort und Erklärung zeigen

   Antwort: B. A recorded deed restriction in a subdivision

   Deed restrictions, sometimes called covenants, are created by a private owner or developer and recorded against the land, and neighbors or an owners association enforce them in court. Government controls come from the four public powers, usually remembered as police power, eminent domain, taxation and escheat. Zoning is an exercise of police power, and it is set locally, so what is allowed on a lot varies from town to town. When a private restriction and a zoning rule disagree, the stricter of the two controls what the owner may actually do.

2. 2. Which method of legal description identifies a parcel by referring to a map recorded in the public records?

   • A. Metes and bounds
   • B. The rectangular government survey
   • C. Lot, block and subdivision
   • D. The property's street address
   Antwort und Erklärung zeigen

   Antwort: C. Lot, block and subdivision

   The lot and block method, also called the recorded plat method, points to a subdivision map on file with the county and names the lot and block on it. Metes and bounds walks the boundary from a point of beginning using distances and directions, and it must close back where it started. The rectangular government survey divides land into townships and sections, where one section is one square mile and contains 640 acres. A street address is never a legal description, because addresses get reassigned and do not fix a boundary.

3. 3. A homeowner holds a recorded right to cross her neighbor's land to reach her garage. The parcel that benefits from that right is called:

   • A. The dominant tenement
   • B. The servient tenement
   • C. An easement in gross
   • D. A license
   Antwort und Erklärung zeigen

   Antwort: A. The dominant tenement

   In an easement appurtenant there are two parcels: the dominant tenement gets the benefit and the servient tenement carries the burden. Because the easement attaches to the land rather than to the person, it normally passes to the next owner of each parcel automatically. An easement in gross benefits a person or a company instead of a parcel, which is how utility lines are usually held. A license is only permission, it is personal and it can be revoked, so it is much weaker than an easement.

4. 4. Several claims are recorded against the same property. Which one generally takes priority over the others regardless of when it was recorded?

   • A. A recorded first mortgage
   • B. A mechanic's lien filed last year
   • C. An unpaid general real property tax lien
   • D. A judgment lien from a lawsuit
   Antwort und Erklärung zeigen

   Antwort: C. An unpaid general real property tax lien

   Most liens rank by the date they were recorded, first in time being first in right. Real property tax and special assessment liens are the standard exception, because they are given priority by statute and jump ahead of earlier recorded claims. Tax liens are also specific liens, meaning they attach to one identified parcel, while a judgment lien is general and attaches to everything the debtor owns in that jurisdiction. The exact ranking below taxes is set by state law, so check your own statute for where mechanics liens fall.

5. 5. An owner hires a property manager under a written management agreement to run an apartment building. What is the manager's relationship to the owner?

   • A. An independent vendor who owes the owner no fiduciary duties
   • B. A general agent, authorized to handle a continuing series of transactions
   • C. A special agent, authorized for one transaction only
   • D. A trustee who holds legal title to the building
   Antwort und Erklärung zeigen

   Antwort: B. A general agent, authorized to handle a continuing series of transactions

   A property manager acts for the owner over and over, signing leases, collecting rent, hiring repairs and paying bills, so the agreement creates a general agency with full fiduciary duties. A listing broker is the classic special agent, hired for one transaction with narrow authority. The manager's job is to produce the best net operating income the property can sustain while keeping it in good physical condition, and both halves of that matter. Tenant screening, advertising and rules must follow the federal Fair Housing Act exactly the way a sale must.

6. 6. What does the statute of frauds require before a contract for the sale of real property can be enforced in court?

   • A. It must be notarized
   • B. It must be recorded before closing
   • C. It must be in writing and signed by the party being held to it
   • D. It must be signed in front of two witnesses
   Antwort und Erklärung zeigen

   Antwort: C. It must be in writing and signed by the party being held to it

   Every state has a statute of frauds, and real estate sale contracts are on the list of agreements it requires to be written and signed. Writing is on top of the ordinary elements of a valid contract: mutual assent through offer and acceptance, consideration, legally competent parties and a lawful object. Notarizing and recording serve other purposes, mainly proving a signature and giving public notice, and neither is what makes the promise enforceable. Some states add their own formalities for particular documents, so follow the forms your prelicense course gives you.

7. 7. A buyer submits a written offer. The seller changes the closing date, signs the changed document and returns it. What is the legal effect?

   • A. The seller has made a counteroffer, and the buyer's original offer is no longer open
   • B. The seller has accepted, and a binding contract now exists on the buyer's terms
   • C. The original offer stays open, and the buyer must go through with the purchase
   • D. Nothing happens, because only the buyer may propose terms
   Antwort und Erklärung zeigen

   Antwort: A. The seller has made a counteroffer, and the buyer's original offer is no longer open

   Acceptance has to mirror the offer exactly. Any change in terms is a counteroffer, which rejects the original offer and puts the seller in the offering position, so the buyer is now free to accept, counter again or walk away. That is why sellers who counter can lose a buyer who has since found another house. Contingencies work differently: a financing or inspection contingency written into an accepted contract keeps the contract alive but lets the named party exit or renegotiate if the stated condition is not met by the deadline.

8. 8. Which statement describes a deed of trust?

   • A. It transfers ownership of the property to the lender at closing
   • B. It is a lease that gives the tenant an option to buy
   • C. It is a two party instrument in which the lender takes possession of the property
   • D. It is a three party instrument in which a neutral trustee holds title or the power of sale until the debt is paid
   Antwort und Erklärung zeigen

   Antwort: D. It is a three party instrument in which a neutral trustee holds title or the power of sale until the debt is paid

   A mortgage names two parties, the borrower as mortgagor and the lender as mortgagee. A deed of trust names three: the borrower as trustor, the lender as beneficiary and a neutral trustee who holds bare legal title or the power of sale and reconveys it when the loan is paid. Which instrument is used, and whether the state follows title theory or lien theory, is decided by state law, and it drives how foreclosure works there. In either arrangement the borrower keeps possession and the right to use the property while paying.

9. 9. A title company offers a brokerage a fee for every buyer the brokerage sends its way. Which federal law does that arrangement run into?

   • A. The Truth in Lending Act
   • B. The Americans with Disabilities Act
   • C. The Fair Housing Act
   • D. The Real Estate Settlement Procedures Act
   Antwort und Erklärung zeigen

   Antwort: D. The Real Estate Settlement Procedures Act

   RESPA governs settlement services on most residential mortgage loans, and it prohibits giving or accepting anything of value for referring settlement service business, including title work, appraisals and insurance. It also drives the Loan Estimate and Closing Disclosure timing that borrowers see. The Truth in Lending Act is about disclosing the cost of credit, mainly the annual percentage rate and the finance charge, and about advertising rules. Nothing here is legal advice, and RESPA enforcement questions belong with a lawyer or your state commission.

10. 10. Which of the following are duties a listing agent owes to the seller who is the agent's client?

    Wähl alles aus, was zutrifft.

    • A. Obeying the client's lawful instructions
    • B. Keeping the client's finances and motivation to sell confidential
    • C. Guaranteeing the property will sell for the asking price
    • D. Accounting for every dollar of the client's money handled by the brokerage
    • E. Concealing a known material defect from the buyer if the seller asks
    • F. Deciding which offer to take without telling the seller the others exist
    Antwort und Erklärung zeigen

    Antwort: A. Obeying the client's lawful instructions, B. Keeping the client's finances and motivation to sell confidential, D. Accounting for every dollar of the client's money handled by the brokerage

    The classic fiduciary duties are obedience, loyalty, disclosure to the client, confidentiality, accounting and reasonable care. Obedience stops at the law: an instruction to hide a known material defect or to discriminate is one the agent must refuse, and in most states known material defects about the property have to be disclosed to the buyer as well. No agent can promise a sale price, because the market sets it. Presenting every offer is a core duty, since only the seller decides which one to take.

11. 11. Which of the following are protected classes under the federal Fair Housing Act?

    Wähl alles aus, was zutrifft.

    • A. Occupation
    • B. Familial status, meaning households with children under 18
    • C. Source of income
    • D. National origin
    • E. Disability
    • F. Level of education
    Antwort und Erklärung zeigen

    Antwort: B. Familial status, meaning households with children under 18, D. National origin, E. Disability

    The federal list is race, color, religion, sex, national origin, familial status and disability, and HUD applies sex to include sexual orientation and gender identity. Occupation, source of income, marital status and age are not on the federal list, but many states, counties and cities add them, so your state portion may treat them as protected where you practice. Disability also brings affirmative obligations, including allowing reasonable modifications and making reasonable accommodations in rules. Always answer national portion questions from the federal list and check your own state's additions separately.

12. 12. Which statements about the three appraisal approaches to value are correct?

    Wähl alles aus, was zutrifft.

    • A. The income approach is the usual choice for an owner occupied single family home
    • B. The cost approach adds land value to what it would cost to rebuild the improvements, minus depreciation
    • C. The sales comparison approach adjusts the prices of similar properties that recently sold
    • D. The income approach divides net operating income by a capitalization rate
    • E. An appraisal and an agent's comparative market analysis are the same thing
    Antwort und Erklärung zeigen

    Antwort: B. The cost approach adds land value to what it would cost to rebuild the improvements, minus depreciation, C. The sales comparison approach adjusts the prices of similar properties that recently sold, D. The income approach divides net operating income by a capitalization rate

    Sales comparison leads for houses, because there are plenty of recent sales to adjust against. The cost approach carries the most weight for new construction and for special purpose buildings such as a school or a church, where comparable sales barely exist. The income approach fits property bought for the income it throws off, and the basic relationship is value equals net operating income divided by the capitalization rate. An appraisal is an independent opinion of value by a licensed appraiser, while a comparative market analysis is a pricing tool an agent prepares, and confusing the two is a common exam trap.

13. 13. Complete the sentence.

    A home sells for $320,000. The seller agreed to a 6 percent commission, and the listing and selling brokerages split it evenly. Each brokerage receives _____.

    Optionen für Lücke 1: $4,800, $9,600, $16,000, $19,200

    Antwort und Erklärung zeigen

    Antwort: $9,600

    Six percent of $320,000 is $19,200, and half of that is $9,600 per brokerage. Read these questions carefully, because they often ask for one agent's share rather than the whole fee, which means a second split between the brokerage and its agent. Commission rates and splits are always negotiable between the parties, and no law, board or association may set them.

14. 14. Complete the sentence.

    The annual property tax on a home is $3,600 and it is paid in arrears. The sale closes on June 1, and the closing agent prorates using twelve equal months, charging the seller through May 31. The seller's share of the tax is _____.

    Optionen für Lücke 1: $1,200, $1,500, $1,800, $2,100

    Antwort und Erklärung zeigen

    Antwort: $1,500

    Divide $3,600 by 12 to get $300 a month, then count the months the seller owned the home, January through May, which is five months, for $1,500. Because the tax is paid in arrears, that amount is a credit to the buyer and a debit to the seller at settlement. Proration conventions differ: some closings use a 360 day year with 30 day months, others use the actual 365 days, and whether the day of closing belongs to the seller or the buyer is set by the contract or by local custom.

15. 15. Complete the sentence.

    A buyer purchases a home for $300,000 and puts $60,000 down, leaving a $240,000 loan. The loan to value ratio is _____. The lender charges two discount points on that loan, which costs the buyer _____ at closing.

    Optionen für Lücke 1: 70 percent, 75 percent, 80 percent, 90 percent

    Optionen für Lücke 2: $2,400, $4,800, $6,000, $9,600

    Antwort und Erklärung zeigen

    Antwort: 80 percent, $4,800

    Loan to value is the loan divided by value, so $240,000 divided by $300,000 is 80 percent. When the sale price and the appraised value differ, lenders base the ratio on the lower of the two. One discount point is 1 percent of the loan amount, never of the sale price, so two points on $240,000 is $4,800, and points are paid up front to buy the interest rate down. On a conventional loan an LTV above 80 percent normally triggers private mortgage insurance, which is one reason 20 percent down is such a common target.

Was die US-Maklerlizenzprüfung wirklich abfragt

Die Maklerlizenz ist in den USA Sache des einzelnen Bundesstaats und nicht des Bundes. Die real estate commission deines US-Bundesstaats legt fest, wer zur Prüfung zugelassen wird, wie viele Unterrichtsstunden du vorher brauchst, welcher Prüfungsanbieter den Test abnimmt, wie viele Fragen er hat, wie viel Zeit du bekommst und welche Punktzahl zum Bestehen reicht. Zwei Nachbarstaaten können sich in jedem einzelnen dieser Punkte unterscheiden, deshalb sind die einzigen Zahlen, denen du trauen solltest, die aus dem candidate handbook deines Bundesstaats. Dieses Handbuch ist kostenlos, es wird von dem Anbieter herausgegeben, mit dem dein Bundesstaat einen Vertrag hat, und es ist das Erste, was du herunterladen solltest.

Fast alle Bundesstaaten teilen sich denselben zweiteiligen Aufbau. Es gibt eine national portion mit den Grundsätzen und der Praxis, die überall weitgehend gleich sind, und eine state portion mit dem license law deines eigenen Bundesstaats, seinen agency rules, seinen Offenlegungsformularen und den Vorschriften seiner commission. Viele Bundesstaaten bewerten die beiden Teile getrennt, du kannst also den einen bestehen und den anderen nicht und musst für die verpasste Hälfte noch einmal antreten.

Dieser Auszug deckt nur die national portion ab. Dieser Teil fragt üblicherweise nach Eigentum an Grundstücken und Nutzungsbeschränkungen, legal descriptions, Belastungen, agency-Verhältnissen und Offenlegung, Verträgen, Finanzierung, Bewertung, Hausverwaltung, dem bundesweiten Fair Housing Act und dem Rechnen zum Abschluss. Nichts auf dieser Seite ist Rechtsberatung, und nichts davon ersetzt die Regeln deines eigenen Bundesstaats.

So nutzt du diesen Auszug und wie du den Stoff lernst

Mach alle 15 Fragen in einem Durchgang ohne Notizen, und lies danach die Erklärung zu jeder Frage, auch zu denen, die du richtig hattest. Richtig raten und wissen, warum, sind zwei verschiedene Dinge, und nur eines davon überlebt bis zum Prüfungstag. Behandle jede falsche Antwort als Thema und nicht als einzelne Tatsache. Wenn du die Frage zur easement und die zur Rangfolge der liens verpasst hast, arbeite Belastungen als Ganzes durch, denn das ist dieselbe Idee aus zwei Blickwinkeln.

Die national portion belohnt Fachvokabular stärker, als die meisten erwarten. Begriffe wie dominant tenement, servient tenement, general agent, special agent, appurtenant und consideration haben eng gefasste juristische Bedeutungen, und die Prüfung baut ihre falschen Antworten aus den Begriffen, die ähnlich klingen. Führ eine laufende Liste der Begriffe, die du immer wieder verwechselst, und übe diese Paare gegeneinander, statt das Kapitel noch einmal zu lesen.

Rechne mit Stift und Papier, statt die Antwort wiederzuerkennen. Provisionsaufteilungen, prorations, points, loan to value und transfer tax folgen alle demselben Muster: Bestimme die Bezugsgröße, wende den Satz an, und prüf dann, ob die Frage den Gesamtbetrag oder den Anteil einer Partei will. Genau deshalb sind die drei Lückentextfragen hier alle Rechenaufgaben. Setz dich danach getrennt mit deiner state portion hin, denn davon steht nichts auf dieser Seite.

Wie StudyPDF vollständige Übungstests aus deinem Lernbuch baut

Fünfzehn Fragen zeigen dir, wo du wackelst. Prüfungsreif machen sie dich allein nicht, und ein generischer nationaler Fragenpool sagt nichts über die Hälfte deiner Prüfung, die aus dem Recht deines Bundesstaats kommt.

StudyPDF geht stattdessen von deinem eigenen Material aus. Lade das Lernbuch hoch, das du gekauft hast, die Unterlagen aus dem staatlich anerkannten prelicense-Kurs deines Bundesstaats, die Folien deiner Dozentin oder das Handbuch, das dir dein Maklerbüro in die Hand gedrückt hat, und Bo, der Lern-Agent, baut aus genau diesen Seiten vollständige Übungstests. Das ist der einzige praktikable Weg, deine state portion zu üben, denn das license law deines Bundesstaats steht in deinen Kursunterlagen und in keinem nationalen Fragenpool. Jede Frage steckt in deinen Seiten, und jede Erklärung nennt die Stelle, aus der die Antwort stammt, sodass du direkt zur Quelle zurückgehen kannst, wenn etwas falsch aussieht. Du kannst so oft neue Tests erzeugen, wie du willst, sie auf einen Bereich wie agency oder Finanzierung eingrenzen und verfolgen, welche Konzepte dir immer wieder entgehen.

Zum Starten musst du nichts hochladen. Wenn deine Kursunterlagen noch in der Post sind, nenn stattdessen ein Thema, zum Beispiel easements und Belastungen oder loan-to-value-Rechnen, und Bo schreibt daraus einen Übungstest. Der Start ist kostenlos, und es passt neben einen Job, denn so lernen die meisten für diese Prüfung.