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Liever eerst lezen? Hieronder staat elke vraag uit deze oefentoets. Antwoorden en uitleg blijven ingeklapt tot je ze opent.

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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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
   Toon antwoord en uitleg

   Antwoord: 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?

    Selecteer alles wat van toepassing is.

    • 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
    Toon antwoord en uitleg

    Antwoord: 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?

    Selecteer alles wat van toepassing is.

    • A. Occupation
    • B. Familial status, meaning households with children under 18
    • C. Source of income
    • D. National origin
    • E. Disability
    • F. Level of education
    Toon antwoord en uitleg

    Antwoord: 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?

    Selecteer alles wat van toepassing is.

    • 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
    Toon antwoord en uitleg

    Antwoord: 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 _____.

    Opties voor invulveld 1: $4,800, $9,600, $16,000, $19,200

    Toon antwoord en uitleg

    Antwoord: $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 _____.

    Opties voor invulveld 1: $1,200, $1,500, $1,800, $2,100

    Toon antwoord en uitleg

    Antwoord: $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.

    Opties voor invulveld 1: 70 percent, 75 percent, 80 percent, 90 percent

    Opties voor invulveld 2: $2,400, $4,800, $6,000, $9,600

    Toon antwoord en uitleg

    Antwoord: 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.

Wat het licentie-examen voor makelaars echt vraagt

De makelaarslicentie is in de Verenigde Staten een zaak van de afzonderlijke staat en niet van de federale overheid. De real estate commission van jouw staat bepaalt wie het examen mag maken, hoeveel uur prelicense-onderwijs je eerst nodig hebt, welke testaanbieder het examen afneemt, hoeveel vragen het heeft, hoeveel tijd je krijgt en welke score volstaat. Twee buurstaten kunnen op al die punten van elkaar verschillen, dus de enige getallen die je mag vertrouwen staan in het candidate handbook van je eigen staat. Dat handboek is gratis, het wordt uitgegeven door de testaanbieder waarmee jouw staat een contract heeft, en het is het eerste wat je downloadt.

Wat vrijwel elke staat wel deelt is de opbouw in twee delen. Er is een national portion over de beginselen en de praktijk die overal grotendeels hetzelfde zijn, en een state portion over de license law, de agency-regels, de disclosure-formulieren en de commissieregels van je eigen staat. Veel staten beoordelen de twee delen apart, wat betekent dat je het ene kunt halen en het andere niet, en dat je dan terugkomt voor de helft die je miste.

Deze oefentoets gaat alleen over het national portion. Dat deel vraagt meestal naar eigendom en ruimtelijke regels, legal descriptions, encumbrances, agency-verhoudingen en informatieplicht, contracten, financiering, taxatie, vastgoedbeheer, de federale fair housing-wetgeving en het rekenwerk rond de settlement. Niets op deze pagina is juridisch advies, en niets ervan vervangt de eigen regels van jouw staat.

Hoe je deze oefentoets gebruikt en hoe je de stof leert

Maak alle 15 vragen in een keer zonder aantekeningen, en lees daarna de uitleg bij elke vraag, ook bij de vragen die je goed had. Goed gokken en weten waarom zijn twee verschillende dingen, en maar een van de twee haalt de examendag. Behandel elk fout antwoord als een onderwerp en niet als een los feit. Had je de vraag over de erfdienstbaarheid en de vraag over de rangorde van liens fout, herhaal dan encumbrances als geheel, want het is hetzelfde idee vanuit twee kanten bekeken.

Het national portion beloont vocabulaire meer dan de meeste mensen verwachten. Woorden als dominant tenement, servient tenement, general agent, special agent, appurtenant en consideration hebben allemaal een nauwe juridische betekenis, en het examen bouwt zijn afleiders uit de termen die er dichtbij klinken. Houd een doorlopende lijst bij van termen die je blijft verwarren en oefen die paren tegen elkaar in plaats van het hoofdstuk nog een keer te lezen.

Doe het rekenwerk met potlood en papier en niet door het antwoord te herkennen. Commissieverdelingen, prorations, points, loan to value en transfer tax volgen allemaal hetzelfde patroon: bepaal de grondslag, pas het percentage toe, en kijk daarna of de vraag het hele bedrag wil of het aandeel van een van de partijen. Daarom zijn de drie invulvragen hier alle drie rekenwerk. Ga daarna apart zitten voor je state portion, want daar gaat deze pagina niet over.

Zo bouwt StudyPDF volledige oefentoetsen uit je voorbereidingsboek

Vijftien vragen laten zien waar je wankel staat. Klaar maken ze je in hun eentje niet, en een algemene landelijke vragenbank zegt niets over de helft van je examen die over het recht van je eigen staat gaat.

StudyPDF werkt in plaats daarvan vanuit jouw eigen materiaal. Je uploadt het voorbereidingsboek dat je gekocht hebt, de bundel van je door de staat erkende prelicense-cursus, de slides van je docent of het handboek dat je van je kantoor kreeg, en Bo, de studie-agent, bouwt uit precies die pagina's volledige oefentoetsen. Dat is de enige praktische manier om je state portion te oefenen, want de license law van jouw staat staat in je cursusmateriaal en in geen enkele landelijke vragenbank. Elke vraag is geworteld in jouw pagina's en elke uitleg noemt waar het antwoord vandaan komt, dus je gaat meteen terug naar de bron als iets er verkeerd uitziet. Maak zo vaak als je wilt nieuwe toetsen, richt ze op een enkel gebied zoals agency of financiering, en houd bij welke begrippen je blijft missen.

Je hoeft niets te uploaden om te beginnen. Is je cursusmateriaal nog onderweg, noem dan een onderwerp, bijvoorbeeld erfdienstbaarheden en encumbrances of loan to value-rekenwerk, en Bo schrijft daar een oefentoets over. Beginnen is gratis, en het past naast een baan, wat de manier is waarop de meeste mensen zich op dit examen voorbereiden.