Docsity
Docsity
Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity

Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan

Guidelines and tips
Guidelines and tips
Sell on Docsity
Sell on Docsity
Docsity AI
Docsity AI
Log inSign up

Prepare for your exams

Study with the several resources on Docsity

Find documents

Prepare for your exams with the study notes shared by other students like you on Docsity

Search for your university

Find the specific documents for your university's exams

Docsity AINEW

Summarize your documents, ask them questions, convert them into quizzes and concept maps

Explore questions

Clear up your doubts by reading the answers to questions asked by your fellow students

Earn points to download

Earn points by helping other students or get them with a premium plan

Share documents
download point icon20 Points

For each uploaded document

Answer questions
download point icon5 Points

For each given answer (max 1 per day)

All the ways to get free points
Get points immediately

Choose a premium plan with all the points you need

Study Opportunities

Choose your next study program

Get in touch with the best universities in the world. Search through thousands of universities and official partners

Community

Ask the community

Ask the community for help and clear up your study doubts

Free resources

Our save-the-student-ebooks!

Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors

NATIONAL REAL ESTATE PEARSON VUE ACTUAL EXAM PAPER 2026 COMPLETE QUESTIONS AND CORRECT SOL, Exams of Finance

Princeton UniversityFinance

NATIONAL REAL ESTATE PEARSON VUE ACTUAL EXAM PAPER 2026 COMPLETE QUESTIONS AND CORRECT SOLUTIONS LATEST UPDATED

Typology: Exams

2025/2026

Available from 01/06/2026

HighMark_Prep
HighMark_Prep 🇺🇸

5

(3)

27K documents

1 / 12

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
NATIONAL REAL ESTATE PEARSON VUE
ACTUAL EXAM PAPER 2026 COMPLETE
QUESTIONS AND CORRECT SOLUTIONS
LATEST UPDATED
⩥ Warranty Deed. Answer: Offers the greatest protection that a deed can
give.
⩥ Special Warranty Deed (Limited warranty deed). Answer: 1) Owner
warrants only that he has not done harm to the title
2) Covers only the period of time when the sellers owner the property.
⩥ Quitclaim Deed. Answer: The seller agrees to convey whatever
interest, IF ANY, they have in the property.
⩥ The reason a deed is recorded is. Answer: for protection against a
third party.
⩥ Elements necessary to a valid deed:. Answer: 1) signed &
acknowledged by grantor
2) Lists marital status of the grantor
3) Use words of conveyance - also called a granting clause
4) Names & addresses of grantees
pf3
pf4
pf5
pf8
pf9
pfa

Partial preview of the text

Download NATIONAL REAL ESTATE PEARSON VUE ACTUAL EXAM PAPER 2026 COMPLETE QUESTIONS AND CORRECT SOL and more Exams Finance in PDF only on Docsity!

NATIONAL REAL ESTATE PEARSON VUE

ACTUAL EXAM PAPER 2026 COMPLETE

QUESTIONS AND CORRECT SOLUTIONS

LATEST UPDATED

⩥ Warranty Deed. Answer: Offers the greatest protection that a deed can give. ⩥ Special Warranty Deed (Limited warranty deed). Answer: 1) Owner warrants only that he has not done harm to the title

  1. Covers only the period of time when the sellers owner the property. ⩥ Quitclaim Deed. Answer: The seller agrees to convey whatever interest, IF ANY, they have in the property. ⩥ The reason a deed is recorded is. Answer: for protection against a third party. ⩥ Elements necessary to a valid deed:. Answer: 1) signed & acknowledged by grantor
  2. Lists marital status of the grantor
  3. Use words of conveyance - also called a granting clause
  4. Names & addresses of grantees
  1. Acknowledged by Grantor in front of Notary Public
  2. Signed in front of two witnesses (in most states)
  3. Legal description
  4. Delivery & acceptance of deed ⩥ Lot & Block System. Answer: Subdivision ⩥ Township. Answer: 36 Square Miles ⩥ Eminent Domain. Answer: The RIGHT of the government to condemn & take the property. ⩥ Condemnation. Answer: The PROCESS of the government taking a property by eminent domain. ⩥ Escheat. Answer: The state takes property upon an owners death if there is no will & no heirs exist. ⩥ Adverse Possession. Answer: A person takes possession & use of a property belonging to another. Possession must be open, notorious, hostile & uninterrupted for a certain period of time. ⩥ Abstract of Title. Answer: A complete history of ownership.

⩥ Accretion. Answer: Physical addition to the land by natural forces. ⩥ Alluvium (also Alluvion). Answer: The soil on a shore or bank of a river ⩥ Lis Pendens. Answer: A pending notice of a lawsuit giving notice of a possible claim to the property ⩥ Writ of Attachment. Answer: A document filed during a lawsuit that prevents a debtor from conveying the property ⩥ Fixtures. Answer: items of personal property attached to real property that are not removed by the seller ⩥ Trade Fixtures. Answer: Personal property used in a business and can be removed by the lessee when the lease terminates. ⩥ Appraisal. Answer: is an estimate or an opinion of value ⩥ Market Value. Answer: An estimate of probably price on the date of the appraisal.

⩥ Market Price. Answer: What the property actually sells for ⩥ The 3 approaches to value are:. Answer: 1) Market Data Approach (single family homes)

  1. Cost Approach (commercial property)
  2. Income Approach (income producing property) ⩥ Blockbusting. Answer: Encouraging owners to sell their properties because minorities are moving into a neighborhood ⩥ Steering. Answer: Trying to influence a buyer's housing choice using race, religion, ethinicity, national origin, or ancestory factors as the reasoning. ⩥ Redlining. Answer: Denying loans in certain areas due to race, religion, sex, familial status, or a disability. ⩥ The Civil Rights Act of 1866 Covers:. Answer: 1) Race
  3. Color
  4. Ancestry (it's the only act that covers this) It applies to all property (Real & Personal) There are no exceptions
  1. Age
  2. Marital Status
  3. Receipt of Public Assistance ⩥ A real estate broker is a. Answer: Special Agent ⩥ Dual Agent. Answer: One broker representing both the buyer & the seller in a single transaction ⩥ A salesperson. Answer: is a subagent of the client, has no direct relationship to the principal, is only responsible to the broker. ⩥ Puffing. Answer: an opinion or exaggeration of the property's benefits. ⩥ Fraud. Answer: Intentional misrepresentation of facts ⩥ Violations of the Sherman Antitrust Act include. Answer: 1) Price Fixing
  4. Allocation of the market ⩥ Exclusive Right to Sell Listing. Answer: 1) Only one broker is authorized to sell
  5. the broker receives a commission no matter who finds the buyer

⩥ Exclusive Agency Listing. Answer: 1) Only one broker is authorized to sell

  1. If the owner finds a buyer, no commission is owed ⩥ Open Listing. Answer: 1) Any # of brokers may be retained
  2. The broker who sells the property receives the commission. ⩥ After a purchaser signs a sales contract, the salesperson must do which of the following? 1 Keep the original contract & give the purchaser a copy the next day.
  1. Give the purchaser a copy immediately
  2. Mail the purchaser a copy after the statutory 3 day cooling off period
  3. None of the above. Answer: Answer: 2, Give the purchaser a copy immediately ⩥ Which one of the following is NOT real property? 1 Wall to wall carpeting installed over plywood subfloor 2 Built-in dishwasher 3 drapes 4 sump pump. Answer: Answer: 3, Drapes

1 As a joint tenant 2 As a tenant in common 3 As a tenant by the entireties 4 in severalty. Answer: Answer: 4, in severalty ⩥ Taxes are levied on a property owner to pay for improvements that benefit only that property are called: 1 Fees 2 General Property Taxes 3 Special Excise Taxes 4 Special Assessments. Answer: Answer: 4, Special Assessments ⩥ The market price of real estate is generally the same as: 1 Sales Price 2 Appraised Value 3 Highest and best use 4 Mortgage loan value. Answer: Answer: 1, Sales price ⩥ A mortgage note must be: 1 a negotiable instrument 2 Signed by the mortgagor 3 Signed by the mortgagee

4 Recorded to be valid. Answer: Answer: 2, Signed by the mortgagor (the borrower) ⩥ The Federal Truth in Lending Law: 1 Requires a lender to estimate a borrower's approximate loan closing costs before accepting a loan. 2 regulates advertising that contains information regarding mortgage terms 3 prevents brokers from using a phrase like "FHA financing available" in any ad 4 Dictates that mortgage applications be made on specific government forms. Answer: Answer: 2, regulates advertising that contains information regarding mortgage terms ⩥ The rights of the owner with property abutting the bank of a stream are called: 1 Littoral rights 2 riparian rights 3 avulsion 4 dominant tenenments. Answer: Answer: 2, riparian rights ⩥ What is the primary purpose of a deed? 1 Transfer of title 2 proof of ownership