Term
| a written agreement giving the listing broker the right to collect a commission, no matter who sells the property, within the term of the agreement, is |
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Definition
| an exclusive right to sell listing |
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Term
| which of the following listings provides the least protection of the broker's interest |
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Definition
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Term
| a licensed real estate salesman may lawfully receive a commission from |
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Definition
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Term
| broker commissions for the sale of real property are usually based on |
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Definition
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Term
| a licensed salesperson is paid 2% commission on all sales that he produces. how much dollar volume of real estate would she have to sell each month to make $3,500 per month |
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Definition
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Term
| a residence orginally listed at 92k sold for 7% less than that. if the listing broker gets half of the 6% sales commission and he gives his salesperson 60% of that, how much does the listing salesperson receive |
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Definition
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Term
| the least appropriate person to choose which title and escrow company to use in closing a real estate sale would be |
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Definition
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Term
| all of the following are examples of fiduciary relationships except |
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Definition
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Term
| the listing salesperson was told by a prospective buyer to present and offer of 150k with the promise that he would increase it to 152k if the seller rejected 150k. the salesperson must |
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Definition
| present the offer and disclose the promise to increase the offer |
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Term
| the purpose of the account is to |
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Definition
| hold money belonging to clients and customers |
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Term
| it is unethical practice ( and in some states against the law) for a broker representing a seller to do which of the following |
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Definition
| advise a prospective purchaser of the lowest price the seller is willing to accept |
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Term
| agents are required to provide clarification of who the agent represents |
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Definition
| at the first substantial contract |
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Term
| comparing the 1968 fair housing act and the civil rights act of 1866, which true |
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Definition
| the act of 1968, called the fair housing law, exempts properties offered for commercial use |
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Term
| under the fair housing act of 1968, apartment managers may discriminate against which of the following categories of people |
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Definition
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Term
| a property can be exempt from allowing children if |
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Definition
| it is generally occupied by persons 62 years or older |
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Term
| all of the following are true of the ADA, enacted on july 26, 1992, except |
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Definition
| it requires alterations to the property, no matter what that cost will be |
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Term
| a licensed agent must be aware of local zoning ordinances for all of the following reason except |
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Definition
| licenses must report zoning violations to the proper authorities |
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Term
| in the case of a contradiction between exisiting zoning and new deed restricitons, which would prevail |
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Definition
| whichever is the more restrictive |
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Term
| the authority of government to control land use is derived from the right of |
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Definition
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Term
| local residents may best gain control over the future developemtn of their community by paying attention to |
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Definition
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Term
| examples of zoning ordinaces |
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Definition
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Term
| the word variance in land use applies to |
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Definition
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Term
| the difference between a variance and nonconforming use is that |
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Definition
| a variance changes the permitted use; nonconforming use does not |
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Term
| industries which produce goods and services for export are referred to by all of the following terms except |
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Definition
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Term
| the real estate brokerage industry is an example of a |
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Definition
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Term
| generally, for every job created by a base industry, there will be created in service industry apprx |
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Definition
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Term
| real estate values are affected by the fed govs |
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Definition
| tax rules, laws, deficits (all of the above) |
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Term
| fed laws have traditionally allowed owners of investment properties to deduct all of the following except |
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Definition
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Term
| cost-push inflation is the result of |
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Definition
| increased manufacturing costs |
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Term
| demand pull inflation has little to do with |
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Definition
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Term
| to be considered a good investment, when a property which generates a negative cash flow is sold, |
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Definition
| there must be a substantial increase in property value |
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Term
| which of the following is necessary in order to calculate cash flow |
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Definition
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Term
| if vaccancies and collections losses, property taxes, expenses of operation and loan service are deducted from the gross income, you have |
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Definition
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Term
| if a potential investment is referred to as an alligator, the investor knows he can expect |
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Definition
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Term
| weldon bought a duplex and lives in one half. on his tax report, he can deduct |
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Definition
| all expenses on the rented half |
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Term
| real estate licensees have a statutory duty to provide |
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Definition
| a disclosure to the buyer of all known environmental hazards |
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Term
| in regulations regarding lead-based paints HUD requires that |
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Definition
| know paint hazzads must be disclosed |
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Term
| a method of sealing off disintegrating asbestos is called |
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Definition
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Term
| a REALTOR is required by the code of ethics to cooperate with other brokers except |
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Definition
| when cooperation is not in the best interest of the REALTOR's customer |
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Term
| the national association of REALTORS code of ethics |
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Definition
| sets guidelines governing competition among REALTORS |
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Term
| the Neb Real Estate Commission is comprised of how many commissioners |
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Definition
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