Exam prep course guidance — purpose?
Identify weak areas and measure readiness.
Agency relationship — principal?
Employs agent to act on their behalf.
Fair housing — protected classes?
FReSH CoRN and race (federally protected).
Purchase contract — earnest money?
Deposit that is refundable upon contingencies.
Lender disclosures — TILA requirement?
Disclose APR and rights within 3 days.
Market analysis — CMA purpose?
Estimate property’s market value by comparison.
Legal description — purpose?
Precisely identify property location and boundaries.
Easements — definition?
Legal rights to use another’s land.
Land-use control — zoning?
Public regulation of property use.
Commercial lease — percentage lease?
Tenant pays base rent plus sales percentage.
Deed types — general warranty?
Provides strongest title protection to buyer.
Title insurance — protects against?
Title defects discovered after closing.
Easements & liens — difference?
Easements grant use; liens are claims for debt.
Land-use controls — restrictive covenants?
Private restrictions added to deeds.
Environmental hazards — disclosure?
Must disclose impacts like floodplains or hazards.
Leasehold estate — definition?
Tenant’s right to possess property for lease term.
Gross lease — landlord pays?
Most property charges; tenant pays fixed rent.
Quiet title action — purpose?
Resolve title problems legally.
Title report — shows?
Current recorded encumbrances and ownership.
Constructive notice — created by?
Recording documents publicly.
Answer 20 questions on Real Estate Licensing Fundamentals.
1. What is the main purpose of the pre-test and post-test in the exam prep course?
2. If a student scores below 80% on the pre-test, what should happen next?
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