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In this playlist, study specific real estate concepts you need to know for the real estate exam. Learn about property rights, contract clauses, government powers, agency relationships, and so much more.
5 days ago · TL;DR: Dive into the world of real estate with our essential guide: 'Top 20 Acronyms for the Real Estate Exam.' From APR to DTI, we provide samples to help you get familiar with the real exam, mastering key terms and preparing to ace your test.
- What Does U.P.T.E.E. Mean?
- What Does D.U.S.T. Mean?
- What Does M.A.R.I.A. Mean?
- What Does P.I.T.T. Mean?
- What Does O.L.D.C.A.R. Mean?
- What Does P.E.T.E. Mean?
- Final Thoughts on The Acronyms and The State Exam
U.P.T.E.E. is an acronym that you can use to remember the five rights associated with a buyer’s bundle of rights: 1. U: Use: The right to use a property, within the confines of the law, in any way, and for any purpose. 2. P: Possess: The right to live on a property and the right to keep others out. 3. T: Transfer: The right to transfer a property b...
To have value, a property must possess four essential characteristics: 1. D: Demand:Does anyone want the property? 2. U: Utility:Is the property useful for any purpose such as shelter, income, or recreation? 3. S: Scarcity: How much exists? (The more limited the supply, the more valuable it becomes.) 4. T: Transferability:Can it be transferred or s...
M.A.R.I.A is an acronym used to remember the elements that determine if something is a fixture: 1. M: Method:This refers to the method of attachment. If the item is affixed to the property using nails, glue, wires, cement, pipes, or screws, it is usually a fixture even if it can be easily removed. 2. A: Adaptability:Once the item becomes integral t...
P.I.T.T. refers to the four factors used to determine joint tenancy: 1. P: Possession: All parties hold equal rights to possession of the property. 2. I: Interest: All parties hold an equal interest in the property. 3. T: Time: All parties acquire a property simultaneously. 4. T: Title:All parties acquire title under the same document in a joint te...
You can remember a real estate agent’s fiduciary duties using the O.L.D.C.A.R. acronym: 1. O: Obedience 2. L: Loyalty 3. D: Disclosure 4. C: Confidentiality 5. A: Accountability 6. R: Reasonable Care and Diligence
P.E.T.E. is an acronym you can use to remember the four powers government has over property: 1. P: Police Power: This is the government's right to regulate individual conduct or property to protect the community. Examples include zoning and building codes. 2. E: Eminent Domain: This refers to the government's power to appropriate property for publi...
When it comes to preparing for the California real estate exam, acronyms can be extremely useful in helping you to remember key concepts that you will need to learn in order to pass your exam. One of the best study tips you can use to learn the material is creating acronyms because it helps you easily remember important concepts you’ll be tested on...
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- Take Our Free Real Estate Practice Exam Mini-tests. We know you’re anxious to see how well you’ll do on a full-length real estate practice exam, but before you jump into your real estate exam prep, take our free real estate practice exam mini-tests first.
- Free Real Estate Practice Exam Mini-test #1. The actual real estate licensing exam is timed, closed-book, and only allows a basic function calculator, so to get the most accurate results, put your prep materials away, don’t use Google for anything, and only use the basic functions of your calculator.
- Exam Results. For most states, the threshold for passing your real estate licensing exam is 70%. If you answered seven or more of the questions here correctly, you’re well on your way to a passing score on test day!
- 7 Hacks to Improve Your Real Estate Exam Score. If you’ve creeped on my LinkedIn account (feel free to add me!) , you’ll know that I spent some time teaching for one of the major test preparation companies as a senior instructor.
Real estate math is incredibly important not only for the real estate exam but for your real estate career. Understanding real estate math and doing real estate math problems can not only give you an advantage when you become an agent; but make the real estate exam much easier!
Oct 18, 2024 · The Ohio real estate salesperson licensing exam has two parts to it. One will consist of 80 national based questions and the other will consist of 40 state specific questions. In total, there are 120 multiple-choice questions with a total allocated time of 180 minutes (3 hours) to complete.
204 solutions. Terms in this set (90) 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary. 3. What is an example of functional obsolescence? bathroom. 4. Principal definition...
