Episode 065 - State Exam Questions 19
A-Ha! Real Estate Exam Prep Podcast
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Show Notes
Episode 065 - State Exam Questions 19
Going through state exam questions to help real estate students pass their state exam.
02:18 – Watch you sources for exam prep information. Not all information is correct or complete.
06:34 – What are the steps to using the cost approach?
09:15 – What is the purpose of a real estate appraisal?
10:58 – What must an appraiser do before using a comparable property?
13:25 – What is a life estate and how do they work? Pur autre vie – for the life of another.
17:02 – Who gets the earnest money when the parents of the buyer provides the earnest money?
21:08 – What type of agency exists when two different agents working for two different firms but are affliated with the same national franchise?
24:23 – What is the difference between a license and an encroachment?
27:29 – Calculating interest payments: $120,000 loan with a $2,700 quarterly interest payment, what is the annual interest rate? $2,700 / $120,000 = 2.25% (Quarterly); 2.25% x 4 = 9% annual interest rate.