Episode 079 - Real Estate Exam Questions 33

Going through state exam questions to help real estate students pass their state exam.

00:55 – It is Valentine's Day and I love teaching real estate.

02:00 – Shout to all of the graduates, Hannah, Sean, Justin, Ann, Rich, Jeff, Kathy, Isaac, Kevin, Molly, Michelle, Stacey, Lisa, Lori, and Michael.

03:30 – Stephanie: "Shut your face, I passed".

05:20 – Please send me your state specific study materials. I will go through it and make study guides for you.

08:45 – Do NOT cheat to pass the test. Do NOT study test questions.

14:18 – If broker represents a seller and presents an offer from the broker's best friend. Who does the broker represent and act in their best interest? Answer: the seller, not the best friend.

19:00 – What is Time is of the essence?

22:50 – What type of lease automatically renews? Periodic tenancy, periodic estate, estate from period to period.

27:05 – Zoning designations: residential, commercial, and industrial. Differences between public and private controls. Who are the participants?

31:20 – What percentage share is assumed when co-owners take ownership as tenants in common? Answer: assumed to be equal, but is not required to be equal.

35:48 – Fannie Mae, Freddie Mac, and Ginnie Mae – they do not provide loans, they buy loans from banks; conforming and non-conforming; FHA insured and VA guaranteed.

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