Real Estate License Exams

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Environmental Laws You Need to Know for the Real Estate License Exam

Real Estate License examiners will expect you to have a general understanding of environmental laws, as it pertains to real estate. As environmental concerns have grown across the United States, the federal [more…]

What You Should Know about the Environmental Effects of Building Developments for the Real Estate License Exam

The Real Estate License Exam will expect you to have an environmental conscience. Many land development projects, everything from building a single house to a major shopping center or multi-lot subdivision [more…]

Waste and Water Issues You Should Know about for the Real Estate License Exam

Water supply is a major environment issue in the United States. You are bound to see a few questions on the Real Estate License Exam regarding this issue. Without a sufficient supply of clean, drinkable [more…]

Appraisal Basics for the Real Estate License Exam

A real estate agent needs to know about property value for a number of reasons; one being the questions on the Real Estate License Exam. An agent usually helps a seller set an asking price for a property [more…]

Real Estate License Exam: The Importance of Location

Many things ultimately affect the value of real estate and these will be important to know for the Real Estate License Exam. You’ve probably heard the classic real estate question: What are the three most [more…]

Different Types of Value on the Real Estate License Exam

Value is value, you say. How could there be different types of value? In most cases you’re correct. However, for the Real Estate License Exam, you will need to know about the different types of value regarding [more…]

Property Tax Basics for the Real Estate License Exam

The Real Estate License Exam will have basic questions about property taxes. Think about it logically. This morning you probably drove your car on a street to get to work, right? Presumably, you drove [more…]

The Cost Approach Formula for the Real Estate License Exam

One method of estimating the value of real estate is called the cost approach. You’ll need to know the formula for the Real Estate License Exam. The cost approach [more…]

How to Find Value by Analyzing Comparable Sales for the Real Estate License Exam

The principal approach that appraisers use to estimate property value that will be on the Real Estate License Exam involves analyzing the sales of other similar properties, called [more…]

How to Estimate Replacement and Reproduction Costs for the Real Estate License Exam

You will need to know how to estimate replacement and reproduction costs for the Real Estate License Exam. Reproduction cost is the cost to construct an exact duplicate of the subject structure at today’s [more…]

How to Estimate Depreciation for the Real Estate License Exam

The Real Estate License Exam will have questions that ask you to estimate depreciation. Depreciation is the loss in value to any structure due to a variety of factors, such as wear and tear, age, and poor [more…]

How to Estimate Value with the GRM Technique for the Real Estate License Exam

There will be questions on the Real Estate License Exam about the GRM technique. The Gross Rent Multiplier (GRM) technique for estimating value is based on the idea that a property value can be calculated [more…]

How to Estimate Value with the Income Capitalization Approach for the Real Estate License Exam

A method that will be covered on the Real Estate License Exam for appraising real estate based on its income is known as the income capitalization approach. [more…]

Mortgage Basics for the Real Estate License Exam

The place to start a discussion about real estate financing is with some basic concepts and terminology. For the Real Estate License Exam, you will need to have a good grasp on mortgages, especially the [more…]

Common Conditions of a Mortgage Loan You Should Know for the Real Estate License Exam

It’s important to remember for the Real Estate License Exam that the terms and conditions of a particular mortgage loan can differ from those of any other mortgage loan. But most mortgage loan arrangements [more…]

Sources of Funding for Mortgage Loans You Should Know for the Real Estate License Exam

The Real Estate License Exam will ask questions about funding mortgages. One of the important pieces of information that a real estate agent can provide a buyer is where to go for a mortgage loan, but [more…]

What You Should Know about the Primary Mortgage Market for the Real Estate License Exam

The primary mortgage market, sometimes referred to as primary lenders on the Real Estate License Exam, is where consumers go to borrow money to buy real estate. Although all of these institutions make [more…]

What You Should Know about the Secondary Mortgage Market for the Real Estate License Exam

The Federal Reserve System (the Fed) is a key player in financial markets you’ll need to know about for the Real Estate License Exam that affect the availability of money for real estate mortgage loans [more…]

What You Should Know about Federal Loan Insurance Programs for the Real Estate License Exam

The federal government sponsors a few programs that offer insurance coverage for mortgage loans. The Real Estate License Exam may include a question or two about these programs starting with the fact that [more…]

Mortgage Acceptance Considerations on the Real Estate License Exam

The Real Estate License Exam will have questions pertaining to mortgages and lenders. A primary lender has two considerations when it is making a loan for the purchase or refinancing of real estate: the [more…]

Types of Mortgages You Should Know for the Real Estate License Exam

Although a specific mortgage loan may not be available for every possible situation, the variations will be on the Real Estate License Exam. There are enough variations to cover most people’s real estate [more…]

Fixed and Adjustable Rate Mortgage Basics for the Real Estate License Exam

Mortgage payment plans will be covered on the Real Estate License Exam. As economic times have changed, it has become apparent that a more flexible approach would better serve both the borrower’s and the [more…]

What You Should Know about Amortized Loans for the Real Estate License Exam

The most popular type of loan that buyers use to purchase homes is an amortized loan, or direct reduction loan. The Real Estate License Exam will expect you to answer some math questions. The primary feature [more…]

What You Should Know about Foreclosures for the Real Estate License Exam

The Real Estate License Exam will have basic foreclosure questions. Foreclosure is the process by which the lender takes over ownership of the property and sells it for nonpayment of the debt. Mortgages [more…]

What You Should Know about Mortgage Assumption and Assignment for the Real Estate License Exam

Mortgage assumption and assignment are concepts that Real Estate License examiners will expect you to know about. A mortgage assumption takes place when a new party takes over the obligations of another [more…]

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