John A. Yoegel

Licenses for real estate brokers and salespersons are granted by each state. Every state has its own laws governing real estate procedures, practices, and license law. This article gives you a list of issues (in alphabetical order) that you need to find out about in your own state before you take the real estate exam.

The rectangular survey system, often referred to as the government survey system, is based on a system of lines that form rectangles and squares throughout the United States.The first sets of lines respectively are called principal meridians, which run north and south, and baselines, which run east and west. The principal meridians and baselines are based respectively on lines of longitude and latitude.

Every teacher with whom you’ve ever taken a class has told you that the way to successfully pass an examination is to prepare for it. Maybe that’s all they said, leaving you hanging, or maybe they gave you a few hints. But here's a detailed plan for getting ready to take the exam. The plan is based on steps characterized by the letters in the acronym PREPARE.

Prepare to review some of the math associated with mortgages. In these calculations, one important term to know is amortized loan, which means that each payment on the mortgage is a combination of principal and interest so that at the end of the mortgage term you have nothing left to pay.How necessary is having a financial calculator for real estate work or for the state exam?

Because you'll be selling land and buildings as a real estate agent, for the real estate license exam, you need to know how to figure out what size they are. For the real estate license exam, all you really need to know is how to calculate the area and volume of land and buildings after you have the measurements.

Taking a state real estate exam is necessary for becoming a licensed real estate agent. Every state requires real estate agents to have a license — and to take and pass a state examination to get that license. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career.

Among some other math questions on the Real Estate License Exam, you will be expected to find the assessed property value. The word assessed really means to assign or give a value to something. The assessed value is not necessarily the actual dollar value of the property. A municipality may, for example, assess property at 50 percent of its market value.

The relationship between a real estate agent and a client is called a fiduciary relationship. Fiduciary means faithful servant, and an agent is a fiduciary of the client. In real estate, a broker or a salesperson can be the agent of a seller or a buyer. Here's a list of the fiduciary duties that an agent owes her client: Accounting: The agent must account for all funds entrusted to her and not commingle (combine) client/customer funds with her personal and/or business funds.