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Mississippi Real Estate Salesperson Exam: Study Guide & Practice  /  Real Estate Prep

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Mississippi Real Estate Salesperson Exam: Study Guide & Practice Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. What is the gross income multiplier of a house that rents for $1,200 each month and would sell for $150,000?

Question 2 2. What characteristic is not an important factor in supply and demand analysis?

Question 3 3. How are limited liability company profits taxed?

Question 4 4. A _____ transfers property to a _____ who owns and manages it for the _____.

Question 5 5. Which of the following is a risk of having a property that is home to a protected species?

Question 6 6. What does a 100 year floodplain mean in terms of flood risk for a property?

Question 7 7. Nancy purchased a property at a foreclosure auction and afterwards discovers that the foreclosure was brought by the holder of the second mortgage on the property. Why should Nancy be concerned?

Question 8 8. A deed contains the following information: the name of the grantor and grantee, words of conveyance and a signature of the grantor. The deed is delivered to the grantee. What's missing to make the deed effective?

Question 9 9. Which of the following cannot be placed into escrow?

Question 10 10.

True or false?

1. All IOUs contain repayment terms, just like a promissory note.

2. IOUs are synonymous to promissory notes and loan contracts.

Question 11 11. Kerry works for a bank. He just denied a loan to a couple seeking to buy real estate in the inner city where the default rates are always high. The loan was denied because the husband had just lost his job and the family has recently took some dings on their credit report, which also indicates a high amount of credit card debt. What unethical practice is Kerry engaging in?

Question 12 12. The ideal (and most popular) medium for real estate advertising today is:

Question 13 13. Which type of deed transfers the ownership interest the seller has in the property, but does not promise, warrant, or guarantee that interest?

Question 14 14. In metes and bounds terminology, how many measuring rods add up to a chain?

Question 15 15.

Calculate Sue's DTI.

She has a mortgage payment of $700, a car payment of $300, and credit card payments of $400 each month. Her monthly income is $4,000.

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Mississippi Real Estate Salesperson Exam: Study Guide & Practice Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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