License Examination
Definition of "License examination"
Formal written examination given in every state to those people being the age of majority and qualifying to be a real estate salesperson or broker. The examination can consist of multiple choice, fill-in, or essay questions on general matters concerning the real estate law, practices, and profession as well as mathematics and general logic. Upon successfully passing the examination, the individual will receive a real estate salesperson or brokers license depending on the type of examination taken and the applicant's qualifications.
Popular Real Estate Terms
Large heavy piece of wood or other material generally running horizontally through a building providing support for other parts of the structure. The stringer usually runs in the direction ...
The arrangement of the walls and rooms in a structure. A two-dimensional horizontal scale drawing of the arrangements, size, and orientation of doors, rooms, walls, and windows of a single ...
Increase in the value of property caused by inflation. For example, John buys a home for $150,000. Because of inflation, the home is worth $200,000 five years later. The inflation equity in ...
Looking at pro rata in real estate we also have to deal with pro rata taxes. The term pro rata is Latin and is used in several domains either in its original form or variations from it like ...
In the business world, the definition of override means a salesperson paying a commission to a supervisor or another agent. The meaning of override refers to an arrangement for acquitting ...
One's given name at birth including a first name, a possible middle name, and a surname. The legal name must be used to legally sign documents, deeds, or contracts. ...
In everyday discourse, the term specifications describe various properties and features. They can be attributed to products, services, objects, and industries, such as real estate. What do ...
Horizontally placed timber that is connected to other timber. Smooth, flat, thin piece of metal. Electrical covering. ...
Sponsor of a syndicate involving people or companies buying an interest in a real estate investment or unit. The group of investors are in effect engaged in a joint venture for profit." ...
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