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
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...
Established federal, state or local structural building requirements that have to be adhered to so as to receive certification by the government authority. Housing code enforcement is ...
A wall or roof which extends beyond a lower wall. ...
What remains after something is removed, such as substances left after a pollution treatment facility is removed. ...
Document submitted to a governmental agency to extend the time period for a previously approved document. ...
Clause in a mortgage that allows the borrower to pay more than the monthly amount and to retire the loan early without a penalty. ...
Insurance coverage to pay the balance of the mortgage if the wage earner dies. ...
Air penetrating crevices in a structure. Penetration of water into the earth or through a structure. For example, water infiltrates the basement of a house causing it to be damp. ...
Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
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