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
Ambiguous contractual language that may result in an unsuspecting buyer of a real property incurring obligations or risks not clearly evident. ...
Amount still unpaid at a particular date on a loan or other financing agreement. ...
The term foreign direct investment (FDI) refers to the purchase of an interest in a company from an investor or company that is located outside of the borders of the company in which the ...
Originally strips of wood approximately 1 to 1 1/2 inch wide, 1/4 to 3/8 inch thick by approximately 4 ft. long which were nailed across the wall studs for the purpose of supporting ...
Also called a rollover mortgage. Provides a borrower with a fixed-rate mortgage that expires at a preestablished time, such as in four years. This permits the lender and borrower to ...
protective wall along a roof or below a terrace. ...
Precisely the optimum location for a retail business establishment in an urban central business district (CBD). A one-hundred-percent-location normally is a square block or intersection in ...
Legal dictate that must exist for property to be owned as joint tenants. ...
Heterogeneous (as opposed to homogenous) means diverse in nature applied to a place or object composed of separate and distinct parts. In other words, heterogeneous describes something that ...
Have a question or comment?
We're here to help.