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
Income for investors arising from net long-term profits of a real estate mutual fund realized when the portfolio is sold at a gain. Fund managers pass on profits from sales of real estate ...
Map showing the kinds of soil in a designated locality. ...
Early American architecture modeled after the English Georgian architecture having two or three stories with a rectangular design and ample ornamentation often including a widow's walk. ...
percentage relationship of a specific part of property to the whole property. An example is the square footage of one office to the square footage of all offices in an office building. ...
A financial obligation comes in several ways. In general terms, the meaning of liability refers to the amount of money an individual or company owes to a lender. We define the party holding ...
Thin wood that is shaped in a wedge and laid together in rows. An example is a roof on a house. ...
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 ...
One that is legally binding because it is in conformity with legal requirements and conditions. ...
Compensation representing the fair market value of a property taken in an eminent domain action. Foe example, Brian received $150,000 for his home which was condemned in an eminent domain ...
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