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
Structures added to framing to increase overall strength and stability. Various types of bracing include cables, rods, struts, ties, shores, additional framing, etc. ...
Demise indicates the act of “granting a lease of property” in legal terms. A demising clause refers to a particular provision of housing requirements based on family size, ages, ...
A will where the decedent's nomination of an executor/executrix is flawed, requiring an administrator to be appointed by the court and annexed to the will. ...
Analysis of a real estate sales data to appraise real estate values. Sources of real estate sales data used in the market data approach include the official records of deeds and leases ...
loan that is not secured by a mortgage on a specific property. It is backed only by the borrower's credit rating. Unsecured loan are typically short term. The disadvantages of this kind of ...
Individual or business transferring a right or benefit to another person or business. ...
Arrangement the insured and insurer share on a proportional payment for a loss. ...
The term after-tax rate of return calculates an investor’s net return after income taxes. The calculation is used by many businesses and investors to determine their real earnings. ...
An individual's bringing a legal action against a defendant. The plaintiff wants relief from the judge against a defendant. An example is investors in a real estate investment trust (REIT) ...
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