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
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The minimum age required for legal competency ( in most states 18 years). ...
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Day the attachment of property under a judicial order becomes effective. ...
Secondary written agreement to purchase real property in the event the initial contract is not signed. ...
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