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
Provision in a commercial lease providing a financial allowance for a tenant to finish the interior of a building according to individual requirements. ...
Writ issued by the court requiring a person to appear as a witness or to provide written information in the case. A contempt of court citation may occur for failure to observe the subpoena. ...
(1) Written statement by a responsible individual or entity of the correctness and reliability of something. (2) Written permission to do something, such as receiving a real estate ...
The right to deviate from the use of land prescribed by an existing zoning ordinance. ...
Portion of a construction loan withheld by a lender from a contractor until all construction work is satisfactorily completed or sufficient space is rented in a floor loan. The holdback ...
Tank placed beneath the ground to accumulate sewage. ...
Continuous beam on top of supporting walls, usually constructed of concrete and often having steel rods for additional strength placed within it. Supplies lateral support as well as ...
Earthquake insurance is the type of insurance policy that specifically covers damages to your real estate caused by seismic activities. It can refer both to the rare coverage against ...
An insect, such as a termite, that "eats into" the wood and destroys it. This can cause significant damage to the home. Most states have laws that require termite inspection and ...
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