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
Ratification is typically required when an individual makes a decision. Still, they don’t have the legal authority to make it legally enforceable. In everyday discourse, ratification ...
The quality of life enjoyed by a person depending on factors such as spendable income, housing conditions, health and education. ...
Use of borrowed funds to enhance expected returns. It is anticipated that the investment will earn a return exceeding the after-tax cost of borrowing. ...
In regards to , in the matter of. Formal judicial method of entitling a matter before it. ...
Financial standing of a debtor as a basis to pay obligations. ...
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee ...
Property held by an individual, such as furniture. ...
The term foraging comes from the old germanic language, which passed through Old French “fuerre” and “fourrage” and it means the search for wild food resources. ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
Have a question or comment?
We're here to help.