Ohio real estate Study guides, Class notes & Summaries

Case Law - correct answerRules of law developed in court decisions, as opposed to constitutional law, statutory law, or administrative regulations. or common law Civil Litigation - correct answerA lawsuit in which one individual sues another for compensation. Criminal Litigation - correct answerA lawsuit in which the government sues an individual to punish the wrongdoer and protect society. or criminal prosecution Damages - correct answerAn amount of money a defendant is ordered to pa...

May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? - ANSWER CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive - ANSWER CORRECT ANSWER: agency According to the Statute of Fr...

Ohio Real Estate Exam Questions and Answers (Graded A)Ohio Real Estate Exam Questions and Answers (Graded A)Ohio Real Estate Exam Questions and Answers (Graded A)Ohio Real Estate Exam Questions and Answers (Graded A)Ohio Real Estate Exam Questions and Answers (Graded A)What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - ANSWER-Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply wit...

When may a person use the term REALTOR? - after becoming a member of the National Association of Realtors What are advantages to a career in real estate sales? - - Possibility of owning your own brokerage with additional training , education, and experience - potential for unlimited earnings - setting your own hours What is a disadvantage of a career in real estate sales? - Not a steady income Most sales persons are hired as? - independent contractors Which is an area of specialization ...

every viewable web page of the website - correct answerWhen advertising real estate online where should the brokerage name be displayed? a. 40 b. 20 c. 20 d. 40 e. 20 f. 30 - correct answerHow many hours are needed for the following: a. Principles and practices b. real estate appraisal c. real estate finance d. real estate law e. post licensing course within 1 year of passing exam f. continuing education Automatically suspended - correct answerIf a real estate licensee fails to ...

Ohio Real Estate Principles & Practices Questions and Answers Ohio Real Estate Principles & Practices Questions and Answers Ohio Real Estate Principles & Practices Questions and Answers Periodic Tenancy - ANSWER-Leasehold estate for a duration of time, not a specific date. Alienation - ANSWER-The transfer of ownership or an interest in property from one person to another, by any means. Allodial System - ANSWER-The system of land ownership under which anyone can own land. Annex...

Ohio Real Estate Exam Practice QuestMay a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? - ANSWER CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive - ANSWER CORRECT ANSWER: agen...

May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? - ANSWER-CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive - ANSWER-CORRECT ANSWER: agency According to the Statute of Fr...

What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - correct answerConditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - correct answerThe amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan? - correct answerno MIP insurance FHA loans use a mut...