Real Estate Principles Unit 14 multiple choice 2

A real estate licensee can sell

• A new mobile home

• A one-year-old mobile home

• A mobile home over 31 feet in length

• Any mobile home with a deed

Which of the following documents is used to transfer ownership of a mobile home?

• Certificate of title

• Deed

• DMV vehicle registration certificate

• Bill of sale

In a Security transaction in personal property, the document used to perfect the security interest is called the

• Promissory note

• Security agreement

• Mortgage

• Financing statement

In the sale of business opportunity the Notice to Creditors of Bulk Transfer must be recorded at least how many days before the auction has to commence?

• 12 business days

• 14 business days

• 18 calendar days

• 21 calendar days

Which of the following provides an investor with the best hedge against inflation?

• An investment with high liquidity

• A high risk, high income deed of trust

• An income property that will maintain its value

• An investment with the characteristics of an annuity

When considering investment opportunities in real estate, a real estate investor would probably devote the least attention to

• Protection against inflation

• Quantity and safety of annual income

• Quantity and safety of the initial capital outlay

• Liquidity of any capital invested

Which of the following is the best example of leverage?

• Investing primarily personal funds

• Investing personal and borrowed funds equally

• Investing primarily borrowed funds

• Investing in properties with diminishing values

An appreciation in value of a mortgaged home generally accrues to the benefit of the

• Trustor

• Beneficiary

• Trustee

All of the following would be considered boot, except

• Cash

• Antique furniture

• Vacant land in the outskirts of a large city

• A commercial fishing boat

In a probate sale, the amount of a commission to be paid a real estate agent is set by the

• Owner

• Executor

• Administrator

• Court