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
Intentionally misstated or undisclosed facts, statements or representations. Misrepresentation is a form of fraud which could lead to cancellation of a contract or other liability. For ...
What Is a Real Estate Bubble? One definition for a real estate bubble is the fast increase in prices, usually driven by investors and speculators in major urban areas. Properties are ...
The definition of acquisition cost in real estate is the total cost recorded by a company or individual pertinent to the purchasing of a property. This is the entire amount written down in ...
System of interconnected pipes, radiators, and/or ducts designed to heat a building utilizing a main heating unit. The system is controlled through a thermostat that regulates the ...
Accelerated depreciation method in which the amounts recognized in the early years of the property's useful life are greater than those recognized in the later years. The SYD is found by ...
Home of 1 to 3 stories with stucco outside and a roof made of red tiles. ...
The definition of a bedroom community, or commuter town in real estate is a unique type of community that merely uses their homes to sleep, while doing everything else offsite. In a bedroom ...
The real estate world features many tricky terms and concepts. One that often sneaks up on even the most experienced buyers and sellers is the "red herring." What is the meaning of red ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Have a question or comment?
We're here to help.