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A township is a six-mile square that contains 36 square miles called sections. 60 hours of pre-licensing classes for Salesperson; 120 hours of pre-licensing classes for Brokers, but 150 hours if license was inactive for at least 1 year. It contains the promise to pay and is a contract complete onto itself. Then click 'Next Question' to answer the next question. Features of Mississippi Real Estate License Exam Prep (MS-RELEP): National Principles & Law Key Point Review (60 pages) Real Estate Math Key Formula Review & Practice (17 pages) Mississippi-Specific Laws and Practices (23 pages) National Practice Tests (500 questions) Mississippi Practice Tests (100 questions) They provide the licensee with 15 days' notice. A woman borrowed 70% of the value of a lot. Select an area of interest, such as a neighborhood. We have a Salesperson practice tests for all 50 states. We have compiled this simple exam cram book that quickly and easily prepares you to take your state licensing exam and pass it on the 1st try with the PSI exam. Mississippi Real Estate Commission search for test center(s) by: NOTE: NO personal items are to enter the testing center. Which of the following lenders isLEASTlikely to make a home loan? This includes about $200 in licensing costs and the pre-licensing cost of about $199 to $465. A real property transfer disclosure statement is requited to be given by the seller to the buyer. As used in real property law, which of the following defines tenancy? Choices b, c, and d fit the category of "like kind". Sign up today and see if you're ready for your Mississippi Broker Real Estate Exam. Mississippi Real Estate Salesperson Exam: Study Guide & Practice - Practice Test Questions & Final Exam | Study.com Mississippi Real Estate Salesperson Exam: Study Guide & Practice. - Definition & Example, Lesson 3 - Terminology for Real Estate Finance Documents, Terminology for Real Estate Finance Documents, Lesson 4 - What is an Escrow Account? Acquisition means to acquire or receive something. The 5th Edition of Principles of Real Estate Practice textbook is a modern learning tool for the student preparing to enter the real estate business as a licensed Salesperson or Broker. - Definition & Example, What Is a Promissory Note? The woman had a recognized gain, which means taxable gain because she acquired a less expensive property instead of exchanging for one that was equal or greater in value than what she sold. The answers are provided beneath the question set. Take your time, pay attention and if you need help passing your real estate exam, we are here to help. - Definition & Procedure, What is a Contract For Deed? display: flex; Welcome to the Mississippi Real Estate Commission Real Estate Exam Prep Practice 4+ - App Store It covers all of the topics that you will be tested on via video lessons, corresponding transcripts, and practice assessments designed to help you completely grasp the material before taking the exam. It does not refer to leasehold matter as used in this context. The use of property by a debtor to offer a creditor security for a debt, Anything that affects or limits the fee simple title to property, An encumbrance is a burden of some type of title (loan, property, taxes etc). Nothing, because he only needs to disclose a crime if he were convicted before he received his license. Note: The state portion of this review book is not intended to be the Mississippi state law in its entirety. The other choices are possible ways. 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Amortization tables are commonly used to determine the monthly payment of a debt. - Definition, Rules & Examples, Lesson 10 - Types of Contract Breach: Partial, Material, & Total, Types of Contract Breach: Partial, Material, & Total, Lesson 11 - Contract Breach Remedies: Reliance & Restitution, Contract Breach Remedies: Reliance & Restitution, Lesson 12 - Real Estate Contract Clauses: Amendments & Addenda, Real Estate Contract Clauses: Amendments & Addenda, Lesson 13 - The Negotiating Process in Real Estate, Lesson 14 - Termination of an Offer in Contract Law: Methods & Examples, Termination of an Offer in Contract Law: Methods & Examples, Practice test: Real Estate Sales Contracts, Lesson 1 - Property Management: Overview & Role, Lesson 2 - The Role of Property Management in Real Estate, The Role of Property Management in Real Estate, Lesson 3 - Types of Leases in Real Estate, Lesson 4 - Residential & Commercial Lease Provisions, Residential & Commercial Lease Provisions, Lesson 5 - Landlord Rights & Responsibilities, Lesson 6 - Tenant Rights & Responsibilities, Lesson 7 - Property Management: Setting Rents & Lease Rates, Property Management: Setting Rents & Lease Rates, Practice test: Leasing & Property Management, Lesson 1 - What is Title Insurance?
