놓치면 안될 부동산 시험 문제 #1

개인적으로 시험에서 나왔던 문제를 뽑아봤습니다. 대부분의 경우는 간단한 단답형 문제였으나, Disclosure 와 Appraisal 의 경우는 긴 응용 문제가 많고 출제문항도 많아 첫번째 시험에서 애를 먹었습니다. 두번째 시험에서는 각종 기관에 대한 문제가 제법 출제되어 헷갈렸습니다. 두번의 시험을 치뤘지만 중복되었던 문제는 거의 없었습니다. 참고하시어 합격하시길 기원합니다.

 

Encumbrance (restriction : 제한)

 

Encroachment (침범)

Easement (dominant tenement / servient tenement / 5 years / prescription / right of way)
=> quit claim deed
difference of license & easement (revokeable)

Easement in gross (in gross / out gross / utility company)

Eminent domain = Condemnation (정부->개인) <=> Inverse Condemnation (개인->정부)

CC&R : Covenant (promise) / Condition / Restriction (the most)

Police power : Zoning, Health, Fire, Real estate law, Morals, Safety, General welfare

Voluntary lien : trust deed, mortgage

Involuntary lien : mechanic’s (specific lien), judgement, attachment, tax, assessment
// Mechanic’s lien (general constructor 90 days / sub constructor 60 days / lien 걸리는 시점 : 공사 시작 시점) //

<=> Homestead (자산보호)

Fee simple defeasible / qualified > Police power

 

Real Estates

 

Real property (immovable / affixed / appurtenant)

Bundle of right (possession, use, enjoyment, encumber, transfer)

Method of attachment, adaptability, relationship of the parties, intention, agreement = MARIA

Stock in mutual (real property) /Trade fixture & Emblements (personal property)

Riparian right (River…) /Littoral right (Lake…)

Lland : no depreciation

Metes and bounds (ex. 6th st + catalina ave)

one township : 6 miles x 6 miles

Freehold estates (fee simple / absolute) > fee simple defeasible / qualified

Less-than freehold estates – leasehold estates = chattel real

Estate in remainder / reversion

Joint tenancy => Tenancy in common

Community property : husband & wife

Angency Relationship

 

Agency renewal : every 4 years

Agency (fiduciary duties) relationship : agreement / ratification / estoppel

Agency relationship termination

dual agent : consent of seller and buyer

exclusive right to sell / exclusive agency / open listing / net listing / option to buy listing

disclosure, elect, confirm / DEC

licensee referral fee : $500

kickback : unlawful

unlicensed person violation
: $100 for each offense up to $20,000 or imprisonment up to 6 months / corporation $50,000

recovery account : $50,000 for each transaction / $250,000 for any one licensee

a company dollar(- commission) / desk cost (- all expenses)

commingling => trust account overage (해결방법 ?)

conversion (횡령)

misrepresentation : innocent / negligent / fraudulent

safety closure : usually 180 days

arbitration (중재재판 – real estates board)

Appraisal

appraisal “cost is not an essential element of value” : price, cost, value

original cost + improvements – accrued depreciation = book value

DUST / demand, utility, scarcity, transferability

1. sales(or market or data) comparison approach (SFR 1~4 units) => difference adjust

2. cost approach => replacement cost (new commercial or unusual building) / reproduction cost (historical)

3. income capitalization(or income) approach =>

gross schedule annual income – annual vacancy factor = effective gross income
gross income – total expenses = net operation income
net operating income / cap rate = value of property

conformation / progression <=> regression / highest and best use

plottage / assemblage => increase value (merge) <=> subdivision (divide) => increase land value(income)

three main depreciation : physical deterioration / functional obsolescence / economic oblsolescence

actual age / effective age / economic life

setback / depth table / strip commercial

Construction

roof : HIP (four slides) / pyramid / gable (two slide)

backfill / infill / stud / crawl space

Style :

contemporary : contemporary architecture borrows many of its core elements from the long history of modern design, including clean lines, open spaces, and minimalist design

modern : architects designed modern spaces with open floor plans, absence of ornamentation, and an emphasis on the natural materials and surroundings of the home

Ranch / Rambler : the “California Ranch”, modernist homes with its open layout, indoor/outdoor entertaining spaces, and large windows.

A-Frame / Art Deco / Cape Cod / Colonial / Condominium / Contemporary / Cooperative / Cottage / Bungalow / Craftsman / Dome / Modern / Duplex, Townhome, Row House / Foursquare, Prairie Box / Greek Revival / Houseboat / Italianate / Loft / Modern / Northwest Contemporary / Pacific Lodge / Prefab / Pueblo Revival / Ranch House/Rambler / Spanish Eclectic / Tudor Revival / Victorian

 

Financing

 

fixed / VRM / ARM

buydown (=discount)

novation : the substitution of a new obligation for an old one

mortgage : judicial foreclosure / deficiency judgement (statement – 판매차액 배상)

trust deed : trustee’s sale (original loan에 대해서만 판매차액 배상 안해도 됨)

=> loan paid => reconveyance deed (양도증, 3주 이내)

redemption period : 5 years

promissory notes (evidence of debt)
straight / partially amortized installment (balloon payment) / fully amortization / adjustable

clause
acceleration / alienation / “or more” / subordination / release / power of sale /prepayment penalty / assumption / subject to

negotiable instrument (written instrument that transferred by endorsement or delivery

package loan / blanket loan (release clause) / open end loan / swing loan / wrap around loan

federal agencies in real estate finance
HUD / FHA / FRB (reserve / discount rate / open market operation)

institutional lender : savings bank(main source for home loan) / commercial bank (short term, construction loan) / insurance companies / credit union / mutual savings bank)
non institutional lender : mortgage companies / private individuals (REIT : 100 or more investors) / non financial institutional

conventional loan (Not government) – non conventional loan (FHA / VA / Cal-Vet)

FHA : 97%, insured loan, investment
VA loan : 100%, guarantees loan, owner ocupied only
Cal-Vet loan : 100%, land contract, need a life insurance, owner ocupied only

RESPA (a good faith estimate of closing cost) > Truth-In-Lending Act (compare, APR)

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3 Comments

  1. 시험공부하면서 정리도 안되고 , 막막한점이 있었는데 이렇게 정리를 잘해놓으셔서
    넘넘 감사합니다

  2. 중요 포인트를 키워드로 잘 정리해주셨네요. 마지막 점검에 큰 도움이 될 것 같아요. 너무 너무 고맙습니다!!👍👍

  3. 도움이 될려나 모르겠지만 틀린 답이 있을 수도 있으니…발견하시면 알려주세요. 나중에 문제도 기억나는대로 올릴께요. 시험 잘 보세요^^ 화이팅~

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