West Virginia Real Estate BUNDLED exams 2023 with 100% correct answers

All members of the West Virginia Real Estate Commission must have been residents of the state for at least the previous___________. - correct answer 6 years What are the requirements necessary for a West Virginia salesperson licensee to obtain a broker license - correct answer - Served an appre...

Broker - correct answerA person or company licensed to buy, sell, exchange, or lease real property for others and to charge a fee for these services. Appraisal - correct answerA process of developing an opinion of a property's market value based on established methods and the appraiser's profes...

Bundle of rights of real property - correct answer 1.Possession of Property ol ment usion 5. Disposition ( sell, will, transfer the property. Price Fixing - correct answer When two or more companies collude to set a product's price. Cooperative - correct answer Propriety lease- You ...

What are the types of fee simple estates? - correct answer Fee Simple Absolute Fee Simple Defeasable Fee Simple Absolute - correct answer The best type of ownership you can get. Fee Simple Defeasible - correct answer Subject to occurrences or non occurrences of specified time. Tw...

1. Methods of risk management include: A. Transfer B. Sharing C. Avoidance D. All of the above. - correct answer D. All of the above. 2. An insured has suffered a fire loss to his/her dwelling. This insured is which party to the claim? A. Third party B. First party C. Second party D. Lo...

What is the definition of a public adjuster? - correct answer An adjuster who works for the insured If an insurance company is fined (max $1000) by commissioner, how many days do they have to pay or appeal the fine? - correct answer 30 Days Subrogation occurs when? - correct answer The i...

Broker is ordering the sign for her new firm. Which is NOT a sign requirement? - correct answer Letters at least 2 inches in height The Reason: Every sign shall prominently display the name of the broker, the term "Broker" and the company name, if any, all in letters not less than 1 inch in h...

West Virginia Real Estate exam 2023 with 100% correct answers

FIRREA—Financial Institutions Reform, Recovery, and Enforcement Act of 1989 - correct answer -Required banks to get appraisals on most properties. -Required that certified appraisers be used to perform appraisals -Required that states follow Appraisal Foundation requirements in order to cer...