Michigan salespersons Study guides, Class notes & Summaries

License Fee correct answers -$88.00 to obtain a three year license Continuing Education correct answers -must complete no less than 18 hours of continuing education to renew for 3 yr cycle, with minimum requirement each year -no less than 2 hrs of legal updates each yeah and 18 hrs total over 3 year license Brokers License correct answers -required for purpose of entering into contract w/ consumers -can only be issues to one legal entity or one person at a time -must have no less than 3...

"Barriers Free" Addition to ADA in 1991 - -any building built from 1991 onward had to be built barrier free -must make accommodations for tenants of single family residential homes at the tenants expense -landlords can require money up front, as well as monies for restorations (apartments must also comply) 1866 Civil Rights Act - -prohibits discrimination on the basis of race only -has no exceptions/exemptions to the rule 1968 Federal Fair Housing Act - -shall not discriminate on the bas...

Michigan Salesperson's Exam questions with complete solutions graded A+

Michigan Builders License - All questions for the 60 Course Questions with correct Answers A layer of new wood on a tree just under the bark is called __________. · Xylem · Sap · Cambium · Phloem Cambium The Department and the __________ may remove a limitation. Hearing Examiner Director Board Commission Board A salesperson shall turn over money for a sale to their licensed builder Immediately Within 10 days Within 48 hours Anytime ...

PSI Real Estate Michigan State Licensing Exam – Complete Questions & Answers (Graded A+) PSI Real Estate Michigan State Licensing Exam – Complete Questions & Answers (Graded A+) The law regulating the licensing of occupations in Michigan is known as - ANSWER-1.) Occupational Code PA 299 of 1980. (Answer) 2.) Michigan License Act 152 of 1979. 3.) Administrative Rules for Michigan Licensing. 4.) Michigan Code of Ethics. Which of the following persons would NOT need a real estate lic...

MI state Exam practice 120 Questions with Verified Answers After accepting an offer in writing, if a seller withdraws acceptance and cancels the transaction, which of the following is TRUE? - CORRECT ANSWER The broker, having facilitated a written acceptance of an offer, is entitled to compensation and may sue the seller for the commission. A realty company has entered agency agreements with both the sellers and the buyers in the transaction of a property. Is this allowable? - CORRECT ANSW...

Michigan Real Estate Broker Exam Study and Glossary Questions With Correct Answers 2024 Update A broker's license is required if you are engaging in more than _______ real estate sales in a __________ month period. - Answer -5,12 How many principal associate brokers licenses may a person hold - Answer -unlimited How many non principal associate brokers licenses may a person hold - Answer -1 Paper is power of attorney, person is attorney in fact (TRUE FALSE) - Answer -TRUE How muc...

PSI Real Estate Practice Exam - Michigan (Chapter 1) Graded A+ Designated Agent ️A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach ️What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assignee" ️Ch...

PSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% AccuratePSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% AccuratePSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% AccuratePSI Real Estate Practice Exam - Michigan (Chapter 1) Questions and Answers 100% Accurate Designated Agent - ANSWER-A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two...

PSI Real Estate Practice Exam - Michigan (Chapter 1)Designated Agent - correct answer A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - correct answer What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assign...