Real Estate License Exam 2024 Graded A+

The discount charged by a lender and paid on a VA loan is a percentage of the A. sale price. B. down payment. C. loan amount. D. appraised value {Ans: C. loan amount.}A ten-year-old structure has an effective age of eight years. Total economic life is estimated to be 55 years. Reproduction cost new of the structure is $300,000. What is the accrued depreciation for this structure? A. $45,500 B. $43,500 C. $35,890 D. $22,450 {Ans: B. $43,500}A properly executed contract that has as its purpose an illegal objective is A. valid and enforceable. B. legal but depends on voluntary performance. C. void and unenforceable. D. valid but not enforceable {Ans: C. void and unenforceable.}Rent for the use of money is called A. interest. B. credit. C. devise. D. return. {Ans: A. interest.}An easement created by court order to allow the right of ingress and egress over another person's property to landlocked property is which type of easement? A. Easement by prescription B. Easement by necessity C. Easement by condemnation D. Easement by adverse possession {Ans: B. Easement by necessity}A subdivision plat map A. is developed by the tax assessor's office for tax assessment purposes.