Dee your presentation of these test questions is priceless. The fact that you explain why the wrong answers are wrong by itself is so helpful. Thank you for clarifying these answers. I will quote you at the beginning of this video “they are not testing you for textbook definitions” you are right!! Seems that in order to master and pass this exam you need to master the English language because they are expecting the test taker to be able to interpret the law like an attorney, dissect real estate concepts like a broker, approach the valuation and appraiser as an appraiser, interpret contract law like an expert and understand this field like a broker!! I’m just glad I stumbled on your videos and purchased your books which helps my brain to approach this field in a more comprehensive way. I am building confidence every day with your help. Forever in debt to you and Kate
Yes you’re definitely going to find some “tricks”! The best advice I can give is to always read every question twice, and read ALL answer selections before answering! Glad we can help and yes, Kate is the best!! 😎
I have my exam today and I found Mr. Kumar’s videos last night, I went to bed watching these videos and I woke up today watching these videos. The way you explain it is so awesome to the point where understanding and remembering is so easy and I’ve watched a lot of other videos, a lot; for someone like myself where English is not primary language, you make it so easy to listen and understand! I’m so glad I’ve encountered yours! Please continue helping all of us in need of your wisdom!🙌🏼💪🏼
Grab 400 real estate practice questions + over 300 vocabulary words in our NEW Real Estate Practice Exams & Vocabulary Review on Amazon: www.amazon.com/dp/B0CYTL79JB
Hi if I’m asked a math questions let say the house purchased for 500000 with 15 % interest, 2.5 discount points how much does the buyer have to put down as a down payment in order to qualify for this loan? Can please help? Because I’m not sure if I have to put the fees into the down payment? Thank you and have a wonderful day.
Hi @jenniferlaurent2535, thanks for the question! Down payment is different than closing costs (which includes discount points). The points are based off of the LOAN amount, not the purchase price, so the cost of those 2.5 points in your example would depend on the down payment. So for example, if you put $100,000 down, the cost of the points (usually 1% per point) would be based on the $400,000 loan, not the full $500,000 purchase price. So 2.5 points in this scenario would equal $10,000. The interest is an annual premium charge that is spread out monthly in the mortgage payment, so the interest rate wouldn't affect the down payment, cost of the discount points, or closing costs. I hope this helps!
@@DeeKumarOnline . Thank you. I will think about the 200 national exam thank you very much; but my question was that does the buyer have to pay part or some of the points in the down payment? Depending on what the lender requires?
@@jenniferlaurent2535 it depends on the lender's requirements - some loan programs require as little as a 0 - 3.5% down payment. But again, the down payment is completely different than points. There are loan origination points which are fees the lender charges, and then there are discount points which are essentially pre-paid mortgage interest which bring the interest rate down.
There are different opinions on this one but NAR considers it ableism because not everyone can walk. Always make sure you are choosing the best available answer, even if the question/answers aren’t ideally worded. You may see some curve balls like this!
This is national content, always refer to your state-specific contract laws for the state portion of the exam material. But generally speaking, a contract entered into by a minor may be canceled by the minor or by his or her guardian and is voidable, not void.
![50 Real Estate Exam Questions and Answers Review [2023]](http://i.ytimg.com/vi/kBYxnZ2jGGc/mqdefault.jpg)
😎 Grab a FREE practice exam here: agentbuilder360.com/free-exam-optin
Dee your presentation of these test questions is priceless. The fact that you explain why the wrong answers are wrong by itself is so helpful. Thank you for clarifying these answers. I will quote you at the beginning of this video “they are not testing you for textbook definitions” you are right!! Seems that in order to master and pass this exam you need to master the English language because they are expecting the test taker to be able to interpret the law like an attorney, dissect real estate concepts like a broker, approach the valuation and appraiser as an appraiser, interpret contract law like an expert and understand this field like a broker!! I’m just glad I stumbled on your videos and purchased your books which helps my brain to approach this field in a more comprehensive way.
I am building confidence every day with your help. Forever in debt to you and Kate
Yes you’re definitely going to find some “tricks”! The best advice I can give is to always read every question twice, and read ALL answer selections before answering!
Glad we can help and yes, Kate is the best!! 😎
Exam is Thursday! Wish me luck. Been binging your videos like crazy
Good luck dude! Take each question with confidence…you got this:) let us know how it goes!
I have my exam today and I found Mr. Kumar’s videos last night, I went to bed watching these videos and I woke up today watching these videos. The way you explain it is so awesome to the point where understanding and remembering is so easy and I’ve watched a lot of other videos, a lot; for someone like myself where English is not primary language, you make it so easy to listen and understand!
I’m so glad I’ve encountered yours! Please continue helping all of us in need of your wisdom!🙌🏼💪🏼
Good luck today! Be sure to read each question twice and always read ALL of the answer choices before making your selection 🙂🍀
Great questions! Thank you for the clarification.
You’re welcome! Glad you enjoyed them 👍
Prepping for my exam, and your videos are such a huge addition to my studying. Thanks!!
I'm so glad, happy to help! Good luck 🍀
Rock on. You got this
Thanks lunar sahab
You’re welcome! Thanks for watching Mama Amna 😀
Grab 400 real estate practice questions + over 300 vocabulary words in our NEW Real Estate Practice Exams & Vocabulary Review on Amazon: www.amazon.com/dp/B0CYTL79JB
Hi if I’m asked a math questions let say the house purchased for 500000 with 15 % interest, 2.5 discount points how much does the buyer have to put down as a down payment in order to qualify for this loan? Can please help? Because I’m not sure if I have to put the fees into the down payment? Thank you and have a wonderful day.
Hi @jenniferlaurent2535, thanks for the question! Down payment is different than closing costs (which includes discount points). The points are based off of the LOAN amount, not the purchase price, so the cost of those 2.5 points in your example would depend on the down payment.
So for example, if you put $100,000 down, the cost of the points (usually 1% per point) would be based on the $400,000 loan, not the full $500,000 purchase price. So 2.5 points in this scenario would equal $10,000.
The interest is an annual premium charge that is spread out monthly in the mortgage payment, so the interest rate wouldn't affect the down payment, cost of the discount points, or closing costs.
I hope this helps!
@@DeeKumarOnline . Thank you. I will think about the 200 national exam thank you very much; but my question was that does the buyer have to pay part or some of the points in the down payment? Depending on what the lender requires?
@@jenniferlaurent2535 it depends on the lender's requirements - some loan programs require as little as a 0 - 3.5% down payment. But again, the down payment is completely different than points. There are loan origination points which are fees the lender charges, and then there are discount points which are essentially pre-paid mortgage interest which bring the interest rate down.
How is walking distance to public transportation discrimination?!
There are different opinions on this one but NAR considers it ableism because not everyone can walk. Always make sure you are choosing the best available answer, even if the question/answers aren’t ideally worded. You may see some curve balls like this!
A minor entering a real estate in california makes the contract void
This is national content, always refer to your state-specific contract laws for the state portion of the exam material. But generally speaking, a contract entered into by a minor may be canceled by the minor or by his or her guardian and is voidable, not void.