Michael Lustig - Real Estate Finance in California

Copyright 2011 Real Estate License Services,Inc.

Smashwords Edition

Course by Corespondence.
For Qualification For a California Real Estate Broker
License or to Extend a California Real Estate Sales License(D.R.E.Approval #1223-90)

New Department of Real Estate Rules Allow Youto Avoid All Quizzes and to Go Straight to Your Final Exam, Whichis Open Book! You May Suggest Your Own Test Administrator Also! ForDetails, Please Turn This Page and Read the StudentInstructions/General Information Page.

REAL ESTATE LICENSE SERVICES
5059 Newport Avenue, #209
San Diego, CA 92107
(619) 222-2425

Includes Student Instructions, QuizQuestions and Answers, and Page References for the Quiz Questionsfor the Course Real Estate Finance. Please Read and follow thecomplete Student Instructions just after this page.

Copyright 2011, 2003, 2000, 1991, 1990, 1989,1988, 1987, 1983 Real Estate License Services, Inc. Copyrightregistered. All rights reserved. No part of this material may bereprinted, reproduced, transmitted, stored in a retrieval system,placed in a computer or on the Internet, or otherwise utilized, inany form or by any means electronic or mechanical, includingphotocopying or recording, now existing or hereinafter invented,nor may any part of this course be used for teaching withoutpermission from the copyright holder.

STUDENT INSTRUCTIONS/GENERAL INFORMATION

The California Department of Real Estate DOESNOT REQUIRE COMPLETION OF QUIZZES OR ESSAYS PRIOR TO YOUR FINALEXAM. Study the "Written Assignment" questions based on the chapterreadings as well as the answers with page references that are onthe following page. YOU DO NOT NEED TO SEND IN ANY "WRITTENASSIGNMENT" ANSWERS. To complete this course, just study thepractice questions and answers, take the final exam online or onpaper and, if on paper, make sure the final exam question sheetsand completed Scantron answer forms are returned to us along withthe completed "Certification of Test Administrator." THE FINAL EXAMIS OPEN BOOK. If you have any questions, please call (619)222-2421.

1) This course consists of text reading and afinal examination.

2) Practice questions ("Written Assignments")covering most of the chapters in the book are based on the textreading in each chapter. Answers to those practice questions (withpage references) are included for your convenience and may be foundon the page after this page. The "Written Assignments" are for yourpractice only. NO QUIZ QUESTIONS ARE REQUIRED PRIOR TO YOUR FINALEXAM.

3) The minimum time limit to complete onecourse is 20 days from the date of enrollment. The maximum timelimit to complete one course is six (6) months from the date ofenrollment. Two three (3) month extensions may be obtained (seesection below on Extensions and Re-enrollments). Under nocircumstances can your enrollment last beyond twelve (12)months.

FINAL EXAMINATION: When you are ready to takethe final test, please fill out the form "Request To Take FinalExam." You may mail it to Real Estate License Services, 5059Newport Ave., #209, San Diego, California 92107, or fax to (619)222-8593. Real Estate License Services will arrange for your finalexamination online or with a test administrator. If your final examis not online, you may suggest who your test administrator will be.The examination consists of 100 multiple choice questions and youmust complete it within 150 minutes (2.5 hours). When you finishthe test, If your final exam is not online, turn it in to the testadministrator, who will mail it to Real Estate License Services.The questions used for the final exam must be mailed to Real EstateLicense Services along with the answers.

GRADING OF THE FINAL EXAM AND ISSUING OFCERTIFICATES: A passing grade is based on a minimum passing scoreof 60% on the final examination. Only the final examination gradeis used in determining the student's overall grade. Students willbe assigned a letter grade, but the grading system reflects the 60%passing requirements.

% OF POINTS = GRADE
100% - 90% = A
89% - 80% = B
79% - 70% = C
69% - 60% = D
59% - 0% = Fail. In this case the course would have to berepeated and passed in order to receive credit.

An official certificate of your course gradewill be mailed to you within two weeks after receipt of yourcompleted final examination if taken with a test administrator.Additional certificates are $15.00 each.

REFUNDS: Students may apply in writing toREAL ESTATE LICENSE SERVICES, mailing address, 5059 Newport Ave.,#209, San Diego, California 92107 within 15 days from the date ofenrollment and cancel and receive a refund for the full tuition.All REAL ESTATE LICENSE SERVICES materials must be returned in goodcondition at the time of cancellation; the materials should not besoiled, torn or marked upon. Refunds are not allowed if any workhas been submitted.

EXTENSIONS AND RE-ENROLLMENTS: If the coursehas not been completed within six (6) months of enrollment, thestudent may receive an extension of three (3) months by paying anextension fee of $35.00. If at the end of that three monthextension the student still has not completed the course, a secondthree (3) month extension may be obtained by paying an additionalfee of $30.00. IN NO CASE MAY THE PERIOD OF ENROLLMENT EXTENDBEYOND TWELVE (12) MONTHS. If the student has not completed thecourse within 12 months from the original date of enrollment, theenrollment expires and no further extensions are allowed. Thestudent must re-enroll and begin the course over again in order tocomplete the course. The student may re-enroll under suchcircumstances for a discounted re-enrollment of $40.00 percourse.

TRANSFERS: Courses may be transferred toanother person by paying a transfer fee of $30.00 per course.Transfers are not allowed if any work has already beensubmitted.

To finish this course, you need to do thefollowing:

1. Quizzes areNOTrequired. Included below are the answers to the questions at theend of each chapter. Page references for topics in each questionand answer are also listed. Read the book and study the questionsand answers. You may take your final exam 18 days after havingpossession of the textbook.

2. When you are ready to take the final exam,please fill out the form "Request To Take Final Exam," and fax to(619) 222-8593 or mail to: Real Estate License Services, 5059Newport Ave, #209, San Diego, CA 92107. Real Estate LicenseServices will arrange for your final exam online or with a testadministrator.

Answers with Page References to PracticeQuestions at the end of Each Chapter in the Textbook:

TABLE OF CONTENTS

The process of financing real estatetransactions involves many variables. It does not take place in avacuum. Many factors interact together. These conditions comprisethe real estate financial environment.