Principles Of Real Estate 1 Final Exam With
Correct Solutions 2025
If a real estate salesperson closes on a transaction, who pays the salesperson their
commission? - correct answerThe salesperson's sponsoring broker
A means of comparing similar type properties, which have recently sold, to the subject
property is known as the? - correct answerMarket Comparison Approach
The market comparison approach is commonly used for this property type? - correct
answerResidential
The amount of goods offered for sale within a given market at a given price during a
given time period is known as? - correct answerSupply
A real estate agent is an example of what type of agent? - correct answerSpecial agent
A refrigerator is typically considered? - correct answerPersonal Property
Mobile homes not permanently attached to the land are generally considered? - correct
answerPersonal Property
Which of the following is considered a legal test for determining if an item is a fixture or
not? - correct answerMode and permanence of how the item was attached
Adaptation of the item
Intention of the parties
All of the above
The right of exclusion, which allows a landowner to prevent others from entering or
occupying their property, is included in the? - correct answerBundle of rights
Which of the following is an example of a fixture? - correct answerKitchen cabinets
Which of the following is an advantage to owning a home? - correct answerPotential for
asset appreciation
Tax benefits
Pride of ownership
All of the above
An individual who has not owned real property for at least the previous two years is
known as a? - correct answerFirst-time homebuyer
