





Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
A collection of multiple-choice questions and answers related to real estate principles and practices. It covers various aspects of real estate, including property ownership, contracts, financing, and legal considerations. The questions are designed to test knowledge and understanding of key concepts in the field.
Typology: Exams
1 / 9
This page cannot be seen from the preview
Don't miss anything!
safest tactic" "A developer of a subdivision does not want "clotheslines" to be installed in the houses in the subdivision. A way for the developer to have control to limit and fine people who want to install
"A real estate committee met and decided to simplify real estate in an area by having one
is price fixing" "A couple is moving to a new city. They are renting a house temporarily before buying a house.
"A lender who forecloses on a property and sells it later for less than what was owed has the right
"Fair housing law allows seniors to have separate housing if 80 percent of the units are occupied by at least one person age 55 or older. This exemption allows
broker a commission if the property sells during the contract" "A seller is selling their house for $300,000. They agreed to pay a
"A broker states "this is the best house in the neighborhood," and the buyer purchases the home. Later the buyer finds out it is not the best house in the neighborhood. Can the buyer sue the
"When a buyer and a seller enter into a purchase agreement (contract of sale), the legal remedy
"A seller tells the listing agent that her home was treated for termites 10 years ago, so there are
seller to disclose the termite treatment on the property disclosure" "In order to calm the fears of a buyer who is getting an Adjustable Rate Mortgage, what
adjustments called a cap"
"As licensees usually work as independent contractors, a broker will have a contract
Statement that FICA (taxes) are the associates responsibility"
earnest money is refunded" "Agent A has been working at Brokerage for 4 years. Agent has listed and sold many but desires to
company and train under them" "A seller is listing their $350,000 house. They state their property tax bill is $1,110 per year. What
"A married couple owns a property together as tenancy in entirety. Which of the following about
the conveyance"
Market Analysis (CMA)"
salesperson" "A commercial property lost value because a recently constructed highway directed traffic away
broker" "At the closing on June 15, the buyer is assuming a mortgage presently on the property, on which the monthly interest charge is currently $600. The seller has made the payment due on June 1.
seller $300; debit buyer $300" "Two buyers bought a house with a $178,000 mortgage. The interest rate is 6 1/2% per annum payable for 30 years. To the nearest dollar, what is their monthly principal
"At the time of listing, the seller tells the listing agent they are moving because the neighbor has
"What is the payment difference on a loan amount of $220,000 with a 15 year, 5.5% interest
"A buyer and seller have a contract which states the buyer can buy the property for $120,000 and
"A buyer wants to have a home business in a residential neighborhood. The broker should advise
Liquidity" "A broker lists a property and begins marketing it. The seller sells the property to a neighbor and
"A potential buyer was turned down for a mortgage loan because of the high crime rate where
into the building"
Statement regarding how to earn commission" "The renter of a property has recently become disabled and can no longer walk. The tenant needs a ramp to gain access to the property. What must the landlord
agreements" "A tenancy in which the lessee remains in possession of the property without the lessor's consent
"when a borrower wishes to obtain a loan in excess of 80% of the property's value, the lender is
"The listing broker has done a visual inspection of the property and found no issues. The seller's property disclosure states there are no problems. After closing, the buyer finds long-standing issues with water entering the basement.
disclose"
which the licensee is aware" "In order for a property manager to determine the net operating income for the investor/owner,
Operating expenses" "The owners of a cooperative
assessments"
Water Rights"
"Which one of the following governmental rights in property does not allow the government to
"A titleholder of a piece of real estate has passed away and in their will, they are leaving the property to their son. The son wishes to sell the property. What type of deed would the son sign
“A legal description in land that includes language like "the old oak tree" or "the big rock" would
"As a licensee is showing a property contiguous to a lake, the licensee notices that the lake has a
growth."
"The local governments have authority to ensure that properties are being built properly. Under
Construction standards" "An agent goes door knocking in a subdivision. As part of his presentation, he makes mention of the fact that many families with children are moving into the area and that house prices are rising. He then recommends the owner should sell because he has a nice quiet
Yes- he is blockbusting by playing on the fears of consumers of protected class." "While performing an analysis of value for listing a house, all of the following would be
"A buyer makes an offer on a property that the seller accepts. While waiting for an inspection, the buyers see another property that they like even better. They draft an offer on that property which is accepted by that seller. What statement about the offers is true?
"A prospective buyer makes an offer to buy a house. The owner counter-offers. While the buyers are reviewing the counteroffer, the owner receives a better offer. The owner can accept the
buyer accepts-it"