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Gold Coast School Real Estate Questions Ch.1-19 questions with answers
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Gold Coast School Real Estate Questions Ch.1-19 questions with answers
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Gold Coast School Real EstateQuestions Ch.1-19 questions with
answers
1. The real estate market is local in nature what does that mean? - ANSWER: ➡ Information
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about real estate can best be found through local sources, which makes the real estate market
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local in nature
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2. You would expect a real estate licensee to perform all of the following activities, EXCEPT:
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A. Providing expert knowledge about construction methods and materials
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B. Providing expert knowledge to members of the public in the performance of specified
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services of real estate
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C. Following up with customers and clients after a transaction has been completed
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D. Acting as an intermediary, or agent, between two or more people in the negotiation of the
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sale, purchase, or lease of real estate - ANSWER: ➡ A. Providing expert knowledge about
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construction methods and materials
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3. A real estate licensee is expected to have expert knowledge in what three areas?
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A. Valuation, marketing, and property transfer
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B. Mortgages, property taxes, and homeowners' insurance policies
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C. Residential real estate, commercial real estate, and surveys
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D. Area schools, local crime rates, and proximity to potential employers - ANSWER: ➡ A.
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Valuation, marketing, and property transfer
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4. What is a comparative market analysis?
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A. A comparison of assessed values in the same neighborhood
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B. A value estimate based on recent sales of identical properties in the same neighborhood
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C. A value estimate based in recent sales of similar properties in the same neighborhood
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,D. An appraisal of the value of a property - ANSWER: ➡ C. A value estimate based in recent
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sales of similar properties in the same neighborhood
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5. Which type of valuation must be performed in accordance with the Uniform Standards of
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Professional Appraisal Practice (USPAP)
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A. Appraisal in a federally-related transaction
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B. Broker price opinion (BPO)
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C. Comparative market analysis (CMA)
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D. None of the above - ANSWER: ➡ A. Appraisal in a federally-related transaction
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6. Many real estate licensees engage in "farming". Which of the following best describes what
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that means?
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A. They conduct open houses on weekends
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B. They use marketing vehicles such as direct mailing and advertisements in real estate
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magazines
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C. They concentrate on the sale of agricultural properties
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D. They concentrate on one type of property or in a particular neighborhood - ANSWER: ➡ D.
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They concentrate on one type of property or in a particular neighborhood
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All of the following would be considered commercial property, EXCEPT
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A. an office building that accommodates three tenants
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B. A high-rise apartment building in the downtown area of the city
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C. A shopping center that adjoins a residential neighborhood
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D. A large house that has been subdivided into four apartments - ANSWER: ➡ D. A large house
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that has been subdivided into four apartments
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If the sale of a business involves the transfer of ownership of shares of stock, what additional
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requirement is imposed?
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A. The real estate licensee must be associated with a brokerage firm
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B. A brokerage firm must be brought in to handle the transaction
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, C. The real estate licensee must have a securities license
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D. The real estate licensee must have experience as a stockbroker - ANSWER: ➡ C. The real
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estate licensee must have a securities license
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Which real estate professional is expected to have the greatest level of knowledge and
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experience? - ANSWER: ➡ a real estate counselor
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all of the following are responsibilities of a property manager, EXCEPT
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A. Handling the payment of taxes, insurance, and operating expenses for the property
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B. Evaluating the investment value of the property
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C. Locating tenants, collecting rents, maintaining records, and scheduling maintenance
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D. Protecting the owner's investment and maximizing the profitability of the investment -
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ANSWER: ➡ B. Evaluating the investment value of the property
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According to F.S. 475, all of the following transactions are considered residential transactions,
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EXCEPT:
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A. A lease on a unit in a duplex, with an option to purchase the unit
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B. The sale of a 10-unit apartment building
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C. The sale of an eight-acre strawberry farm
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D. The sale of a lot that is zoned for a single-family home - ANSWER: ➡ B. The sale of a 10-unit
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apartment building
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Which of the following best defines appraising?
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A. The process of determining the amount of equity in real property
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B. The process of establishing the asking price of real property
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C. The process of establishing the firm value of real property
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D. The process of developing an opinion of the value of real property - ANSWER: ➡ D. The
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process of developing an opinion of the value of real property
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