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  • August 24, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • the ce shop review assessment questions and answer

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The CE Shop Review Assessment
Questions And Answers


With \this \type \of \loan, \personal \property \is \included \with \the \real \property \in \the \sale. \It's \
commonly \seen \in \commercial \real \estate, \but \you \may \also \see \this \in \the \sale \of \furnished \
condominiums. \- \(correct \answer) \-Package \mortgage

Which \product's \fibers \are \dangerous \when \inhaled \because \they \can \lodge \in \the \lungs \and \
intestines, \causing \cancer? \- \(correct \answer) \-Absestos

Sally \and \Pete \are \city \dwellers \who \have \always \dreamed \of \living \in \a \rural \setting. \When \
Pete \inherits \a \600-acre \cattle \ranch \from \his \uncle, \they \don't \waste \a \moment \packing \up \
and \moving \to \the \ranch. \What \category \of \real \estate \is \their \new \home \considered? \- \
(correct \answer) \-Agricultural

Shannon's \rural \property \in \San \Diego \County \has \a \small \stream \that \runs \across \one \corner \
where \her \horses \are \pastured, \and \her \horses \use \it \as \a \water \source. \What's \true \about \this \
situation? \- \(correct \answer) \-Shannon \has \a \riparian \right \to \use \the \water \flowing \across \her \
property \as \a \water \source \for \her \animals, \though \she \may \not \divert \the \water.

Which \type \of \subdivision \is \defined \as \parcels \of \land \that \purchasers \own \individually, \with \
no \commonly \owned \areas? \- \(correct \answer) \-Standard \subdivision \



*Any \subdivision \that \is \sold \with \no \common \areas \and \is \smaller \than \160 \acres \is \
considered \to \be \a \standard \subdivision. \Lots \can \be \fully \or \only \partially \improved, \but \must \
at \least \have \utilities \installed.

What's \the \first \step \an \appraiser \will \perform \when \conducting \an \appraisal? \- \(correct \
answer) \-State \the \problem

Which \of \the \following \professional \certifications \for \property \managers \applies \to \an \
individual? \- \(correct \answer) \-Certified \Property \Manager

A \real \estate \licensee \and \his \client \fulfill \the \listing \agreement, \and \the \agency \relationship \is \
terminated. \At \what \point \did \the \agent's \fiduciary \duty \of \confidentiality \to \this \client \
terminate? \- \(correct \answer) \-Never

, A \buyer \is \purchasing \a \property \for \$500,000. \His \lender's \loan-to-value \ratio \is \90%. \How \much
\is \the \buyer \financing? \- \(correct \answer) \-$450k


What \does \the \Real \Estate \Commissioner \do? \- \(correct \answer) \-Determines \real \estate \policy \
and \issues \regulations \to \enforce \law

Which \of \the \following \is \a \true \statement \about \U.S. \Department \of \Veterans \Affairs \loans? \- \
(correct \answer) \-The \loan \that's \guaranteed \will \be \based \on \either \100% \of \the \sales \price \or \
100% \of \the \CRV, \whichever \is \less.

Rachel \loves \convenience. \As \you \can \imagine, \she \was \thrilled \when \she \was \able \to \finance \
her \mortgage \through \the \same \institution \where \she \deposits \her \payroll \checks. \Which \of \
these \most \likely \financed \Rachel's \mortgage? \- \(correct \answer) \-Savings \and \loan

Your \clients \have \made \an \offer \to \purchase \on \a \beautiful \home \that \is \in \a \perfect \location \
for \their \family. \The \offer \is \accepted. \A \week \later, \the \seller's \agent \finally \provides \the \TDS \
and \other \required \disclosures. \To \everyone's \dismay, \the \disclosures \show \that \there \are \some \
serious \issues \that \were \not \apparent \in \your \visual \inspection. \What \can \your \buyers \do? \- \
(correct \answer) \-Buyers \have \3 \days \after \the \delivery \of \the \TDS \to \rescind \the \purchase \
agreement.

What \can \brokerages \do \to \ensure \licensees \use \technology \properly? \- \(correct \answer) \-Have \
a \solid \policies \and \procedures \manual \in \place.

If \Acme \Bank, \a \primary \lender, \wants \to \sell \its \loans \on \the \secondary \market, \it \would \be \
easier \for \it \to \do \so \if \its \loans \meet \______. \- \(correct \answer) \-Fannie \Mae \and \Freddie \Mac \
Guidelines \



*If \Acme \Bank \meets \Fannie \Mae \and \Freddie \Mac \guidelines, \its \loans \are \conforming \and \are \
easier \to \sell \on \the \secondary \market.

Which \of \these \might \bring \a \charge \of \illegal \steering \against \a \licensee? \- \(correct \answer) \-
When \working \with \single \female \clients, \Cassandra \is \careful \to \promote \properties \in \
neighborhoods \she \considers \safe.

Lenny \is \the \listing \agent \for \a \property \built \in \1901. \Old \homes \are \very \desirable \in \this \area,
\and \Lenny \is \expecting \a \fair \amount \of \interest \and \multiple \offers \at \the \planned \open \house.
\Which \action \best \demonstrates \good \faith \to \his \seller \client \in \this \scenario? \- \(correct \
answer) \-Lenny \presents \all \formal \written \offers \as \they \come \in, \discussing \the \merits \and \
drawbacks \of \each, \but \ultimately \lets \the \owner \decide \what \action \to \take.

Which \of \the \following \statements \regarding \buyer \and \seller \agency \is \true? \- \(correct \answer) \-
A \seller's \agent \represents \the \seller, \while \the \buyer's \agent \represents \the \buyer.

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