CE Final Exam RE, The CE Shop Test, Real Estate Final Exam | 340 Questions and Answers 100% Correct | 2024/2025.
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Module
The CE shop real estate
Institution
The CE Shop Real Estate
CE Final Exam RE, The CE Shop Test, Real Estate Final Exam | 340 Questions and Answers 100% Correct | 2024/2025 .
is a process in which an appraiser determines a probable range of values for a property by comparing a group of comparable sales to the subject. The appraiser attempts to include...
CE Final Exam RE, The CE Shop Test, Real
Estate Final Exam | 340 Questions and Answers
100% Correct | 2024/2025 .
is a process in which an appraiser determines a probable range of values for a
property by comparing a group of comparable sales to the subject. The appraiser attempts to
include both superior and inferior units of comparison, such as age, transaction price, etc.
Related to demand, and reflects the supply of property, or lack thereof.
Which of the following statements about agents and the duty of obedience is true?
An agent can ignore a client's instructions if they negatively affect the agent's commission.
An agent should carry out the client's instructions as long as they are within the law. An agent
should never question a client's instructions.
The duty of obedience extends beyond the termination of the agency agreement. -Correct Answer:
An agent should carry out the client's instructions as long as they are within the law.
Carson is purchasing a $600,000 property by obtaining an 80/20 loan. How much is Carson
financing?
$120,000
$420,000
$480,000
,$600,000 -Correct Answer: $480,000
Appraiser Niles uses to determine a range of values based on comparing a subject property to
comparable sales. He makes sure to use some comparables that lack features of his subject
property, and others that have even more desirable features, to balance out the comparison.
Real estate office Real estate owned
Rental equality ownership
Rental equal opportunity -Correct Answer: Real estate owned
What does the rectangular government survey system use as the basis for legal descriptions?
Principal meridians, base lines, and sections Reference to a subdivision plat
Reference to degrees latitude and longitude
The beginning point of a boundary line as identified by a surveyor -Correct Answer: Principal
meridians, base lines, and sections
Which entity ensures that contractors perform their work according to code by inspecting their job
sites?
City hall
The attorney general The building department
The secretary of state -Correct Answer: The building department
Randi is a licensee who would like to update her advertising. What must she be sure to include on
any advertising listed with her or any other brokerage?
Brokerage name Fax number Franchise logo
Personal photo -Correct Answer: Brokerage name
,Seller Randy signed a listing agreement with Barbara, who worked very hard to find him a buyer.
Randy's cousin decided to purchase the house during the listing period. Is Barbara owed a
commission?
No, because sellers don't have to pay a commission if a relative purchases the property. Yes,
because Randy is not a licensee.
Yes, because she worked hard for Randy.
Yes, if she has an exclusive right-to-sell agreement. -Correct Answer: Yes, if she has an exclusive
right-to-sell agreement.
Mario doesn't want to include a religious preference in his listing ad, so which of the following
phrases should he use?
Apartment available for members of attached temple Close to Catholic cathedral
Jewish community
Within walking distance to a mosque -Correct Answer: Apartment available for members of
attached temple
Homeowners can take several actions related to pest infestations, but which of the following
actions should be left to licensed pest management professionals?
Applying pesticides Installing a vapor barrier
Looking for sings of an infestation
Removing moisture from the home -Correct Answer: Applying pesticides
When banks have lots of funds available for lending, what tends to happen to interest rates?
Rates decrease
Rates fluctuate, both up and down. Rates increase
Rates stay the same. -Correct Answer: Rates decrease
Which of these transactions would require the Missouri licensee to provide written disclosure of
his or her interest?
Henry is the listing agent for a vacant property in the condo complex where he lives. John is the
listing agent for his neighbor's house.
Sally is the buyer's agent for a couple that was referred to her by her previous client. Step is her
father's buyer's agent. -Correct Answer: Step is her father's buyer's agent.
Missouri license law requires that licensees provide written disclosure of any ownership interest
they have or will have in a property. "Interest" also includes being the spouse, parent, or child of a
party to a real estate transaction.
, How many feet are in three yards?
12
Nine Six
Three -Correct Answer: Nine
Stanley is having second thoughts about taking his neighbor to court over a written agreement they
have concerning who pays the rent on a storage unit that they share, because it's used to store
stolen merchandise. Stanley doesn't think the contract will stand up in court. What type of contract
does Stanley have?
The informational form that explains the different types of agency representation and transaction
services available to real estate consumers in Missouri is known as the
.
Agency Disclosure Form
Brokerage Relationship Disclosure Form Listing Agreement Disclosure Form
Missouri Broker Disclosure Form -Correct Answer: Missouri Broker Disclosure Form
Which of the following is true about an attorney's opinion of title?
It protects buyers from material defects. It's no longer required anywhere.
It's the document that notes the cloud on the title.
It uses public records to validate property transfers. -Correct Answer: It uses public records to
validate property transfers.
An attorney's opinion of title provides a legally valid opinion of a property's ownership history.
The attorney's scope of information is still limited to what's available in the public records.
Which term involving trespassing is used when someone other than the owner claims title to real
property?
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