CE Shop NYS Final Real Estate Exam Questions and Answers
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Course
The CE shop real estate
Institution
The CE Shop Real Estate
Under which of the following circumstances would the client and agent most likely mutually agree to terminate a listing? - Answer-The agent and client don't agree on the best way to price, maintain, and market the property.
If a taxpayer who has a business in their home or who uses a portion of ...
CE Shop NYS Final Real Estate Exam
Questions and Answers
Under which of the following circumstances would the client and agent most likely
mutually agree to terminate a listing? - Answer-The agent and client don't agree on the
best way to price, maintain, and market the property.
If a taxpayer who has a business in their home or who uses a portion of their home for
their business wants a deduction on their income tax, they should _____________. -
Answer-Multiply $5 against the square footage of the home used for business purposes
Besides the appraisal, what's a common hurdle as transactions approach closing? -
Answer-The buyer's financing falls through.
Lauren obtained a loan that's insured and that only required a down payment of 3.5%.
Which of these is most likely the type of loan Lauren has? - Answer-FHA
After owning a tattoo parlor for 12 years, Gilbert sold it. Gilbert's accountant calculated a
$46,000 capital gain. Which one of the following statements is true? - Answer-Gilbert
will pay tax on the gain at the long-term capital gains rate.
When working with potential buyers who say they just want a little information but won't
sign a buyer representation agreement, why should you recommend they become
clients? - Answer-If they won't sign an agency agreement, there's a higher chance they
won't be loyal to you.
The assessed value is a percentage of ______. - Answer-Market value
Besides the geographical area, on what are FHA lending limits based? - Answer-Type
of dwelling
Which of the following is a contract that outlines the terms of a property rental
arrangement between a landlord and a tenant? - Answer-Lease
A sole proprietor is a familiar business model. If you practice real estate as a sole
proprietor, which of the following is a true statement? - Answer-You're an independent
contractor.
In a real estate transaction, which two parties are owed the same duties? - Answer-
Customers and other parties
What is off-gassing? - Answer-Toxic chemicals released from products after
manufacturing
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