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VanEd Real Estate National Portion Exam with complete solution 2024_2025.
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VanEd Real Estate National Portion Exam with complete solution 2024_2025.
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VanEd Real Estate National Portion Examwith complete solution 2024/2025
Which of the following regulates misleading information to consumer about
interest rates and hidden finance fees?
1. The Direct Endorsement Program
2. The Fair Credit Reporting Act
3. The Right of Redemption Rule
4. The Truth-in-Lending Act (Regulation Z) - ANSWER-4. The Truth-in-Lending Act
(Regulation Z)
The Truth in Lending Act, of which Regulation Z is part of, was enacted as a
result of deceiving practices by lenders, which provided misleading information
to consumers about interest rates, hidden finance fees and other charges.
In order to solve a percentage problem, you have three possible questions:
1) What is the Total Amount if you know the percentage rate and the part of the
total amount;
2) What is the Percentage Rate if you know the Total Amount and the Part of the
Total Amount; and
3) What is the Part of the Total if you know the Percentage Rate?
For number two (2), what must you do to get the percentage rate?
1. Multiply the Part by the Total.
2. Divide the Part by the Total.
3. Divide the Total by the Part.
4. Multiply the Total by the Part. - ANSWER-2. Divide the Part by the Total.
, A new runway at the local airport put an existing subdivision under the aircraft-
landing pattern. This resulted in lowering the property values in the subdivision,
which is known as
1. Functional obsolescence
2. Physical depreciation
3. Economic or external obsolescence
4. Physical deterioration - ANSWER-3. Economic or external obsolescence
Which statement regarding ethics is INCORRECT?
1. Good ethics generally equates to good business.
2. Ethics go beyond what the law requires.
3. Ethics set forth minimum acceptable standards of behavior.
4. A good test for ethics is the Golden Rule. - ANSWER-1. Good ethics generally
equates to good business.
Associate Jones has Kathy under contract to purchase Lonnie's property. Jones
will receive commission from whom?
1. Buyer Kathy
2. Seller Lonnie
3. Both Kathy and Lonnie
4. Jone's employing broker - ANSWER-4. Jone's employing broker
After closing and taking possession of a home, the buyer found that the seller
had removed the chandelier. The buyer
1. May look to the broker for the cost of replacing the chandelier
2. Has no recourse, as he or she should have performed a "walk-through" prior to
closing
3. Must turn to the inclusions section of the Buy/Sell Contract to determine his or
her rights
4. Has a three-day right to rescind the closing - ANSWER-3. Must turn to the
inclusions section of the Buy/Sell Contract to determine his or her rights
On a closing statement, security deposits and prepaid rents are a
1. Debit Seller
2. Debit Buyer
3. Credit Seller
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