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Exam (elaborations)

Rockwell Test Questions and Answers 100% Pass

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Rockwell Test Questions and Answers 100% Pass Adjusted basis is initial basis... - plus capital expenditures, less depreciation A loans interest is best defined as... - a charge paid by a borrower in exchange for use of the lenders money. Deborah sells her property to Juan, but Juan fails to r...

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  • December 30, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Rockwell
  • Rockwell
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Rockwell Test Questions and Answers
100% Pass

Adjusted basis is initial basis... - ✔✔plus capital expenditures, less depreciation


A loans interest is best defined as... - ✔✔a charge paid by a borrower in exchange for

use of the lenders money.


Deborah sells her property to Juan, but Juan fails to record the deed. Which of the

following statementd is true about unrecorded deeds? - ✔✔The deed is still valid

between Deborah and Juan.


A property's market value is described as the... - ✔✔ad valorem value


The result of an unrelease lien is a... - ✔✔cloud on the title.


Interest on a loan for a home purchase is which type of interest? - ✔✔Simple


Of the following, which would have the greatest effect on the supply of real estate in a

particular market? - ✔✔Size of labor force.


A developer lists 20 different properties in a subdivision, with 4 different licensees.

Each licensee gets her own model unit to work from. Which of the following is true? -

✔✔each model must display the Fair Housing logo.



Katelyn Whitman© 2025, All Rights Reserved.

, 2|Page


A new subdivision requires payment of homeowners association dues. If unpaid, what

type of lien do they create? - ✔✔Specific lien that encumbers the property.


A property has lost value because its maintenance and upkeep have been neglected.

This would be an example of... - ✔✔physical deterioration


Darren and Martin are agents for a large brokerage firm. They decide that Darren will

specialize in listing and selling houses on the north side of the river and Martin will

specialize in listing and selling houses on the south side of the river. Such a practice is...

- ✔✔legal, because the prohibition against Market allocation does not apply to agents

working for the same firm.


A seller asks an appraiser to help determine a realistic listing price for her single family,

owner-occupied house. Which approach to value would the appraiser rely on when

making this decision? - ✔✔Market data approach


Which of the following actions would most likely create the largest increase in the value

of a property? - ✔✔Installing a second bathroom in a house with 4 bedrooms and only

one bath.


Terry is buying a house offered for sale by owner (FSBO) with the help of a real estate

agent. The purchase and sale agreement is contingent on Terry receiving a loan from an

Institutional lender. Does RESPA apply to this transaction? - ✔✔Yes, because Terry is

purchasing a single family home


RESPA - ✔✔Real Estate Settlement Procedures Act


Katelyn Whitman© 2025, All Rights Reserved.

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