Term 1 of 100
A comparable property sold two months ago for $138,000. It has four bedrooms (the subject
property has three) and is 160 square feet larger as a result. An analysis shows that the additional
room/space makes an $8,000 difference. The subject is newer and in slightly better condition, so
you estimate a difference of $5,000.
Due to the difference in square footage and bedrooms, you make
a minus $7,900 adjustment to the comparable.
minus $3,000.
a minus $9,000 adjustment to the comparable.
a minus $8,000 adjustment to the comparable.
Definition 2 of 100
28% (HER) and 36% (TOR).
A mortgage note normally shows the amount required to pay monthly
If a buyer raises an objection to a property, the associate should first
FHA requirements for housing expense ratios (HER) and total obligations ratio (TOR) are
Writing ads for a new listing would be considered what type of activity in the daily activity
log?
,Definition 3 of 100
an owner who lists his personal house (his only real property) with a broker.
The Fair Housing Act applies to
When selling his property, a sales associate failed to disclose the fact that a person died in
the home last year. The sales associate
The state requires that sales tax be collected on personal property sold as part of a real
estate transaction when the property is
A person who sends a fax
Term 4 of 100
Susan lists her home with broker William for $90,000 on March 16. On August 1, Henry makes an
offer of $85,000, accompanied by a binder deposit of $5,000, and asks the seller to pay points on
a new loan of $80,000. Susan counters at a price of $87,500 and agrees to pay four points on a
loan of $82,500. Henry accepts.
Henry qualifies for the loan at an interest rate of 9% and agrees to pay a 1% origination fee. The
monthly payment for principal and interest is $663.81. Henry also will be charged for prepaid
interest for the balance of the month of closing. The closing date is September 15, and Henry is
charged for the day of closing.
Henry will purchase an insurance policy for $720. City and county taxes are $760. Susan agreed to
pay her own attorney's fees of $125. Henry must pay $130 for attorney's fees, $56 to record the
mortgage, $6 to record the deed, and $640 for title insurance.
The payoff on Susan's existing mortgage will be $64,455.16 on the day of closing. Broker William's
fee is 6%. Doc stamps and intangible taxes are paid according to custom. Use the 365-day
method for prorations.
What is the amount of documentary stamp taxes on the note?
$211.25
$711.25
$500.00
$288.75
,Term 5 of 100
A broker who works with a seller is legally presumed to be
a dual agent.
a subagent.
a designated sales associate.
a transaction broker.
Term 6 of 100
Which FSBO activity is more likely to generate a listing?
Foreign
Sympathy
Visiting
Contribution.
Term 7 of 100
The point where the business cycle, at its highest point, levels off and begins to fall is called
depression.
contribution.
inflation.
recession.
, Definition 8 of 100
a survey.
The point where the business cycle, at its highest point, levels off and begins to fall is called
The first step when meeting the sellers for a listing appointment is to
The three components of a full property title report are a physical inspection of the
property, a search of the public records, and
The Florida Realtors® contract requires that the seller warrant appliances, heating and
cooling systems, and plumbing systems to be in working order
Term 9 of 100
A very important social media site for uploading and viewing videos is
Twitter.
Facebook.
Recession.
YouTube.
Term 10 of 100
If a buyer raises an objection to a property, the associate should first
disclosure of such information violates chapter 475.
confirm and isolate the objection.
contribution.
the seller's religious preference.
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