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Texas real estate principles of real estate 2 questions & answers.
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Texas real estate principles of real estate 2 questions & answers.
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Texas real estate principles of real estate2 questions & answers.
Which of the following is an area of a real estate brokers job that requires mathematics
A. Commissions from Property Sales
B. Mortgage interest
C. All of these are correct
D. Property Taxes ANS -All of the following
If the base side of the triangular play measures 45' and the height line measures 12' what is the area of
the plot in square feet? ([bxh]x1/2=a)
A. 540 square ft
B. 1034 square ft
C. 1.8 square ft
D. 270 square ft ANS -270 square ft
An applicant is allowed to use what electronic devices during the real estate exam
A. Hand held calculator
B. Cell phone with calculator
C. Smart watch with calculator
D. Tablet with calculator ANS -Hand held calculator
Convert the following fraction to a decimal for ease of computation: 31/25
A. 124
B. 1.24
C. 0.124
D. 12.4 ANS -1.24
What is the general formula to determine capital gain?
,A. Base value- profit from sale= capital gain
B. Purchase price- base value= capital gain
C. None of these answers are correct
D. Profit from sale- base value= capital gain ANS -profit from sale - base value = capital gain
A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the first
year? (Interest rate= interest/principle)
A. 5880000
B. 58800
C. 2.44
D. 4083333 ANS -58800
There are fairly limited uses of math in real estate transactions?
A. True
B. False ANS -true
A property owner has a 20 year mortgage that is worth 97,500 with a 7.5% annual interest rate. What
does the property owner pay in mortgage payments every month
A. 8.25
B. 784.87
C. 600.66
D. 9407.51 ANS -784.87
What is the basic formula for determining the proration of fees?
A. Tax or fee rates x fees owed to buyer= tax or fee owed
B. Tax or fee rate x remaining days or months= tax or fee owed
C. Fees owed to seller x remaining days or months= tax or fee owed
D. None of these answers ANS -Tax or fee rate x remaining days or months= tax or fee owed
,The area benefiting from the project paid for by the special assessment is called an...
A. Adjustment district
B. Construction district
C. Special district
D. Improvement district ANS -Improvement district
A house has 3 distinct rectangular shapes
A=20'X30'
B=10'X10'
C=75'X50'
What is the square footage total
A. 445 ft2
B. 4450 ft2
C. 44500 ft2
D. 4500 ft2 ANS -4450 ft2
Which process calls for the use of the math symbol up?
A. Calculating company interest
B. Figuring the area of a circle
C. Figuring the area of a trIangle
D. Amortizing loan payments ANS -Find the area of a circle
Which of these is not an appraisal terms?
A. Amortization
B. Reconciliation
C. Depreciation
D. Obsolescence ANS -Amortization
, How many hours must an applicant provide that are acceptable and verifiable appraisal experience
acquired over a minimum of 12 months for a certified residential appraiser?
A. 1,000 hours
B. 2,500 hours
C. 1,500 hours
D. 2,000 hours ANS -1,500 hours
What is an functional obsolescence?
A. The loss of property value due to a change in the use of property
B. The loss of property value due to factors external to the property
C. The loss of property value due to qualities of the property that cannot be easily changed
D. None of these are correct ANS -The loss of proper value due to qualities of the property that cannot
be easily changed
Which of these is not a feature commonly found in appraisals
A. Statewide housing prices
B. An explanation of the method used by the appraiser
C. The size and condition of structures and permanent fixtures
D. A description of improvements made including the materials used ANS -Statewide housing prices
What is the most probable price which a property should bring in a competitive and open market under
all conditions requisite to a fair sale the buyer and seller each acting prudently and knowledgeably?
A. Estimated value
B. Market value
C. Sales price
D. Estimated price ANS -Market Value
Which of the following objective value means the value of a piece of property will rise or fall because of
a future benefit or a future complication?
A. Contribution
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