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ROCKWELL EXAM REAL ESTATE CLASSES WA FINAL EXAM 1 QUESTIONS AND ANSWERS
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ROCKWELL EXAM REAL ESTATE CLASSES WA FINAL EXAM 1 QUESTIONS AND ANSWERS
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Name: Score:180 Multiple choice questions
Term 1 of 180
An advertisement for a house includes only the following phrase about financing: "Assume the
owner's original loan with only a $1,000 downpayment" What is wrong with this advertisement?
it doesn't include the loan's annual percentage rate and other financial terms
it doesn't also include the loan's original balance
it doesn't give the brokerage firm's name as advertised
Nothing. so long as it is the real estate's licensee's own property
Term 2 of 180
Under which of the following circumstances would a listing be terminated?
Real estate agent who took the listing dies
Seller dies
Property is rezoned after listing is signed
Listing agent goes to work for another firm
Term 3 of 180
Under Title VIII of the Civil RIghts act of 1968, certain transactions are exempt. Which one of
the situations below would be exempted and not a violation of the act?]
A church-owned apartment complex where the language in the lease restrict tenancy to
memers of a specific national orgin
Members of a certain ethnic group are denied lodging in facilities operated by a private
club for commercial purposes
An unlisted home that is for sale by owner, where the only advertising is a sign in front of
the property that simply reads " For Sale" and the owner owns only one other home
An Absentee owner who rents units in a four-plex without the help of a real estate agent
,Term 4 of 180
When part of the land is moves, but generally the boundaries of a property stay the same, it is
known as:
accretion
Adverse possession
Avulsion
partition
Term 5 of 180
A homeowner bought his home for $150,000. Ten years later, he refinanced his mortgage and
borrowed $100,000. Which of the following is true for this type of property?
Interest on the difference between the original loan amount and the refinanced amount
is not deductible
Interest on only half of the difference between the original amount and refinanced
amount is deductible
Interest on loans such as this one for the purchase or refinance of a principal residence
is deductible
Interest deductibility will depend on the borrower's tax bracket
Term 6 of 180
Brian purchases two parcels of land, one measuring one square mile and the other containing
five acres. If he paid $2,000 an acre, what was his total purchase price?
$1,208,000
$1,209,000
$1,280,000
$1,290,000
,Term 7 of 180
Which of the following would not be considered a nominal earnest money deposit, subject to
the pooled interest-bearing account requirement?
$5,000 in the form of personal check
$7,500 in the form of cash
$10,000 in the form of certified checks
$11,000 in the form of a cashiers check
Term 8 of 180
It is not necessary to complete 30 hours of continuing education in order to renew a/an:
active license
broker's license
inactive license
managing broker's license
Term 9 of 180
A corn field with a depth of 900 feet and a frontage of 484 feet is bisected by an access road,
leaving two triangular lots. If the land sells for $2,000 per acre, how much is each lot worth?
$2,000
$10,000
$20,000
$100,000
, Term 10 of 180
Barker is declared incompetent by a court, and his daughter, Marge, is appointed to handle his
affairs. After several years, Marge asks her sister Beth to take over her duties. Beth then list's
Barker's property for sale. Would a sale of Barker's property be valid under these
circumstances?
No, any contract concerning real estate and an incompetent person is automatically
void
No, Beth hasn't been designated by a court to handle Barker's affairs
Yes, but only if Beth gets Barker's written permission
Yes, Marge has delegated her responsibilities properly
Term 11 of 180
Who is ultimately responsible for the delivery of the earnest money?
Purchaser
Designated Broker
Listing licensee
Licensee who receives the funds
Term 12 of 180
The Director may impose all of the following penalties on a licensee for violating the license
law. EXCEPT:
additional remedial education
license revocation
license suspension
requiring licensee to pay for costs of formal hearing
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