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Ch 1 Test Questions and answers rated 100% correct.
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Ch 1 Test Questions and answers rated100% correct.
Many trade organizations serve the real estate business. The largest is the? ANS -National Association of
REALTORS® (NAR).
A real estate firm or an individual real estate professional? ANS -rarely performs all the services or
handles all classes of property.
All of the following are categories of the uses of real property EXCEPT? ANS -developmental
Schools are considered part of which real estate classification? ANS -special purpose
The market for each type of real property can be divided into the three main functions of? ANS -buying,
selling, and leasing.
Home inspection is a profession that combines? ANS -interest in real estate and construction skills.
Special-purpose real estate includes? ANS -churches, schools, cemeteries, and government-held lands
The property manager's basic responsibility is to? ANS -protect the owner's investment and maximize
return.
The Counselors of Real Estate (CRE), Commercial Investment Real Estate Institute (CIREI), and Institute
of Real Estate Management (IREM) are affiliated institutes of? ANS -NAR
When demand for a commodity decreases and supply remains the same,? ANS -price tends to fall.
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