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AYPO Real Estate Principles of Real Estate II Exam Study Guide Questions and Answers 100% Solved
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AYPO Real Estate Principles of Real Estate II Exam Study Guide
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AYPO Real Estate Principles of RealEstate II Exam Study Guide
If the base side of a triangular plot measures 45' and the height line measures 12', what
is the area of the plot in square feet?([b x h] x ½ = A) - answer270 square feet
An applicant is allowed to use what electronic devices during the real estate exam? -
answer Hand-held calculator
Convert the following fraction to a decimal for ease of computation: 31/25 - answer1.24
What is the general formula to determine Capital Gain? - answer 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) - answer$58,800
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? -
answer$784.87
What is the basic formula for determining the proration of fees? - answerTax or Fee
Rate x Remaining Days or Months = Tax or Fee Owed
A house has 3 distinct rectangular shapes:
A=20'x30'
B=10'x10'
C=75'x50'
What is the square footage total? - answer4450 ft2
How many hours must an applicant provide that are acceptable and verifiable appraisal
experience acquired over a minimum of 12 months? - answer1,500 hours
What is functional obsolescence? - answerThe loss of property value due to qualities of
the property that cannot be easily changed
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? - answerMarket 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? - answerAnticipation
Replacement cost, or the dollar amount it would cost to construct at current prices a
structure that is not exactly the same is in which type of appraisal? - answerCost
approach.
A CMA is what? - answerComparative Market Analysis
What are fees paid to the lender to compensate the loan company or bank for
evaluating, processing, and approving a mortgage? - answerOrigination points.
A privately run, for-profit financial institution that provides a number of services including
mortgage lending is a... - answerBank.
- answer
In which type of payment plan does the borrower pay a lesser amount for the first years
of the plan, often scheduled at five years, and then a higher monthly amount in the last
portion of the loan? - answerFlexible payment plan.
What is a federal program run by the U.S. Department of the Treasury which is intended
help homeowners avoid foreclosure? - answerThe Making Home Affordable Program.
Which of the following is a VLB qualifying requirement? - answerThe home must remain
as the veteran's primary residence for at least three years
The Federal Reserve System does not directly control... - answer1. national production.
2. levels of employment.
3. inflation.
What occurs in secondary capital markets? - answerSecurities are traded between
investors
What is an alternative to financial institutions particularly for buyers who are not able to
obtain conventional financing? - answerPrivate lending.
Which of the following combines and replaces the final Truth-in-Lending disclosure and
the HUD-1? - answerThe closing disclosure
Zoning regulations must be designed to: - answer1. Lessen congestion in the streets.
2. Provide adequate light and air.
3. Avoid undue concentration of population.
What is a unique political subdivision of a municipality in Texas? - answerTIRZ
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