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Principles Of Real Estate 1 Final Exam With 100% Correct And Verified Answers
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Principles Of Real Estate 1 Final Exam With 100% Correct And Verified Answers
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Principles Of Real Estate 1 Final ExamWith 100% Correct And Verified Answers
If a real estate salesperson closes on a transaction, who pays the
salesperson their commission? - Correct Answer-The salesperson's
sponsoring broker
A means of comparing similar type properties, which have recently
sold, to the subject property is known as the? - Correct Answer-
Market Comparison Approach
The market comparison approach is commonly used for this
property type? - Correct Answer-Residential
The amount of goods offered for sale within a given market at a
given price during a given time period is known as? - Correct
Answer-Supply
A real estate agent is an example of what type of agent? - Correct
Answer-Special agent
A refrigerator is typically considered? - Correct Answer-Personal
Property
Mobile homes not permanently attached to the land are generally
considered? - Correct Answer-Personal Property
Which of the following is considered a legal test for determining if
an item is a fixture or not? - Correct Answer-Mode and permanence
of how the item was attached
Adaptation of the item
Intention of the parties
All of the above
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, The right of exclusion, which allows a landowner to prevent others
from entering or occupying their property, is included in the? -
Correct Answer-Bundle of rights
Which of the following is an example of a fixture? - Correct Answer-
Kitchen cabinets
Which of the following is an advantage to owning a home? - Correct
Answer-Potential for asset appreciation
Tax benefits
Pride of ownership
All of the above
An individual who has not owned real property for at least the
previous two years is known as a? - Correct Answer-First-time
homebuyer
Which of the following is NOT a form of real property? - Correct
Answer-Cooperative
A form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-ownership
in other aspects of the property is known as a? - Correct Answer-
Condominium
A mortgage payment typically includes? - Correct Answer-Interest
Principal
Insurance
Real estate brokers have a ...... relationship with the principal? -
Correct Answer-Fiduciary
The 'L' in the acronym C.O.A.L.D. stands for which fiduciary duty?
- Correct Answer-Loyalty
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