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Minnesota Salesperson Course 1 Mostly Tested Questions and Correct Answers (100% Pass) $17.99
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Minnesota Salesperson Course 1 Mostly Tested Questions and Correct Answers (100% Pass)
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What industry is considered to be the largest in the US? The Real Estate Industry Which category of real estate related tasks do real estate salespersons spend the bulk of their time and effort in? Sale or transfer What are property sales at the mercy of? The local economy An overabundan...

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  • November 19, 2024
  • 121
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • minnesota salesperson course 1 mostly tested quest

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  • Minnesota Salesperson Course 1
  • Minnesota Salesperson Course 1

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1|Page | © copyright 2024/2025 | Grade A+




Minnesota Salesperson Course 1
Mostly Tested Questions and
Correct Answers (100% Pass)
What industry is considered to be the largest in the US?


✓ The Real Estate Industry




Which category of real estate related tasks do real estate salespersons spend

the bulk of their time and effort in?


✓ Sale or transfer




What are property sales at the mercy of?


✓ The local economy




An overabundance of lower-priced homes with many more buyers than

homes available is called?


✓ A seller's market




A number of higher-priced homes for sale with only a few buyers in that price

range would make?




Master01 | November, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ A buyer's market




What is an organization of member brokers who share listing information with

one another called?


✓ An MLS




What business do most real estate salespersons engage in?


✓ The business of listing or selling residential property




What land is used for industrial purposes, such as warehouses, factories and

power plants?


✓ Industrial property




This type of property refers to income-producing property, such as office

buildings, restaurants, shopping centers, hotels and motels, parking lots and

stores.


✓ Commercial Property




This is a type of property that is defined as land used primarily for growing

crops or raising livestock, such as farms, pastureland, orchards and

timberland.


Master01 | November, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ Agricultural property




This type of property has a unique use to the persons who own and use it,

such as churches, hospitals, schools and government buildings.


✓ Special-purpose property




This land is used for leisure activities, such as parks, forests, time-shares and

campgrounds.


✓ Recreational property




This is defined as any property that is being held as an investment to generate

income or profit.


✓ Investment property




A licensed individual employed on a fee or commission basis as an agent to

bring buyers and sellers together and assist in negotiating real estate

contracts between them.


✓ Real Estate Broker




A person licensed to perform any of the acts of a real estate broker but while

associated with and supervised by a broker.


Master01 | November, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ Real Estate Salesperson




The process whereby rights in a unit of property are transferred between two

or more parties, one party being the seller and the other being the buyer.


✓ Real Estate Transaction




The term used by brokers to market a property for sale or rent.


✓ Listing




An indication of the desire to purchase a property at a specific price.


✓ Offer




A sum of borrowed money that is generally repaid with interest.


✓ Loan




A term which can refer to the institution making the loan or to the individual

representing the firm.


✓ Lenders




A legal document that pledges a property to the lender as security for

payment of a debt.

Master01 | November, 2024/2025 | Latest update

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