SUPERIOR SCHOOL OF REAL ESTATE FINAL EXAM
2024/2025 WITH 100% ACCURATE SOLUTIONS
Which of the following would create legally binding acceptance of a
written offer? - Precise Answer ✔✔The seller's agent emails the buyer's
agent that the seller signed the offer as written.
A broker is preparing a comparative market analysis (CMA) for a
subject property with 3200 square feet. A comparable property has 2750
square feet. The estimated value of 450 additional square feet is
$22,500. The broker should... - Precise Answer ✔✔Add $22,500 to the
sales price of the comparable property.
An option to purchase has been created for a one hundred acre parcel of
farmland. During the one-year option period, the option he has the right
to... - Precise Answer ✔✔Execute the option to purchase on the terms in
the option agreement.
A buyer is under contract to purchase a home for $370,000 and has
qualified for an 80% loan-to-value mortgage loan at an annual interest
rate of 45%. How much will the buyer owe for the 1% loan origination
fee and 1 1/2 discount points associated with this loan package? -
Precise Answer ✔✔$7,400
The buyer and the seller in a failed transaction cannot agree on how to
disburse the earnest money deposit being held in the listing firm's trust
,account. The listing firm must retain the records of this transaction for 3
years after the... - Precise Answer ✔✔Date the earnest money is
disbursed.
Which of the following is an example of personal property that could
typically be removed by the seller of a residential property? - Precise
Answer ✔✔A tree house constructed in a tree on the property that can
be removed without damage to the tree.
Which of the following properties would be the best comparable for an
appraiser to use for an appraisal of a two-story subject property with 3
bedrooms and 2 baths in a subdivision near the downtown area of a city?
- Precise Answer ✔✔3 bedrooms, 2 baths two-story house in a nearby
similar subdivision.
Which of the following is a legal property management practice under
the Federal Fair Housing Act as amended in 1998? - Precise Answer
✔✔Requiring a credit report and a criminal background check for all
applicants.
How and when must a broker notify an unrepresented buyer that the
broker represents the seller? - Precise Answer ✔✔In writing, before
obtaining any personal information from the buyer.
Excise tax on real property in North Carolina is... - Precise Answer
✔✔$1per$500
, Which of the following scenarios best illustrates first substantial
contact? - Precise Answer ✔✔Seller states that she must relocate by the
end of the year.
Liens, restrictive covenants, easements, and encroachments are all
examples of... - Precise Answer ✔✔Encumbrances.
A detached workshop extends over the property line onto the
neighboring lot by six inches. This legally constitutes as a (an)... -
Precise Answer ✔✔Encroachment.
A North Carolina broker is required to deliver all executed contracts to
his/her clients no later than... - Precise Answer ✔✔Three days after
receipt by the broker.
A buyer who is Muslim instructs the broker to show the buyer properties
that are located in neighborhoods that have a higher number of Muslim
residents. If the broker complies with this client's instructions the broker
will be in... - Precise Answer ✔✔Compliance with the Civil Rights Act
of 1866, but in violation of the Federal Fair Housing Act.
Which of the following statements regarding the TILA-RESPA
Integrated Disclosure (TRID) requirements is true? - Precise Answer
✔✔Within three days of receiving a loan application, the lender must
provide the applicant with a loan estimate.
2024/2025 WITH 100% ACCURATE SOLUTIONS
Which of the following would create legally binding acceptance of a
written offer? - Precise Answer ✔✔The seller's agent emails the buyer's
agent that the seller signed the offer as written.
A broker is preparing a comparative market analysis (CMA) for a
subject property with 3200 square feet. A comparable property has 2750
square feet. The estimated value of 450 additional square feet is
$22,500. The broker should... - Precise Answer ✔✔Add $22,500 to the
sales price of the comparable property.
An option to purchase has been created for a one hundred acre parcel of
farmland. During the one-year option period, the option he has the right
to... - Precise Answer ✔✔Execute the option to purchase on the terms in
the option agreement.
A buyer is under contract to purchase a home for $370,000 and has
qualified for an 80% loan-to-value mortgage loan at an annual interest
rate of 45%. How much will the buyer owe for the 1% loan origination
fee and 1 1/2 discount points associated with this loan package? -
Precise Answer ✔✔$7,400
The buyer and the seller in a failed transaction cannot agree on how to
disburse the earnest money deposit being held in the listing firm's trust
,account. The listing firm must retain the records of this transaction for 3
years after the... - Precise Answer ✔✔Date the earnest money is
disbursed.
Which of the following is an example of personal property that could
typically be removed by the seller of a residential property? - Precise
Answer ✔✔A tree house constructed in a tree on the property that can
be removed without damage to the tree.
Which of the following properties would be the best comparable for an
appraiser to use for an appraisal of a two-story subject property with 3
bedrooms and 2 baths in a subdivision near the downtown area of a city?
- Precise Answer ✔✔3 bedrooms, 2 baths two-story house in a nearby
similar subdivision.
Which of the following is a legal property management practice under
the Federal Fair Housing Act as amended in 1998? - Precise Answer
✔✔Requiring a credit report and a criminal background check for all
applicants.
How and when must a broker notify an unrepresented buyer that the
broker represents the seller? - Precise Answer ✔✔In writing, before
obtaining any personal information from the buyer.
Excise tax on real property in North Carolina is... - Precise Answer
✔✔$1per$500
, Which of the following scenarios best illustrates first substantial
contact? - Precise Answer ✔✔Seller states that she must relocate by the
end of the year.
Liens, restrictive covenants, easements, and encroachments are all
examples of... - Precise Answer ✔✔Encumbrances.
A detached workshop extends over the property line onto the
neighboring lot by six inches. This legally constitutes as a (an)... -
Precise Answer ✔✔Encroachment.
A North Carolina broker is required to deliver all executed contracts to
his/her clients no later than... - Precise Answer ✔✔Three days after
receipt by the broker.
A buyer who is Muslim instructs the broker to show the buyer properties
that are located in neighborhoods that have a higher number of Muslim
residents. If the broker complies with this client's instructions the broker
will be in... - Precise Answer ✔✔Compliance with the Civil Rights Act
of 1866, but in violation of the Federal Fair Housing Act.
Which of the following statements regarding the TILA-RESPA
Integrated Disclosure (TRID) requirements is true? - Precise Answer
✔✔Within three days of receiving a loan application, the lender must
provide the applicant with a loan estimate.
