BBK99E1 PRACTICAL TEST STUDY GUIDE
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
1. Calvin is buying his first home. He has been saving and saving for years.
The home he is buying has a price of $300,000 and Calvin has a down
payment of $75,000. Calvin's loan is considered:
Highly Secured
Low Risk
Simple Interest
Highly Leveraged - ANSWER ✔ B
2. When an appraiser assumes that no one is being forced to sell at a reduced
price because of an impending divorce or similar situation; and that both
buyer and seller are well-informed customers, he is more than likely hired to
determine:
Market Value
Insurance Value
Salvage Value
, All of the Above - ANSWER ✔ A
3. A Point of Beginning refers to:
A description starting at a designated place on a parcel using the Metes and
Bounds System.
A fixed object used to establish real estate boundaries using the Metes and
Bounds System.
Lines on either side of a principal meridian using the Rectangular Survey
System.
Lines running east and west parallel to a major base line using the
Government Survey System. - ANSWER ✔ A
4. Drew is leasing his apartment from Reggie. The lease is for one year and
they have agreed on all areas of the contract. The lease is in written form,
and Reggie is the only party that has signed. Without Drew's signature, is the
lease now invalid?
Yes, a lease in written form, must have both parties' signatures to be
validated.
No, the lessee is not required to sign, only the lessor. The lessee's occupation
of the property is proof the lease agreement was accepted.
, No, neither party needs to sign the written lease for validity. As long as a
consensus exists between the two parties, the lease is valid.
None of the Above. - ANSWER ✔ B
5. In early common law, transfers of land were only made when:
The transfer of land from husband to wife, upon the husband's death.
The transfer of land from father to child, upon the father's death.
The transfer of land from father to son, upon the father's death.
Both A and B - ANSWER ✔ C
6. Karen and Jay need a larger home. They have two large dogs and a baby on
the way. One day in the real estate section, they see their dream home. The
couple view the home that very day, make an offer and it's accepted. There's
only one problem: They haven't even put their home on the market. Which
type of loan gives Karen and Jay their best option of paying two mortgages
until their current home sells?
A Participation Mortgage
A Bridge Loan
A Sale-Leaseback
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
1. Calvin is buying his first home. He has been saving and saving for years.
The home he is buying has a price of $300,000 and Calvin has a down
payment of $75,000. Calvin's loan is considered:
Highly Secured
Low Risk
Simple Interest
Highly Leveraged - ANSWER ✔ B
2. When an appraiser assumes that no one is being forced to sell at a reduced
price because of an impending divorce or similar situation; and that both
buyer and seller are well-informed customers, he is more than likely hired to
determine:
Market Value
Insurance Value
Salvage Value
, All of the Above - ANSWER ✔ A
3. A Point of Beginning refers to:
A description starting at a designated place on a parcel using the Metes and
Bounds System.
A fixed object used to establish real estate boundaries using the Metes and
Bounds System.
Lines on either side of a principal meridian using the Rectangular Survey
System.
Lines running east and west parallel to a major base line using the
Government Survey System. - ANSWER ✔ A
4. Drew is leasing his apartment from Reggie. The lease is for one year and
they have agreed on all areas of the contract. The lease is in written form,
and Reggie is the only party that has signed. Without Drew's signature, is the
lease now invalid?
Yes, a lease in written form, must have both parties' signatures to be
validated.
No, the lessee is not required to sign, only the lessor. The lessee's occupation
of the property is proof the lease agreement was accepted.
, No, neither party needs to sign the written lease for validity. As long as a
consensus exists between the two parties, the lease is valid.
None of the Above. - ANSWER ✔ B
5. In early common law, transfers of land were only made when:
The transfer of land from husband to wife, upon the husband's death.
The transfer of land from father to child, upon the father's death.
The transfer of land from father to son, upon the father's death.
Both A and B - ANSWER ✔ C
6. Karen and Jay need a larger home. They have two large dogs and a baby on
the way. One day in the real estate section, they see their dream home. The
couple view the home that very day, make an offer and it's accepted. There's
only one problem: They haven't even put their home on the market. Which
type of loan gives Karen and Jay their best option of paying two mortgages
until their current home sells?
A Participation Mortgage
A Bridge Loan
A Sale-Leaseback
