1|Page
Perry Real Estate Final Exam|| QUESTIONS AND
CORRECT DETAILED ANSWERS||VERIFIED EXAM
(VERIFIED ANSWERS) |ALREADY GRADED
A+||NEWEST EXAM!!
a sales associate with one year of experience is managing a
broker's branch office, which is 45 miles from the main office.
Which of the following is TRUE?
-the sales associate is acting legally because she has enough
experience
-the sales associate is acting illegally because she does not have
enough experience
-the sales associate's experience does natter under license law
-none of the above - ANSWER-The sales associate is acting
illegally because she does not have enough experience
a recorded subdivision plat is used in the
-metes and bounds system
-rectangular survey system
-geodetic survey system
-lot and block system - ANSWER-lot and block system
The Commission cannot have more than __________ members
from one political party - ANSWER-4
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A parcel of land described as "the NW 1/4 and the SW 1/4 of
Section 6, T4N, R8W of the Third Principal Meridian" was sold
for $2,500 per acre. The listing broker will receive a 5%
commission on the total sales price. How much will the broker
receive? - ANSWER-$5,000
What is the cost of constructing a fence 6 ft 6 in high around a
lot measuring 90' x 175', if the cost of erecting the fence is
$1,25 per linear ft and the cost of material is $.825 per sg ft of
fence? - ANSWER-$3,505
A building is valued as $215,000 and contains 4 apartments that
rent for $470 each per month. The owner estimates that the
net operating income is 65% of the gross rental receipts. What
is the capitalization rate?
-3.7%
-14.2%
-10.5%
-6.8% - ANSWER-6.8%
Carbon monoxide is not
-quickly absorbed in the body
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-a result of incomplete combustion
-a natural result of combustion
-easy to detect - ANSWER-Carbon monoxide is not easy to
detect
When compared with a 30 year payment period, taking out a
loan with a 20 year payment period would result in
-lower monthly payments
-higher monthly payments
-greater impound requirements
-slower equity buildup - ANSWER-higher monthly payments
All of the following are subject to real property ownership rights
EXCEPT
-buildings located on the land
-air space above the land
-navigable rivers running through the land
-easements running with the land - ANSWER-navigable rivers
running through the land
All of the following are alternative risk management techniques
EXCEPT
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-ignoring it
-retaining it
-transferring it
-avoiding it - ANSWER-ignoring it
An important characteristic of land is that is may be modified or
improved at some point in time. Depending on its type, an
improvement may increase the value of real estate greatly. All
of the following are considered to be improvements EXCEPT
-buildings
-crops
-sewers
-roads - ANSWER-crops
Federal income tax regulations allow homeowners to reduce
their taxable income by amounts paid for
-repairs and maintenance
-hazard insurance premiums
-principal and interest
-real estate taxes - ANSWER-real estate taxes
A third party holds title to property on behalf of someone else
through the use of a
Perry Real Estate Final Exam|| QUESTIONS AND
CORRECT DETAILED ANSWERS||VERIFIED EXAM
(VERIFIED ANSWERS) |ALREADY GRADED
A+||NEWEST EXAM!!
a sales associate with one year of experience is managing a
broker's branch office, which is 45 miles from the main office.
Which of the following is TRUE?
-the sales associate is acting legally because she has enough
experience
-the sales associate is acting illegally because she does not have
enough experience
-the sales associate's experience does natter under license law
-none of the above - ANSWER-The sales associate is acting
illegally because she does not have enough experience
a recorded subdivision plat is used in the
-metes and bounds system
-rectangular survey system
-geodetic survey system
-lot and block system - ANSWER-lot and block system
The Commission cannot have more than __________ members
from one political party - ANSWER-4
,2|Page
A parcel of land described as "the NW 1/4 and the SW 1/4 of
Section 6, T4N, R8W of the Third Principal Meridian" was sold
for $2,500 per acre. The listing broker will receive a 5%
commission on the total sales price. How much will the broker
receive? - ANSWER-$5,000
What is the cost of constructing a fence 6 ft 6 in high around a
lot measuring 90' x 175', if the cost of erecting the fence is
$1,25 per linear ft and the cost of material is $.825 per sg ft of
fence? - ANSWER-$3,505
A building is valued as $215,000 and contains 4 apartments that
rent for $470 each per month. The owner estimates that the
net operating income is 65% of the gross rental receipts. What
is the capitalization rate?
-3.7%
-14.2%
-10.5%
-6.8% - ANSWER-6.8%
Carbon monoxide is not
-quickly absorbed in the body
,3|Page
-a result of incomplete combustion
-a natural result of combustion
-easy to detect - ANSWER-Carbon monoxide is not easy to
detect
When compared with a 30 year payment period, taking out a
loan with a 20 year payment period would result in
-lower monthly payments
-higher monthly payments
-greater impound requirements
-slower equity buildup - ANSWER-higher monthly payments
All of the following are subject to real property ownership rights
EXCEPT
-buildings located on the land
-air space above the land
-navigable rivers running through the land
-easements running with the land - ANSWER-navigable rivers
running through the land
All of the following are alternative risk management techniques
EXCEPT
, 4|Page
-ignoring it
-retaining it
-transferring it
-avoiding it - ANSWER-ignoring it
An important characteristic of land is that is may be modified or
improved at some point in time. Depending on its type, an
improvement may increase the value of real estate greatly. All
of the following are considered to be improvements EXCEPT
-buildings
-crops
-sewers
-roads - ANSWER-crops
Federal income tax regulations allow homeowners to reduce
their taxable income by amounts paid for
-repairs and maintenance
-hazard insurance premiums
-principal and interest
-real estate taxes - ANSWER-real estate taxes
A third party holds title to property on behalf of someone else
through the use of a
