CHAMPIONS REAL ESTATE CERTIFICATION
SCRIPT 2026 COMPLETE QUESTIONS AND
CORRECT ANSWERS
◉Land is developed.... Answer: by appearance, location and scenic
value
◉Land is described.... Answer: by utility and suitability for a specific
use
◉Land and Real Estate property. Answer: must be described in a
distinguishable manner from personal property.
◉4 Economic Characteristics of Land. Answer: Scarcity
Modification
Fixity
Situs
◉Indestructibility or durability. Answer: Land cannot be destroyed
,◉Immobility. Answer: land cannot be moved, owner must go to the
land
◉Non-homogeneity. Answer: no 2 parcels of land is the same.
◉Scarcity. Answer: supply and demand. Shortage of what people
want price goes up; less land price increases, more land price
decreases
◉Modification. Answer: value is affected by man-made changes to
the land itself or offsite improvements
◉Fixity. Answer: land and addition to land take a long time to pay
for themselves.
◉Situs. Answer: Location of property or land from and economic not
geographic viewpoint
◉value. Answer: fair return in goods, services or money for
something exchanged. The monetary worth of something.
◉Real Estate Value. Answer: determined by personal preference
which is subjective
, ◉Supply and demand. Answer: high demand=low inventory, price
increases
Low Demand=high inventory, price decreases
◉Supply is restricted by. Answer: Land costs
construction
taxation
economics
building and zoning ordinances
Growth policies of cities
◉Demand is affected by. Answer: Growth in employment
transportation systems
personal preference
availability in credit
Federal Govt policy
◉Value is affected by. Answer: Federal income Tax policy
supply of money
monetary policy of fed reserve
interest rates
SCRIPT 2026 COMPLETE QUESTIONS AND
CORRECT ANSWERS
◉Land is developed.... Answer: by appearance, location and scenic
value
◉Land is described.... Answer: by utility and suitability for a specific
use
◉Land and Real Estate property. Answer: must be described in a
distinguishable manner from personal property.
◉4 Economic Characteristics of Land. Answer: Scarcity
Modification
Fixity
Situs
◉Indestructibility or durability. Answer: Land cannot be destroyed
,◉Immobility. Answer: land cannot be moved, owner must go to the
land
◉Non-homogeneity. Answer: no 2 parcels of land is the same.
◉Scarcity. Answer: supply and demand. Shortage of what people
want price goes up; less land price increases, more land price
decreases
◉Modification. Answer: value is affected by man-made changes to
the land itself or offsite improvements
◉Fixity. Answer: land and addition to land take a long time to pay
for themselves.
◉Situs. Answer: Location of property or land from and economic not
geographic viewpoint
◉value. Answer: fair return in goods, services or money for
something exchanged. The monetary worth of something.
◉Real Estate Value. Answer: determined by personal preference
which is subjective
, ◉Supply and demand. Answer: high demand=low inventory, price
increases
Low Demand=high inventory, price decreases
◉Supply is restricted by. Answer: Land costs
construction
taxation
economics
building and zoning ordinances
Growth policies of cities
◉Demand is affected by. Answer: Growth in employment
transportation systems
personal preference
availability in credit
Federal Govt policy
◉Value is affected by. Answer: Federal income Tax policy
supply of money
monetary policy of fed reserve
interest rates
