RECP Module 1 Exam Questions &
Answers (Grade A+)
broker -
correct answer ✅one who for a commission acts as an
intermediary or agent for another who is buying, selling, leasing or
exchanging real estate; a real estate broker must be licensed by the
state to perform these activities.
market -
correct answer ✅a place where goods can be bought and sold,
where a price can be established and where buyers and sellers can
trade
salesperson -
correct answer ✅a person who performs real estate activities
while employed by, or associated with, a licensed real estate broker.
Supply -
correct answer ✅the amount of goods available in the market
place to be sold at a given time for a given price
Demand -
correct answer ✅The amount of goods people are willing and able
to purchase at a given price.
, RECP Module 1 Exam Questions &
Answers (Grade A+)
Agricultural real estate -
correct answer ✅farms, timberland, ranches, orchards, and
pasture land
Commercial Real Estate -
correct answer ✅Business Property including office space,
shopping centers, stores, theaters, hotels, and parking facilities,
executive offices
Industrial real estate -
correct answer ✅Warehouses, factories, land in industrial districts
and power plants.
Residential real estate -
correct answer ✅All propert used for single-family or multifamily
housing whether in urban, suburban, or rural areas.
Special-purpose real estate -
correct answer ✅Churches, schools, cemeteries, and government-
held lands
Answers (Grade A+)
broker -
correct answer ✅one who for a commission acts as an
intermediary or agent for another who is buying, selling, leasing or
exchanging real estate; a real estate broker must be licensed by the
state to perform these activities.
market -
correct answer ✅a place where goods can be bought and sold,
where a price can be established and where buyers and sellers can
trade
salesperson -
correct answer ✅a person who performs real estate activities
while employed by, or associated with, a licensed real estate broker.
Supply -
correct answer ✅the amount of goods available in the market
place to be sold at a given time for a given price
Demand -
correct answer ✅The amount of goods people are willing and able
to purchase at a given price.
, RECP Module 1 Exam Questions &
Answers (Grade A+)
Agricultural real estate -
correct answer ✅farms, timberland, ranches, orchards, and
pasture land
Commercial Real Estate -
correct answer ✅Business Property including office space,
shopping centers, stores, theaters, hotels, and parking facilities,
executive offices
Industrial real estate -
correct answer ✅Warehouses, factories, land in industrial districts
and power plants.
Residential real estate -
correct answer ✅All propert used for single-family or multifamily
housing whether in urban, suburban, or rural areas.
Special-purpose real estate -
correct answer ✅Churches, schools, cemeteries, and government-
held lands
