Pearson Vue Practice Exam Questions
& Answers (Grade A+)
In stating a seller's price and terms to a prospective buyer, the
seller's broker is required by the law of agency to state ONLY those
terms that are
a. included in the listing agreement
b. based on the brokers evaluation of prevailing prices and terms
c. favorable for the seller, as determined by the broker
d. attractive to buyers, as determined by the broker -
correct answer ✅a. included in the listing agreement
a lot measuring 110 feet wide by 140 feet deep has a required
setback of 30 feet in front, 20 feet in the rear, and 20 feet on each
side. if a builder wants to put a one-story building on the lot, the
MAXIMUM square footage it can contain is
a. 3,300 sq ft
b. 3,600 sq ft
c. 6,300 sq ft
d. 6,600 sq ft -
correct answer ✅c. 6,300 sq ft
,Pearson Vue Practice Exam Questions
& Answers (Grade A+)
a house with a market value of $80,000 is located where property is
assessed at 70% of market value. if the tax rate is $4 per $100 of
assessed value, the property taxes are
a. $224
b. $960
c. $2,240
d. $3,200 -
correct answer ✅c. $2,240
a broker charges a leasing fee of one-half of the first months rent
and a management fee of 8% of all rents collected. the broker
negotiates a two-year lease at a monthly rental of $550. which of
the following amounts will the broker earn on this lease
a. $1,378
b $1,331
c. $1,287
d. $1,056 -
correct answer ✅b. $1,331
,Pearson Vue Practice Exam Questions
& Answers (Grade A+)
a property manager works in the BEST interests of the
a. tenant
b. owner
c. agent
d. bank -
correct answer ✅b. owner
in reviewing the deed to a listed property, a licensee noted a
number of limitations regarding its use. these limitations aare
commonly known as:
A. Codicils
B. constraints
C. building codes
D. restricted covenants -
correct answer ✅D. Restricted covenants
the price at which a willing and informed buyer would buy and a
willing and informed seller would sell is called the
, Pearson Vue Practice Exam Questions
& Answers (Grade A+)
a. assessed value
b. book value
c. income approach to value
d. market value -
correct answer ✅d. market value
the income approach is MOST likely to be used when determining
the value of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment -
correct answer ✅b. office building
the G's purchased a house from the T's. the G's agreed to the
following terms: monthly payments of $650 to the T's and the
balance to be paid in full after 7 years. at the time the balance is
paid, the T's will give the G's a warranty deed transferring title. in
this situation, what type of financing was used
& Answers (Grade A+)
In stating a seller's price and terms to a prospective buyer, the
seller's broker is required by the law of agency to state ONLY those
terms that are
a. included in the listing agreement
b. based on the brokers evaluation of prevailing prices and terms
c. favorable for the seller, as determined by the broker
d. attractive to buyers, as determined by the broker -
correct answer ✅a. included in the listing agreement
a lot measuring 110 feet wide by 140 feet deep has a required
setback of 30 feet in front, 20 feet in the rear, and 20 feet on each
side. if a builder wants to put a one-story building on the lot, the
MAXIMUM square footage it can contain is
a. 3,300 sq ft
b. 3,600 sq ft
c. 6,300 sq ft
d. 6,600 sq ft -
correct answer ✅c. 6,300 sq ft
,Pearson Vue Practice Exam Questions
& Answers (Grade A+)
a house with a market value of $80,000 is located where property is
assessed at 70% of market value. if the tax rate is $4 per $100 of
assessed value, the property taxes are
a. $224
b. $960
c. $2,240
d. $3,200 -
correct answer ✅c. $2,240
a broker charges a leasing fee of one-half of the first months rent
and a management fee of 8% of all rents collected. the broker
negotiates a two-year lease at a monthly rental of $550. which of
the following amounts will the broker earn on this lease
a. $1,378
b $1,331
c. $1,287
d. $1,056 -
correct answer ✅b. $1,331
,Pearson Vue Practice Exam Questions
& Answers (Grade A+)
a property manager works in the BEST interests of the
a. tenant
b. owner
c. agent
d. bank -
correct answer ✅b. owner
in reviewing the deed to a listed property, a licensee noted a
number of limitations regarding its use. these limitations aare
commonly known as:
A. Codicils
B. constraints
C. building codes
D. restricted covenants -
correct answer ✅D. Restricted covenants
the price at which a willing and informed buyer would buy and a
willing and informed seller would sell is called the
, Pearson Vue Practice Exam Questions
& Answers (Grade A+)
a. assessed value
b. book value
c. income approach to value
d. market value -
correct answer ✅d. market value
the income approach is MOST likely to be used when determining
the value of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment -
correct answer ✅b. office building
the G's purchased a house from the T's. the G's agreed to the
following terms: monthly payments of $650 to the T's and the
balance to be paid in full after 7 years. at the time the balance is
paid, the T's will give the G's a warranty deed transferring title. in
this situation, what type of financing was used
