Real Estate final exam practice
(Pearson VUE) questions and answers
fee simple -
correct answer ✅most complete form of property ownership.
also called fee absolute and indefeasible fee estate.
owner may do what they want with property
1. In order for a tenant to claim relief for constructive eviction: -
correct answer ✅the landlord must have intentionally withheld
required
repairs or maintenance
A buyer purchases a furnished condominium apartment
as an investment. The document that evidences the buyer's
ownership of the furniture is a: -
correct answer ✅bill of sale
A broker who enters into a property management contract
is considered a -
correct answer ✅fiduciary
A buyer's interest in real property, acquired at the moment
,Real Estate final exam practice
(Pearson VUE) questions and answers
the seller and the buyer enter into a sales contract, is
known as: -
correct answer ✅equitable interest
The appropriate time for a selling broker to explain the
agency relationship to a prospective buyer is: -
correct answer ✅at their initial meeting
A broker is asked to lease 1,200 square feet of warehouse
space at $6 per square foot per year. If the broker's
commission will be 8 percent of the first year's rental
income, the MAXIMUM amount payable is: -
correct answer ✅576
1200x6=7200
7200x.08= 576
A geographic region in which similar properties compete
with the subject property for potential buyers is called a: -
correct answer ✅market area
, Real Estate final exam practice
(Pearson VUE) questions and answers
In the absence of a formal appraisal report, which of the
following choices is the MOST appropriate for setting a
listing price in a new, rapidly selling neighborhood? -
correct answer ✅The price that willing buyers have recently paid
for
similar structures
Which of the following factors would be included in the
description of replacement cost? -
correct answer ✅Similar utility and current material
Under an exclusive right-to-sell listing, a broker has the
authority to take which of the following actions on behalf
of a seller? -
correct answer ✅Advertise the property for sale.
special or specific agency -
correct answer ✅the principal gives the agent authority to do one
specific thing on the principal's behalf: sell property. agreement will
list how the task will be done.
(Pearson VUE) questions and answers
fee simple -
correct answer ✅most complete form of property ownership.
also called fee absolute and indefeasible fee estate.
owner may do what they want with property
1. In order for a tenant to claim relief for constructive eviction: -
correct answer ✅the landlord must have intentionally withheld
required
repairs or maintenance
A buyer purchases a furnished condominium apartment
as an investment. The document that evidences the buyer's
ownership of the furniture is a: -
correct answer ✅bill of sale
A broker who enters into a property management contract
is considered a -
correct answer ✅fiduciary
A buyer's interest in real property, acquired at the moment
,Real Estate final exam practice
(Pearson VUE) questions and answers
the seller and the buyer enter into a sales contract, is
known as: -
correct answer ✅equitable interest
The appropriate time for a selling broker to explain the
agency relationship to a prospective buyer is: -
correct answer ✅at their initial meeting
A broker is asked to lease 1,200 square feet of warehouse
space at $6 per square foot per year. If the broker's
commission will be 8 percent of the first year's rental
income, the MAXIMUM amount payable is: -
correct answer ✅576
1200x6=7200
7200x.08= 576
A geographic region in which similar properties compete
with the subject property for potential buyers is called a: -
correct answer ✅market area
, Real Estate final exam practice
(Pearson VUE) questions and answers
In the absence of a formal appraisal report, which of the
following choices is the MOST appropriate for setting a
listing price in a new, rapidly selling neighborhood? -
correct answer ✅The price that willing buyers have recently paid
for
similar structures
Which of the following factors would be included in the
description of replacement cost? -
correct answer ✅Similar utility and current material
Under an exclusive right-to-sell listing, a broker has the
authority to take which of the following actions on behalf
of a seller? -
correct answer ✅Advertise the property for sale.
special or specific agency -
correct answer ✅the principal gives the agent authority to do one
specific thing on the principal's behalf: sell property. agreement will
list how the task will be done.
