PRINCIPLES OF REAL ESTATE 1 ACTUAL QUESTIONS AND CORRECT ANSWERS COMPLETE STUDY GUIDE

PRINCIPLES OF REAL ESTATE 1 ACTUAL
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE

●● A means of comparing similar type properties, which have recently
sold, to the subject property is known as the?
Answer: Market Comparison Approach


●● The market comparison approach is commonly used for this property
type?
Answer: Residential


●● The amount of goods offered for sale within a given market at a
given price during a given time period is known as?
Answer: Supply


●● A real estate agent is an example of what type of agent?
Answer: Special agent


●● A refrigerator is typically considered?
Answer: Personal Property

, ●● Mobile homes not permanently attached to the land are generally
considered?
Answer: Personal Property


●● Which of the following is considered a legal test for determining if
an item is a fixture or not?
Answer: Mode and permanence of how the item was attached
Adaptation of the item
Intention of the parties
All of the above


●● The right of exclusion, which allows a landowner to prevent others
from entering or occupying their property, is included in the?
Answer: Bundle of rights


●● Which of the following is an example of a fixture?
Answer: Kitchen cabinets


●● Which of the following is an advantage to owning a home?
Answer: Potential for asset appreciation
Tax benefits
Pride of ownership
All of the above