AMP REAL ESTATE EXAMPREP
CERTIFICATION EVALUATION EXAM
QUESTIONS AND ANSWERS 2026
◉ 40. The borrowers offer of a $190,000 was accepted. She added
10% down payment and would like to avoid paying for Private
Mortgage Insurance. Is there a loan that would allow her to
accomplish her goal?
a. Yes if she can borrower $19,000 from a private source, tell the
lender she has a 20% down payment instead of a 10% down
payment and avoid private mortgage insurance.
b. Yes, if the seller will negotiate a purchase money mortgage for
$19,000 and agree to be in a second Lien position on the property,
she can avoid Private Mortgage Insurance.
c. No, because all borrowers must pay private Mortgage Insurance
when negotiating any type of loan
d. No, because private Mortgage Insurance is always paid when a
borrower has less than a 20% down payment
Answer: B. If the seller would lend her $19,000 as a purchase money
mortgage, she can avoid private Mortgage Insurance
◉ 41. Which of the following is not an example of a common
subdivision rule and regulation?
,a. The agreement that the property cannot be sold and used as a
waste disposal site
b. The agreement that a tree house cannot be built on the property
c. The agreement that walls and fences cannot exceed 4 feet in height
d. The agreement that no structure of a temporary character can be
constructed on any lot
Answer: A. This is an example of a deed condition placed on the
property by a grantor that is binding on all future owners
◉ 42. Which of the following is not an example of an apartment set
would transfer when the property is sold?
a. Easement
b. Lease
c. Deed restriction
d. License
Answer: D. A license is the revokable permission for a temporary
land use granted to another, but it does not transfer with the
property
◉ 43. A couple wants to list a home they have lived in for 38 years
because they have decided to move to Florida. They want a quick
sale. The listing agent is aware that zoning may change in the area,
which would greatly increase the value of the property. The agent
should
, a. Say nothing in case the zoning does not change
b. Inform the Sellers of all the facts she has regarding the zoning
change
c. Tell the seller that if the list at a reduced price, she has buyers and
might take an offer
d. Say nothing because if zoning does change, the listing contract will
be void anyway
Answer: B. The agent must inform the seller of all facts she has
regarding the possible zoning change and the consequences of
◉ 44. Which of the following is not to depreciation factor when
assessing the value of a property?
a. A house with four bedrooms on the second floor and a bath
located on the first floor
b. A hog farm located ½ mile down the road from a $250,000 home
c. A house located next to a city park
d. The house, which cost $50,000 to build 40 years ago with major
cracks the foundation
Answer: C. Depreciation does not occur because a house is located
next to a city park
◉ 45. What is a tenancy at will?
a. A tenancy created by the consent of the landlord
b. A tenancy that expires on a specific date
CERTIFICATION EVALUATION EXAM
QUESTIONS AND ANSWERS 2026
◉ 40. The borrowers offer of a $190,000 was accepted. She added
10% down payment and would like to avoid paying for Private
Mortgage Insurance. Is there a loan that would allow her to
accomplish her goal?
a. Yes if she can borrower $19,000 from a private source, tell the
lender she has a 20% down payment instead of a 10% down
payment and avoid private mortgage insurance.
b. Yes, if the seller will negotiate a purchase money mortgage for
$19,000 and agree to be in a second Lien position on the property,
she can avoid Private Mortgage Insurance.
c. No, because all borrowers must pay private Mortgage Insurance
when negotiating any type of loan
d. No, because private Mortgage Insurance is always paid when a
borrower has less than a 20% down payment
Answer: B. If the seller would lend her $19,000 as a purchase money
mortgage, she can avoid private Mortgage Insurance
◉ 41. Which of the following is not an example of a common
subdivision rule and regulation?
,a. The agreement that the property cannot be sold and used as a
waste disposal site
b. The agreement that a tree house cannot be built on the property
c. The agreement that walls and fences cannot exceed 4 feet in height
d. The agreement that no structure of a temporary character can be
constructed on any lot
Answer: A. This is an example of a deed condition placed on the
property by a grantor that is binding on all future owners
◉ 42. Which of the following is not an example of an apartment set
would transfer when the property is sold?
a. Easement
b. Lease
c. Deed restriction
d. License
Answer: D. A license is the revokable permission for a temporary
land use granted to another, but it does not transfer with the
property
◉ 43. A couple wants to list a home they have lived in for 38 years
because they have decided to move to Florida. They want a quick
sale. The listing agent is aware that zoning may change in the area,
which would greatly increase the value of the property. The agent
should
, a. Say nothing in case the zoning does not change
b. Inform the Sellers of all the facts she has regarding the zoning
change
c. Tell the seller that if the list at a reduced price, she has buyers and
might take an offer
d. Say nothing because if zoning does change, the listing contract will
be void anyway
Answer: B. The agent must inform the seller of all facts she has
regarding the possible zoning change and the consequences of
◉ 44. Which of the following is not to depreciation factor when
assessing the value of a property?
a. A house with four bedrooms on the second floor and a bath
located on the first floor
b. A hog farm located ½ mile down the road from a $250,000 home
c. A house located next to a city park
d. The house, which cost $50,000 to build 40 years ago with major
cracks the foundation
Answer: C. Depreciation does not occur because a house is located
next to a city park
◉ 45. What is a tenancy at will?
a. A tenancy created by the consent of the landlord
b. A tenancy that expires on a specific date
