Aceable Agent: Real Estate Principles:
Review Questions and Answers Top
Rated Latest Version
Question>> 1
Title insurance protects a buyer against
a. all claims from any source.
b. all claims except those excluded by the policy.
c. claims arising from the buyer's future actions.
d. any claims the buyer already knows about.
Correct Answer
B. All claims except those excluded by the policy
Question>> 2
Trevor owns a vacant lot and employs an appraiser to determine
the property's
a. growth.
b. reproduction cost.
c. replacement cost.
d. highest and best use.
Correct Answer
D. Highest and Best Use
Question>> 3
The Smiths' sale of their residence is
a. a release of equity.
b. a reassessment event.
c. a local assessment.
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,d. a notice of change of ownership.
Correct Answer
B. A reassessment event
Question>> 4
Closing is on June 15, and rent of $2,400 has been prepaid for the
current month. What amount will the seller be debited at closing
if the buyer receives credit for the day of closing?
a. $1,280
b. $1,200
c. $1,350
d. $2,200
Correct Answer
A. $1,280
Question>> 5
A holder in due course must take a negotiable instrument
a. within 90 days of its execution.
b. with knowledge of all defenses against it.
c. without notice of any defense against its enforcement.
d. for cash.
Correct Answer
C. Without notice of any defense against its enforcement
Question>> 6
A typewritten will must be
A. made by a competent person
B. signed by the testator
C. Witnessed
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,D. All of These
Correct Answer
D. All of These
Question>> 7
If a real estate license is NOT renewed before it expires, the
licensee
a. is allowed to complete transactions in progress.
b. is allowed to finish transactions that are substantially
complete.
c. must cease all real estate activities.
d. may act under authority of another agent's license for a
period not to exceed 60 days.
Correct Answer
C. Must cease all real estate activities
Question>> 8
An office building with an annual gross income of $70,175 sold for
$800,000. What is the building's gross income multiplier?
a. 11.4
b. 1.147
c. .0877
d. 12
Correct Answer
A. 11.4
Question>> 9
A retail business has a percentage lease based on 5% of gross
income of up to
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, $25,000 per month and 21⁄2% of gross income above that
amount. The minimum to be paid is $1,000 per month. For a
month in which the business has a gross income of
$47,000, what will be the rent payment?
a. $1,800
b. $4,675
c. $2,800
d. $3,675
Correct Answer
A. $1800
Question>> 10
A homeowner whose property is exempt from the requirements
of the federal Fair Housing Act will still be subject to
a. the 1866 Civil Rights Act.
b. the Housing Financial Discrimination Act.
c. the Subdivision Map Act.
d. the Subdivided Lands Law.
Correct Answer
A. The 1866 Civil Rights Act
Question>> 11
Which is not a mechanic
- An engineer
- An architect
- An apartment lessor
- An equipment lessor
Correct Answer
C. An apartment lessor
Page 4 of 101
Review Questions and Answers Top
Rated Latest Version
Question>> 1
Title insurance protects a buyer against
a. all claims from any source.
b. all claims except those excluded by the policy.
c. claims arising from the buyer's future actions.
d. any claims the buyer already knows about.
Correct Answer
B. All claims except those excluded by the policy
Question>> 2
Trevor owns a vacant lot and employs an appraiser to determine
the property's
a. growth.
b. reproduction cost.
c. replacement cost.
d. highest and best use.
Correct Answer
D. Highest and Best Use
Question>> 3
The Smiths' sale of their residence is
a. a release of equity.
b. a reassessment event.
c. a local assessment.
Page 1 of 101
,d. a notice of change of ownership.
Correct Answer
B. A reassessment event
Question>> 4
Closing is on June 15, and rent of $2,400 has been prepaid for the
current month. What amount will the seller be debited at closing
if the buyer receives credit for the day of closing?
a. $1,280
b. $1,200
c. $1,350
d. $2,200
Correct Answer
A. $1,280
Question>> 5
A holder in due course must take a negotiable instrument
a. within 90 days of its execution.
b. with knowledge of all defenses against it.
c. without notice of any defense against its enforcement.
d. for cash.
Correct Answer
C. Without notice of any defense against its enforcement
Question>> 6
A typewritten will must be
A. made by a competent person
B. signed by the testator
C. Witnessed
Page 2 of 101
,D. All of These
Correct Answer
D. All of These
Question>> 7
If a real estate license is NOT renewed before it expires, the
licensee
a. is allowed to complete transactions in progress.
b. is allowed to finish transactions that are substantially
complete.
c. must cease all real estate activities.
d. may act under authority of another agent's license for a
period not to exceed 60 days.
Correct Answer
C. Must cease all real estate activities
Question>> 8
An office building with an annual gross income of $70,175 sold for
$800,000. What is the building's gross income multiplier?
a. 11.4
b. 1.147
c. .0877
d. 12
Correct Answer
A. 11.4
Question>> 9
A retail business has a percentage lease based on 5% of gross
income of up to
Page 3 of 101
, $25,000 per month and 21⁄2% of gross income above that
amount. The minimum to be paid is $1,000 per month. For a
month in which the business has a gross income of
$47,000, what will be the rent payment?
a. $1,800
b. $4,675
c. $2,800
d. $3,675
Correct Answer
A. $1800
Question>> 10
A homeowner whose property is exempt from the requirements
of the federal Fair Housing Act will still be subject to
a. the 1866 Civil Rights Act.
b. the Housing Financial Discrimination Act.
c. the Subdivision Map Act.
d. the Subdivided Lands Law.
Correct Answer
A. The 1866 Civil Rights Act
Question>> 11
Which is not a mechanic
- An engineer
- An architect
- An apartment lessor
- An equipment lessor
Correct Answer
C. An apartment lessor
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