Gold Coast 45 Hour Exam Questions(exam version H
2023) Graded A+;Answer key is just after the questions
and answers
Property managers who are employed and compensated by community
associations are required to obtain and maintain which type of license?
CAM
What term is used for the practice of specializing in one particular residential
neighborhood or type of property?
Farming
empty
upon closing a sales transaction who pays the sales associate their contracted
commission?
Employing Broker
Home sold for $250k with a garage, a home sold in the area for $230k with no
garage. From this information what can you determine the approximate value of
the garage is?
$20000
empty
which source will most likely produce the greatest # of potential buyers for a
listing?
Putting your listing on the MLS
empty
empty
The NAR code of ethics specifies duties of real-estate professionals according to
ethical standard of conduct. All of the following except?
Duties
empty
empty
What is primary purpose of building code regulations?
to protect public health, safety and general welfare
which auction system is involved with the enforcement of liens due to borrower
default?
Courthouse Auction
Which type of listing allows an owner to list his or her property with more than
one broker?
Open Listing
Which investment term refers to an asset that cannot be sold quickly without
lowering the price?
illiquid
empty
Which home staging and prep tip is suggested to help make home more
appealing?
Brighten room, cleaning window & turning on lights
What does a "double entry" refer to on a closing disclosure statement?
, Expenses between two parties to the transaction, with no third party involved.
What are the benefits of using a VA loan in a transaction?
little to no money down and low interest rates
What type of brokerage business specializes in selling or leasing income-
producing properties such as malls, offices, restaurants, gas stations, and office
towers?
Commercial Brokerage
empty
Which of the following statement best describes the practice of steering?
Is the practice of directing homebuyers toward or away from homes in certain
neighborhoods or in a multiunit building in order to preserve or alter the makeup of that
neighborhood with respect to race, religion, sex, or national origin.
It is important to qualify a seller by asking questions to understand there motive
and expectations. All of the following would be good questions except?
Which is always actually paid by a buyer?
empty
A pool cost $25,000 to install on a property, but only adds $15,000 to the
appraised value of the p[roperty. This is an example of which appraisal principle?
Contribution appraisal
empty
What two elements must be present in a contract to achieve complete
agreement?
Meeting of Minds
What kind of roof is susceptible to wear of standing water?
Flat Roof
empty
empty
Why is it important for you to begin qualifying a potential buyer upon initial
contact?
So you don't waist your time
empty
The Americans with disability act provides all of the following protections,
EXCEPT?
empty
All of the following types of insurance are typically associated with the closing of
a real estate transaction except?
empty
When can a lender obtain a deficiency judgment against a borrower?
When a mortgage foreclosure sale does not produce sufficient funds to pay the loan in
full, the lender can obtain a deficiency judgment.
Who is responsible for governing a condominium?
Governed by a board of directors or board of managers that maintains the common
elements and enforces the regulations.
What are fair housing laws designed to do?
2023) Graded A+;Answer key is just after the questions
and answers
Property managers who are employed and compensated by community
associations are required to obtain and maintain which type of license?
CAM
What term is used for the practice of specializing in one particular residential
neighborhood or type of property?
Farming
empty
upon closing a sales transaction who pays the sales associate their contracted
commission?
Employing Broker
Home sold for $250k with a garage, a home sold in the area for $230k with no
garage. From this information what can you determine the approximate value of
the garage is?
$20000
empty
which source will most likely produce the greatest # of potential buyers for a
listing?
Putting your listing on the MLS
empty
empty
The NAR code of ethics specifies duties of real-estate professionals according to
ethical standard of conduct. All of the following except?
Duties
empty
empty
What is primary purpose of building code regulations?
to protect public health, safety and general welfare
which auction system is involved with the enforcement of liens due to borrower
default?
Courthouse Auction
Which type of listing allows an owner to list his or her property with more than
one broker?
Open Listing
Which investment term refers to an asset that cannot be sold quickly without
lowering the price?
illiquid
empty
Which home staging and prep tip is suggested to help make home more
appealing?
Brighten room, cleaning window & turning on lights
What does a "double entry" refer to on a closing disclosure statement?
, Expenses between two parties to the transaction, with no third party involved.
What are the benefits of using a VA loan in a transaction?
little to no money down and low interest rates
What type of brokerage business specializes in selling or leasing income-
producing properties such as malls, offices, restaurants, gas stations, and office
towers?
Commercial Brokerage
empty
Which of the following statement best describes the practice of steering?
Is the practice of directing homebuyers toward or away from homes in certain
neighborhoods or in a multiunit building in order to preserve or alter the makeup of that
neighborhood with respect to race, religion, sex, or national origin.
It is important to qualify a seller by asking questions to understand there motive
and expectations. All of the following would be good questions except?
Which is always actually paid by a buyer?
empty
A pool cost $25,000 to install on a property, but only adds $15,000 to the
appraised value of the p[roperty. This is an example of which appraisal principle?
Contribution appraisal
empty
What two elements must be present in a contract to achieve complete
agreement?
Meeting of Minds
What kind of roof is susceptible to wear of standing water?
Flat Roof
empty
empty
Why is it important for you to begin qualifying a potential buyer upon initial
contact?
So you don't waist your time
empty
The Americans with disability act provides all of the following protections,
EXCEPT?
empty
All of the following types of insurance are typically associated with the closing of
a real estate transaction except?
empty
When can a lender obtain a deficiency judgment against a borrower?
When a mortgage foreclosure sale does not produce sufficient funds to pay the loan in
full, the lender can obtain a deficiency judgment.
Who is responsible for governing a condominium?
Governed by a board of directors or board of managers that maintains the common
elements and enforces the regulations.
What are fair housing laws designed to do?
