PrepAgent Exam Questions With 100%
Correct Answers 2024/2025
wear and tear to the load-bearing members of a building would be classified as:
a. Functional obsolescence curable
B. Physical deterioration curable
C. Functional obsolescence incurable
D. Physical deterioration incurable
D. Physical deterioration incurable
physical damage to the load-bearing members of the building would be considered too expensive to
repair
granted exception to the rule
variance
cash or other property added to an exchange to make the value equal
boot
while the economy is experiencing inflation, interest rates
a. Drops and housing prices rise
B. Rise and housing prices drop
C. Rise and housing prices rise
d. None of the above
C. Rise and housing prices rise
on the up and up
the increase of value with the passage of time describes
a. Appreciation
B. Return on investment
C. Return of investment
D. Depreciation
a. Appreciation
appreciation is an increase in Worth or value due to economic causes, the opposite of depreciation
a broker secured a buyer for his principal and the seller accepted the offer presented through the
broker. Under which type of listing would the broker not receive the commission from the principle?
a. Net listing
B. Open listing
C. Exclusive listing
D. Exclusive authorization and right to sell listing
a. Net listing
this is an employment contract in which the broker receives as commission all access monies over the
minimum sales price
regarding a promissory note
a. A promissory note secured the deed of trust
b. The deed of trust secures the promissory note
C. The promissory note is not part of the deed of trust
D. The grant deed secures the promissory note
Correct Answers 2024/2025
wear and tear to the load-bearing members of a building would be classified as:
a. Functional obsolescence curable
B. Physical deterioration curable
C. Functional obsolescence incurable
D. Physical deterioration incurable
D. Physical deterioration incurable
physical damage to the load-bearing members of the building would be considered too expensive to
repair
granted exception to the rule
variance
cash or other property added to an exchange to make the value equal
boot
while the economy is experiencing inflation, interest rates
a. Drops and housing prices rise
B. Rise and housing prices drop
C. Rise and housing prices rise
d. None of the above
C. Rise and housing prices rise
on the up and up
the increase of value with the passage of time describes
a. Appreciation
B. Return on investment
C. Return of investment
D. Depreciation
a. Appreciation
appreciation is an increase in Worth or value due to economic causes, the opposite of depreciation
a broker secured a buyer for his principal and the seller accepted the offer presented through the
broker. Under which type of listing would the broker not receive the commission from the principle?
a. Net listing
B. Open listing
C. Exclusive listing
D. Exclusive authorization and right to sell listing
a. Net listing
this is an employment contract in which the broker receives as commission all access monies over the
minimum sales price
regarding a promissory note
a. A promissory note secured the deed of trust
b. The deed of trust secures the promissory note
C. The promissory note is not part of the deed of trust
D. The grant deed secures the promissory note
