REAL ESTATE FUNDAMENTALS NEWEST ACTUAL EXAM
All of the following would affect demand EXCEPT:
- Fiscal Policy
- population
- demographics
- wage levels - ANSWER: Fiscal policy
When the population of a town suddenly increases, which of these is MOST likely to
occur?
- Real estate prices will increase
- demand for housing will decrease
- rental rates will fall due to increase competition
- new housing starts will decrease - ANSWER: Real estate prices will increase
A professional estimate of a property s market value, based on established methods
and using trained, professional judgment, is performed by a - ANSWER: real estate
appraiser
All of the following would affect supply EXCEPT
- population
- government controls
- construction costs
- the labor force - ANSWER: population
All of the following are categories of the uses of real property EXCEPT
- residential
- industrial
- developmental
- agricultural - ANSWER: developmental ( Residential, agricultural, and industrial are
all classifications of real estate. Development can occur with any of these types.)
Which of the following factors primarily affects supply in the real estate market?
- Government financial policies
- population
- employment
- demographics - ANSWER: Government financial policies
Schools would be considered part of which real estate classification?
- government-held
, - industrial
- special purpose
- commercial - ANSWER: special purpose
Detailed information about the age, education, behavior, and other characteristics of
members of a population group is called - ANSWER: demographics.
Which of the following factors is MOST LIKELY to influence demand for real estate?
- The number of real estate brokers in the area
- The wage levels and employment opportunities
- The number of rull-time real estate salespersons in the area
- The price of new homes being built in the area - ANSWER: The wage levels and
employment opportunities
Property management, appraisal, financing and development are all - ANSWER:
separate professions within the real estate industry
Method of annexation, adaptation to real estate, and agreement between the
parties are the legal tests for determining whether an item is - ANSWER: a fixture or
personal property
All of the following are treated as personal property EXCEPT
- Fructus naturales
- Emblements
- Trade fixtures
- Chattels - ANSWER: Fructus naturales ( Fructus naturales are real estate as they do
not require annual cultivation, unlike emblements.)
Land, mineral, and air rights in the land are included in teh definition of - ANSWER:
real property
Rights or privileges which are connected with real property, are - ANSWER:
appurtenances
The owner of a house wants to fence the yard for her dog. When the fence is
erected, the fencing materials are converted to real estate by - ANSWER: annexation
Another term for personal property is - ANSWER: chattels
According to law, a trade fixture is usually treated as - ANSWER: personalty.
Which of the following describes the act by which real property can be converted
into personal property? - ANSWER: Severance
All of the following would affect demand EXCEPT:
- Fiscal Policy
- population
- demographics
- wage levels - ANSWER: Fiscal policy
When the population of a town suddenly increases, which of these is MOST likely to
occur?
- Real estate prices will increase
- demand for housing will decrease
- rental rates will fall due to increase competition
- new housing starts will decrease - ANSWER: Real estate prices will increase
A professional estimate of a property s market value, based on established methods
and using trained, professional judgment, is performed by a - ANSWER: real estate
appraiser
All of the following would affect supply EXCEPT
- population
- government controls
- construction costs
- the labor force - ANSWER: population
All of the following are categories of the uses of real property EXCEPT
- residential
- industrial
- developmental
- agricultural - ANSWER: developmental ( Residential, agricultural, and industrial are
all classifications of real estate. Development can occur with any of these types.)
Which of the following factors primarily affects supply in the real estate market?
- Government financial policies
- population
- employment
- demographics - ANSWER: Government financial policies
Schools would be considered part of which real estate classification?
- government-held
, - industrial
- special purpose
- commercial - ANSWER: special purpose
Detailed information about the age, education, behavior, and other characteristics of
members of a population group is called - ANSWER: demographics.
Which of the following factors is MOST LIKELY to influence demand for real estate?
- The number of real estate brokers in the area
- The wage levels and employment opportunities
- The number of rull-time real estate salespersons in the area
- The price of new homes being built in the area - ANSWER: The wage levels and
employment opportunities
Property management, appraisal, financing and development are all - ANSWER:
separate professions within the real estate industry
Method of annexation, adaptation to real estate, and agreement between the
parties are the legal tests for determining whether an item is - ANSWER: a fixture or
personal property
All of the following are treated as personal property EXCEPT
- Fructus naturales
- Emblements
- Trade fixtures
- Chattels - ANSWER: Fructus naturales ( Fructus naturales are real estate as they do
not require annual cultivation, unlike emblements.)
Land, mineral, and air rights in the land are included in teh definition of - ANSWER:
real property
Rights or privileges which are connected with real property, are - ANSWER:
appurtenances
The owner of a house wants to fence the yard for her dog. When the fence is
erected, the fencing materials are converted to real estate by - ANSWER: annexation
Another term for personal property is - ANSWER: chattels
According to law, a trade fixture is usually treated as - ANSWER: personalty.
Which of the following describes the act by which real property can be converted
into personal property? - ANSWER: Severance
