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Revision Examination Tests
“Come all for this Greatness”
... 100% Correct Ans ...
MIDDLETON REAL ESTATE FINAL EXAM
2024-2025 ACTUAL EXAM COMPLETE 200-
QUESTIONS AND CORRECT DETAILED ANSWERS
Quiz all of the following statements would be true of TRID except?
Ans: TRID requires a closing disclosure to be provided to the buyer 2 days before
the settlement date.
Quiz which of the following is not required when recording the deed with the county
clerks office?
Ans: two witnesses
Quiz which of the following was added to the federal fair housing act in 1988 when it
was amended?
Ans: familial status and handicapped
Quiz calculate the transfer tax that would be owed in Michigan on the sale of a
property sold for 186,000?
Ans: 1608.20
Quiz Which of the following statements is true in regards to a securities license?
Ans: The license is required when you sell real estate for others for a fee if you
exceed 1,000,000
Quiz which of the following would require an appraisal?
Ans: purchasing a property with a mortgage that will be provided by a federally
regulated lender
Quiz in the income capitalization approach to value
, Ans: as the capitalization rate goes up the value goes down
Quiz property was purchased for 200,000 with a loan of 80%. if the property
appraises for 180,000 what will the down payment be?
Ans: 56,000
Quiz an agency exists between which of the following?
Ans: broker/seller
Quiz building cost is 500,000 if there is a 39 year straight line depreciation and the
property is owned for 11 years what is the adjusted basis of this property?
Ans: 358,974.36
Quiz because the buyers are only putting 3% down which of the following would be
true?
Ans: the buyers will probably have an FHA loan
Quiz which of the following best describes commingling of funds?
Ans: The broker has mixed her own personal funds with those in her escrow
accounts
Quiz an owner is asking 100,000 for his house. an offer is received for 90,000. the
seller counters this offer for 95,000 and the buyer accepts the counter offer. this
represents;
Ans: Market price
Quiz which of the following could use VA benefits?
Ans: Spouse of a deceased veteran if not remarried
Quiz which legal description would The Tall Oak Tree most likely show up to?
Ans: Metes and bounds
Quiz the purpose of a reverse mortgage is?
Ans: To supplement the mortgagors income
Quiz private contracts on land use include?
Ans: Deed restrictions
Quiz a subordination agreement is used to
Revision Examination Tests
“Come all for this Greatness”
... 100% Correct Ans ...
MIDDLETON REAL ESTATE FINAL EXAM
2024-2025 ACTUAL EXAM COMPLETE 200-
QUESTIONS AND CORRECT DETAILED ANSWERS
Quiz all of the following statements would be true of TRID except?
Ans: TRID requires a closing disclosure to be provided to the buyer 2 days before
the settlement date.
Quiz which of the following is not required when recording the deed with the county
clerks office?
Ans: two witnesses
Quiz which of the following was added to the federal fair housing act in 1988 when it
was amended?
Ans: familial status and handicapped
Quiz calculate the transfer tax that would be owed in Michigan on the sale of a
property sold for 186,000?
Ans: 1608.20
Quiz Which of the following statements is true in regards to a securities license?
Ans: The license is required when you sell real estate for others for a fee if you
exceed 1,000,000
Quiz which of the following would require an appraisal?
Ans: purchasing a property with a mortgage that will be provided by a federally
regulated lender
Quiz in the income capitalization approach to value
, Ans: as the capitalization rate goes up the value goes down
Quiz property was purchased for 200,000 with a loan of 80%. if the property
appraises for 180,000 what will the down payment be?
Ans: 56,000
Quiz an agency exists between which of the following?
Ans: broker/seller
Quiz building cost is 500,000 if there is a 39 year straight line depreciation and the
property is owned for 11 years what is the adjusted basis of this property?
Ans: 358,974.36
Quiz because the buyers are only putting 3% down which of the following would be
true?
Ans: the buyers will probably have an FHA loan
Quiz which of the following best describes commingling of funds?
Ans: The broker has mixed her own personal funds with those in her escrow
accounts
Quiz an owner is asking 100,000 for his house. an offer is received for 90,000. the
seller counters this offer for 95,000 and the buyer accepts the counter offer. this
represents;
Ans: Market price
Quiz which of the following could use VA benefits?
Ans: Spouse of a deceased veteran if not remarried
Quiz which legal description would The Tall Oak Tree most likely show up to?
Ans: Metes and bounds
Quiz the purpose of a reverse mortgage is?
Ans: To supplement the mortgagors income
Quiz private contracts on land use include?
Ans: Deed restrictions
Quiz a subordination agreement is used to
