STUDENTS SUCCESS
Revision Examination Tests
“Come all for this Greatness”
... 100% Correct Ans ...
EXAM #4
TEST 2024-2025 ACTUAL EXAM COMPLETE 200-
QUESTIONS AND CORRECT DETAILED ANSWERS
Quiz May a street address be used as a legal description on documents used in a
real estate sale transaction?
a) Yes, a street address is acceptable, but it may make it difficult to get a loan on the
property.
b) No, a street address is not a legal description of the property.
c) A street address is acceptable for most purposes, but title insurers may choose
not to insure the property.
d) It is always an adequate means of description.
Ans: b) No, a street address is not a legal description of the property.
Quiz Which of the following is not personal property?
a) An appurtenant easement.
b) A leasehold interest in real estate.
c) A trade fixture.
d) An automobile or boat.
Ans: a) An appurtenant easement.
Quiz Which of the following normally installs conduits over the course of their
professional practice?
,a) Roofers.
b) Carpenters.
c) Electricians.
d) Plumbers.
Ans: c) Electricians.
Quiz An example of involuntary alienation is a(n):
a) zoning restriction.
b) easement by reservation
c) eminent domain action.
d) escheat.
Ans: c) eminent domain action.
Quiz The SW 1/4 of the N 1/2 of section 12 contains how many acres?
a) 160
b) 80
c) 40
d) 320
Ans: b) 80
Quiz A listing broker may be the sole agent of the seller or:
a) the sole agent of the buyer.
b) a dual agent of both the seller and the buyer.
c) a dual agent of both the lender and the buyer.
d) a dual agent of the both the seller and the buyer's broker.
Ans: b) a dual agent of both the seller and the buyer.
,Quiz A broker represents only the lessee in a commercial lease. This is an example
of a(n):
a) general agency.
b) implied agency.
c) dual agency.
d) single agency.
Ans: d) single agency.
Quiz The appraisal method that estimates the cost of all labor and materials in
construction is the:
a) comparison method.
b) unit-in-place method.
c) quantity survey method.
d) capitalization method.
Ans: c) quantity survey method.
Quiz If the eventual highest and best use of a parcel of real estate cannot be realized
for a period of time, the current use is referred to as the:
a) temporary use.
b) current use.
c) less than highest and best use.
d) interim use.
Ans: d) interim use.
Quiz When appraising a building which operates as a restaurant, an appraiser likely
uses the:
a) market data approach.
b) replacement cost approach.
, c) reproduction cost approach.
d) income approach.
Ans: d) income approach.
Quiz In estimating the value of Fran's single family residence (SFR), the appraiser
uses the same gross rent multiplier (GRM) that has been computed for comparable
properties in the same neighborhood. The comparable properties generate a rental
amount of $3,000 per month and were recently sold for an average of $450,000. The
owner's property currently generates $3,200 per month in rent. The estimated value
of the subject property is:
a) 450000
b) 480000
c) 510000
d) 540000
Ans: b) 480000
Quiz Rental schedules for apartments are realistically established on what basis?
a) The cost to build the property.
b) The number of occupants a property can house.
c) A market comparison of similar apartments.
d) Rental data published in the local newspaper.
Ans: c) A market comparison of similar apartments.
Quiz What is the maximum fee a Real Estate Settlement Procedures Act (RESPA)-
controlled lender may charge to a borrower for the preparation of mandatory
disclosures?
a) 0.5% of loan amount.
b) $25.00.
c) $100.00 for jumbo loans.
d) Nothing.
Revision Examination Tests
“Come all for this Greatness”
... 100% Correct Ans ...
EXAM #4
TEST 2024-2025 ACTUAL EXAM COMPLETE 200-
QUESTIONS AND CORRECT DETAILED ANSWERS
Quiz May a street address be used as a legal description on documents used in a
real estate sale transaction?
a) Yes, a street address is acceptable, but it may make it difficult to get a loan on the
property.
b) No, a street address is not a legal description of the property.
c) A street address is acceptable for most purposes, but title insurers may choose
not to insure the property.
d) It is always an adequate means of description.
Ans: b) No, a street address is not a legal description of the property.
Quiz Which of the following is not personal property?
a) An appurtenant easement.
b) A leasehold interest in real estate.
c) A trade fixture.
d) An automobile or boat.
Ans: a) An appurtenant easement.
Quiz Which of the following normally installs conduits over the course of their
professional practice?
,a) Roofers.
b) Carpenters.
c) Electricians.
d) Plumbers.
Ans: c) Electricians.
Quiz An example of involuntary alienation is a(n):
a) zoning restriction.
b) easement by reservation
c) eminent domain action.
d) escheat.
Ans: c) eminent domain action.
Quiz The SW 1/4 of the N 1/2 of section 12 contains how many acres?
a) 160
b) 80
c) 40
d) 320
Ans: b) 80
Quiz A listing broker may be the sole agent of the seller or:
a) the sole agent of the buyer.
b) a dual agent of both the seller and the buyer.
c) a dual agent of both the lender and the buyer.
d) a dual agent of the both the seller and the buyer's broker.
Ans: b) a dual agent of both the seller and the buyer.
,Quiz A broker represents only the lessee in a commercial lease. This is an example
of a(n):
a) general agency.
b) implied agency.
c) dual agency.
d) single agency.
Ans: d) single agency.
Quiz The appraisal method that estimates the cost of all labor and materials in
construction is the:
a) comparison method.
b) unit-in-place method.
c) quantity survey method.
d) capitalization method.
Ans: c) quantity survey method.
Quiz If the eventual highest and best use of a parcel of real estate cannot be realized
for a period of time, the current use is referred to as the:
a) temporary use.
b) current use.
c) less than highest and best use.
d) interim use.
Ans: d) interim use.
Quiz When appraising a building which operates as a restaurant, an appraiser likely
uses the:
a) market data approach.
b) replacement cost approach.
, c) reproduction cost approach.
d) income approach.
Ans: d) income approach.
Quiz In estimating the value of Fran's single family residence (SFR), the appraiser
uses the same gross rent multiplier (GRM) that has been computed for comparable
properties in the same neighborhood. The comparable properties generate a rental
amount of $3,000 per month and were recently sold for an average of $450,000. The
owner's property currently generates $3,200 per month in rent. The estimated value
of the subject property is:
a) 450000
b) 480000
c) 510000
d) 540000
Ans: b) 480000
Quiz Rental schedules for apartments are realistically established on what basis?
a) The cost to build the property.
b) The number of occupants a property can house.
c) A market comparison of similar apartments.
d) Rental data published in the local newspaper.
Ans: c) A market comparison of similar apartments.
Quiz What is the maximum fee a Real Estate Settlement Procedures Act (RESPA)-
controlled lender may charge to a borrower for the preparation of mandatory
disclosures?
a) 0.5% of loan amount.
b) $25.00.
c) $100.00 for jumbo loans.
d) Nothing.
