Final real estate exam

FINAL REAL ESTATE EXAM | QUESTIONS
p p p p p p




& 100%CORRECTANSWERS(VERIFIED) |L
p p p p p p




ATESTUPDATE|GRADEA+ p p p p




Apreligiousporganizationphaspaskedptheirprealpestatepagentptophelppthempfindpappropertyptopc

onductpchurchpservices.pTheptypepofprealppropertypthepclientpispseekingpispclassifiedpas:

CorrectpAnswer:p Specialppurpose



Whopcreatespapreportpbasedptheirpvisualpfindingspofpapproperty?

CorrectpAnswer:p HomepInspector



Whichpofpthepfollowingpispnotpapfactorpthatpwouldpaffectpsupplypinptheprealpestatepmarket?

CorrectpAnswer:p Employmentpandpwageplevels



Whichpispnotponepofpthepsixpcategoriespofprealpproperty?

CorrectpAnswer:p Governmental



Onepcharacteristicpofprealpestatepsupplypandpdemandpispuniqueness,pwhichpofpthepfollowi

ngpispthepcorrectpdefinitionpforpthispcharacteristic?

CorrectpAnswer:p Nopmatterphowpidenticalptheypmaypappear,pnoptwopparcelspofprealpest

ateparepeverpexactlypalike;peachpoccupiespitspownpuniquepgeographicplocation




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,AllpofpthesepfactorspwillptendptopaffectpdemandpforprealpestatepEXCEPT

CorrectpAnswer:p transferptaxes



Appropertypownerpwhopdoespnotpwantptopdealpwithpthepeverydayptaskspofpmanagingpapren

talppropertypcanphire

CorrectpAnswer:p appropertypmanager.



OnepofpthepadvantagespofpRealpEstatepinvestmentspisphighpratepofpreturnspoverplongpp

eriods.pWhichpofpthepfollowingpclassifiespasplongpperiodspofptime?

CorrectpAnswer:p 10-20pyearsporpmore



Whatpareptheptwopfactorspthatpaffectpappreciation?

CorrectpAnswer:p inflationpandpintrinsicpvalue



Whichpofpthepfollowingpispappointpofpcontactpthatpisplicensedptopbuy,psellporpleasepproperty?

CorrectpAnswer:p Broker



Propertypmanagement,pappraisal,pfinancing,pandpdevelopmentparepall

CorrectpAnswer:p separatepprofessionspwithinptheprealpestatepindustry



Whatparepthep2pcharacteristicspofprealpestatepthatpgovernpbypthepwaypthepmarketpreactsptopthep

pressurepofpsupplypandpdemand?

CorrectpAnswer:p UniquenesspandpImmobility



2

,The

ofprealpestatepispthepresultpofpapperson'spindividualpchoicespandp

preferencespforpapgivenpgeographicparea.

CorrectpAnswer:p IntrinsicpValue



ItemspofpPersonalpPropertypsuchpaspCouches,pClothingpandpmoneyparepclassifiedpas

p .

CorrectpAnswer:p Chattels



Whichpofpthepfollowingprightspinpthepbundlepofplegalprightspallowsptheppropertypownerptopu

septheppropertypinpanyplegalpmanner?

CorrectpAnswer:p Rightpofpenjoyment



Whenpconductingpaplegalptestpofpapfixture,pwhichpofpthepfollowingpquestionpwouldpbepaske

dpwhenpconductingpthepmethodpofpannexation?

CorrectpAnswer:p Bothpbpandpc



Anpimportantpcharacteristicpofppersonalppropertypispthatpitpis

CorrectpAnswer:p movable



Thepmostpimportantpeconomicpcharacteristicpofplandpis

CorrectpAnswer:p location



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, Aptenantpfarmerpbuiltpapchickenpcooppandpaptoolpshed.pThesepbuildingspbelongptopthe

CorrectpAnswer: tenant



ThepLawpofpthepSeapidentifiespapcountry's

CorrectpAnswer: territorialpwaters



Apbuyerpparticularlyplikedpthepornatepbrassplightingpfixturespinpaphousepandpimmediatelypm

adepanpoffer,pwhichpthepsellerpaccepted.pOnpmovingpday,pthepbuyerpdiscoveredpthatpthepsell

erphadpreplacedpallpthepornatepbrassplightingpfixturespwithpplainpsteelpones.pWhichpofpthesep

ispMOSTplikelypapcorrectpassumption?

CorrectpAnswer: Buyer:p"Lightingpfixturesparepnormallypconsideredptopbeprealpproperty."



WhichplawplistedpbelowpDOESpNOTpaffectprealpestate?

CorrectpAnswer: Multinationalplaw



Anotherpwordpforpuniquenesspis

CorrectpAnswer: nonhomogeneity



Whichpofpthepfollowingpispnotpanpeconomicpcharacteristicpofprealpproperty?

CorrectpAnswer: Immobility



Whichpispnotpaponepofpthepbundlepofplegalprightspforprealpproperty?

CorrectpAnswer: RightptopconductpIllegalpActivity



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