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
1
,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
3
, 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
4
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
1
,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
3
, 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
4
