Chapter 1 - Gold Coast Real Estate
Homework
A contractor who builds on his or her own lot in the hopes of finding a purchaser upon
completion is building on
(a) Tract
(b) Custom
(c) Speculative
(d) Subdivision - ANS-(c) Speculative
\A developer acquires a large area of land to be divided up into lots that are sold individually
in a large neighborhood. This is an example of which type of building?
(a) Tract
(b) Custom
(c) Speculative
d) Subdivision - ANS-(a) Tract
\A developer contracts to build a home according to the buyer's specifications. This is an
example of which type of building?
(a) Tract
(b) Custom
(c) Speculative
(d) Subdivision - ANS-(b) Custom
\A real estate appraiser's fee for professional service is based on which of the following?
(a) A percentage of the property's gross income.
(b) A percentage of the fair market value of the property.
(c) The time and difficulty of the appraisal.
(d) A percentage of the property's sales price. - ANS-(c) The time and difficulty of the
appraisal.
\After completion of construction of a subdivision, the streets, sidewalks, and common areas
are frequently conveyed to the city or county in a process called:
(a) commencement
(b) a permit
(c) tract
(d) dedication - ANS-(d) dedication
\All of the following are responsibilities of a property manager, EXCEPT:
(a) Renting property for an absentee owner
(b) Collecting rent
(c) Overseeing maintenance
(d) Preparing leases - ANS-(d) Preparing leases
, \An appraiser who is registered, licensed, or certified under F.S. 475, Part II, must be utilized
in which of the following?
(a) All appraisals
(b) The appraisal of residential property
(c) The appraisal of nonresidential property
(d) Federally-related transactions - ANS-(d) Federally-related transactions
\An estimate of the value of property developed by a real estate licensee for use in listing or
selling property is known as a
(a) Fire Insurance Licensing
(b) Mortgage Listing Service
(c) Comparable Marketing Analysis. (CMA)
(d) Mortgage Loan Originator - ANS-(c) Comparable Marketing Analysis. (CMA)
\An estimate of the value of property developed by a real estate licensee for use in listing or
selling property is known as a ____________________________
(a) CMA
(b) CPA
(c) CMP
(d) PMP - ANS-(a) CMA
\Appraising is the process of developing an _____________________ of value.
(a) originator
(b) market
(c) opinion
(d) business - ANS-(c) opinion
\Mortgage loan originators are licensed in Florida by the____________________________
(a) Department Public Relations
(b) Florida Real Estate Commission
(c) Department of Financial Services
(d) National Association of Realtors - ANS-(c) Department of Financial Services
\Most Real Estate Licensees are involved in __________________________brokerage.
(a) Residential
(b) Commercial
(c) Real Estate
(d) Developer/Owner - ANS-(a) Residential
\One type of a residential sales transaction involves the sale of any improved residential
property of __________ units or less?
(a) 8
(b) 5
(c) 4
(d) 20 - ANS-(c) 4
Homework
A contractor who builds on his or her own lot in the hopes of finding a purchaser upon
completion is building on
(a) Tract
(b) Custom
(c) Speculative
(d) Subdivision - ANS-(c) Speculative
\A developer acquires a large area of land to be divided up into lots that are sold individually
in a large neighborhood. This is an example of which type of building?
(a) Tract
(b) Custom
(c) Speculative
d) Subdivision - ANS-(a) Tract
\A developer contracts to build a home according to the buyer's specifications. This is an
example of which type of building?
(a) Tract
(b) Custom
(c) Speculative
(d) Subdivision - ANS-(b) Custom
\A real estate appraiser's fee for professional service is based on which of the following?
(a) A percentage of the property's gross income.
(b) A percentage of the fair market value of the property.
(c) The time and difficulty of the appraisal.
(d) A percentage of the property's sales price. - ANS-(c) The time and difficulty of the
appraisal.
\After completion of construction of a subdivision, the streets, sidewalks, and common areas
are frequently conveyed to the city or county in a process called:
(a) commencement
(b) a permit
(c) tract
(d) dedication - ANS-(d) dedication
\All of the following are responsibilities of a property manager, EXCEPT:
(a) Renting property for an absentee owner
(b) Collecting rent
(c) Overseeing maintenance
(d) Preparing leases - ANS-(d) Preparing leases
, \An appraiser who is registered, licensed, or certified under F.S. 475, Part II, must be utilized
in which of the following?
(a) All appraisals
(b) The appraisal of residential property
(c) The appraisal of nonresidential property
(d) Federally-related transactions - ANS-(d) Federally-related transactions
\An estimate of the value of property developed by a real estate licensee for use in listing or
selling property is known as a
(a) Fire Insurance Licensing
(b) Mortgage Listing Service
(c) Comparable Marketing Analysis. (CMA)
(d) Mortgage Loan Originator - ANS-(c) Comparable Marketing Analysis. (CMA)
\An estimate of the value of property developed by a real estate licensee for use in listing or
selling property is known as a ____________________________
(a) CMA
(b) CPA
(c) CMP
(d) PMP - ANS-(a) CMA
\Appraising is the process of developing an _____________________ of value.
(a) originator
(b) market
(c) opinion
(d) business - ANS-(c) opinion
\Mortgage loan originators are licensed in Florida by the____________________________
(a) Department Public Relations
(b) Florida Real Estate Commission
(c) Department of Financial Services
(d) National Association of Realtors - ANS-(c) Department of Financial Services
\Most Real Estate Licensees are involved in __________________________brokerage.
(a) Residential
(b) Commercial
(c) Real Estate
(d) Developer/Owner - ANS-(a) Residential
\One type of a residential sales transaction involves the sale of any improved residential
property of __________ units or less?
(a) 8
(b) 5
(c) 4
(d) 20 - ANS-(c) 4
