1
REAL ESTATE EXPRESS FINAL EXAM ACTUAL
QUESTIONS AND CORRECT ANSWERS ALREADY
GRADED A+ GUARANTEED SUCCESS
A point, line, or surface from which elevations are major is known as the
Datum
A 3 year straight note was obtained at 10% per year interest pay first two years was
$42,000. The loan on the house was 75% of the value. What was the total value of
the property?
$280,000
-if 2yrs=$42,000 then 1yr=$21,000.
-At 10% the principal balance is $210,000
-since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000
A loan company was loan applicants a particular insurance company, which in turn
paid the loan company a referral fee. This is:
illegal, since the Real Estate Procedures Act prohibits kickbacks
A property was assessed at 25% of value with a text rate of $12 per hundred. If the
taxes totalled $11400 what was the value?
$380,000
Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950.
Multiply that by $100 for the total of $95000, which is 25% of the value. Then
divideby $95000 by 25% to obtain a 100% value of $38,000
, 2
If a borrower must pay $6000 for points on a $150,000 loan how many points is
the lender charging for this loan?
4 points
$6,000÷$150,000=.04 or 4 point
A brokerage was paid a commission of 6% of the 1st $120000 of the sales price
and 4% of everything over a $120,000 what would the sell price be if the total
commission was $9000?
$165,000
@6% commission was $7,200 (0.06×$120,000).
sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide
by $1,800, yielding $45,000. Then add $120,000; totalling $165,000
Broker Aubrey has a listing agreement with the seller Scarlett. one of Aubrey's
salesperson commits a license law by violation while interacting with Scarlett.
Aubrey
Could be responsible due to vicarious liability
Red lining deals with the conduct of?
Lending institutions
A person who dies without leaving a will is known as having died:
intestate
What is the principal federal statute that covers competition and is one of the most
important pieces of anti-trust legislation
The Sherman antitrust act of 1890
A house so for $350,000 the buyer made a 20% down payment. Monthly interest
on the loan was $1400 what was the interest rate on the loan?
6%
REAL ESTATE EXPRESS FINAL EXAM ACTUAL
QUESTIONS AND CORRECT ANSWERS ALREADY
GRADED A+ GUARANTEED SUCCESS
A point, line, or surface from which elevations are major is known as the
Datum
A 3 year straight note was obtained at 10% per year interest pay first two years was
$42,000. The loan on the house was 75% of the value. What was the total value of
the property?
$280,000
-if 2yrs=$42,000 then 1yr=$21,000.
-At 10% the principal balance is $210,000
-since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000
A loan company was loan applicants a particular insurance company, which in turn
paid the loan company a referral fee. This is:
illegal, since the Real Estate Procedures Act prohibits kickbacks
A property was assessed at 25% of value with a text rate of $12 per hundred. If the
taxes totalled $11400 what was the value?
$380,000
Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950.
Multiply that by $100 for the total of $95000, which is 25% of the value. Then
divideby $95000 by 25% to obtain a 100% value of $38,000
, 2
If a borrower must pay $6000 for points on a $150,000 loan how many points is
the lender charging for this loan?
4 points
$6,000÷$150,000=.04 or 4 point
A brokerage was paid a commission of 6% of the 1st $120000 of the sales price
and 4% of everything over a $120,000 what would the sell price be if the total
commission was $9000?
$165,000
@6% commission was $7,200 (0.06×$120,000).
sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide
by $1,800, yielding $45,000. Then add $120,000; totalling $165,000
Broker Aubrey has a listing agreement with the seller Scarlett. one of Aubrey's
salesperson commits a license law by violation while interacting with Scarlett.
Aubrey
Could be responsible due to vicarious liability
Red lining deals with the conduct of?
Lending institutions
A person who dies without leaving a will is known as having died:
intestate
What is the principal federal statute that covers competition and is one of the most
important pieces of anti-trust legislation
The Sherman antitrust act of 1890
A house so for $350,000 the buyer made a 20% down payment. Monthly interest
on the loan was $1400 what was the interest rate on the loan?
6%
