Gold Coast Real Estate Chapter 1 Test Exam Questions
And Answers Verified 100% Correct
What is the nations largest trade and professional association in the field of real estate?
- ANSWER - The National Association of REALTORS
What is a REALTOR? - ANSWER - A member of the National Association of
REALTORS
Which action can a real estate licensee take to gain access to the MLS and become a
member of both the FAR are in the NAR? - ANSWER - join the local association of
REALTORS
All of the following are local government roles that affect the real estate industry, except:
- ANSWER - licensure of real estate professionals
All of the following are state level government factors that impact the real estate
industry, except: - ANSWER - water sewer and electric utilities
Monetary policy and legislation that affects lending institutions are examples of
government influence on the real estate industry at what level? - ANSWER - federal
The real estate market is local in nature. What does that mean? - ANSWER -
Information about real estate is best found a local sources.
You would expect a real estate licensee to perform all the following activities, EXCEPT:
- ANSWER * providing expert knowledge about construction methods and materials
A real estate licensee is expected to have expert knowledge in what three areas? -
ANSWER - valuation, marketing, and property transfer
What is a comparative market analysis? - ANSWER - A value estimate based on recent
sales of similar properties in the same neighborhood
Which type of valuation must be performed in accordance with the Uniform Standards of
Professional Appraisal Practice (USPAP)? - ANSWER - appraisal
Many real estate licensees engage in "farming." Which of the following best describes
what that means? - ANSWER - they concentrate on one type of property or in a
particular neighborhood
All of the following would be considered a commercial property, EXCEPT: - ANSWER *
A large house that has been subdivided into for apartments
And Answers Verified 100% Correct
What is the nations largest trade and professional association in the field of real estate?
- ANSWER - The National Association of REALTORS
What is a REALTOR? - ANSWER - A member of the National Association of
REALTORS
Which action can a real estate licensee take to gain access to the MLS and become a
member of both the FAR are in the NAR? - ANSWER - join the local association of
REALTORS
All of the following are local government roles that affect the real estate industry, except:
- ANSWER - licensure of real estate professionals
All of the following are state level government factors that impact the real estate
industry, except: - ANSWER - water sewer and electric utilities
Monetary policy and legislation that affects lending institutions are examples of
government influence on the real estate industry at what level? - ANSWER - federal
The real estate market is local in nature. What does that mean? - ANSWER -
Information about real estate is best found a local sources.
You would expect a real estate licensee to perform all the following activities, EXCEPT:
- ANSWER * providing expert knowledge about construction methods and materials
A real estate licensee is expected to have expert knowledge in what three areas? -
ANSWER - valuation, marketing, and property transfer
What is a comparative market analysis? - ANSWER - A value estimate based on recent
sales of similar properties in the same neighborhood
Which type of valuation must be performed in accordance with the Uniform Standards of
Professional Appraisal Practice (USPAP)? - ANSWER - appraisal
Many real estate licensees engage in "farming." Which of the following best describes
what that means? - ANSWER - they concentrate on one type of property or in a
particular neighborhood
All of the following would be considered a commercial property, EXCEPT: - ANSWER *
A large house that has been subdivided into for apartments
