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Metro Brokers Midterm EXAM ACTUAL EXAM
ALL NEWEST 300 QUESTIONS and CORRECT
ANSWERS LATEST UPDATE THIS YEAR
Metro Brokers Midterm
QUESTION: A property is listed for $210,000. On March 1, the owner accepts of written offer for
$205,000, and the closing date is set for June 15. On March 15, it was announced a new
shopping center will be built near the property, and the owner believes that the property is
now worth $245,000. Which of the following should determine the amount paid at closing? -
ANSWER-The amount specified by the accepted offer
QUESTION: Which of the following actions would NOT LIKELY create an agency relationship?
A. A broker shows several properties to a customer.
B. A broker agrees to find a buyer for a friends home for no commission.
C. A broker and seller sign a listing agreement.
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D. A broker manages a client's rental property. - ANSWER-A broker shows several properties to
a customer
QUESTION: A change in zoning from multifamily to single-family use would be an example of: -
ANSWER-Down-zoning
QUESTION: A buyer and seller have a verbal agreement stating the seller will pay all closing
costs. When the agreement was put in writing it stated the buyer would pay all closing costs. If
both the seller and buyer sign the agreement, who would MOST LIKELY be responsible for the
closing costs? - ANSWER-Buyer
Q; Which of the following is NOT considered to be an economic characteristic of land?
A. Scarcity.
B. Modification.
C. Location (situs)
D. Immobility. - ANSWER-D. Immobility
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QUESTION: A property was listed for $325,000 and the broker found a buyer who made an offer
of $315,000 which was not accepted by the seller. This situation would be best described as
a(an): - ANSWER-Rejected offer
QUESTION: A bowling alley is located on the outskirts of a city. The area was recently rezoned
for residential use. Will this change affect the present operation of the bowling alley? -
ANSWER-No, the bowling alley is considered a non-conforming use because it was constructed
prior to the enactment of the ordinance so it may continue operating
QUESTION: Under a lease, the leasehold estate is a right belonging to the: - ANSWER-Tenant
QUESTION: The developer of a property is planning to install an underground septic tank and
needs information to determine the soil's absorption and drainage capacity. This information
would be obtained from: - ANSWER-A percolation test
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QUESTION: To allow a more intensive use of a subdivision land, a zoning variation would be
required to permit which of the following? - ANSWER-An increase in the number of building
sites per acre
QUESTION: A listing agreement provides for the payment of a commission to the broker even if
the owner sells the property without the broker's help. This type of listing agreement is called: -
ANSWER-Exclusive right to sell listing
QUESTION: In a deed which of the following is TRUE?
A. The grantee is the seller
B. The grantee can be a minor
C. The grantor records the deed
D. The grantor is the buyer - ANSWER-B. The grantee can be a minor
QUESTION: Which of the following are NOT necessarily appurtenances that pass with the
transfer of real property?
A. Easements in gross
1 ALL THE BEST CHAMP!!
Metro Brokers Midterm EXAM ACTUAL EXAM
ALL NEWEST 300 QUESTIONS and CORRECT
ANSWERS LATEST UPDATE THIS YEAR
Metro Brokers Midterm
QUESTION: A property is listed for $210,000. On March 1, the owner accepts of written offer for
$205,000, and the closing date is set for June 15. On March 15, it was announced a new
shopping center will be built near the property, and the owner believes that the property is
now worth $245,000. Which of the following should determine the amount paid at closing? -
ANSWER-The amount specified by the accepted offer
QUESTION: Which of the following actions would NOT LIKELY create an agency relationship?
A. A broker shows several properties to a customer.
B. A broker agrees to find a buyer for a friends home for no commission.
C. A broker and seller sign a listing agreement.
1 ALL THE BEST CHAMP!!
, Page 2 of 105
D. A broker manages a client's rental property. - ANSWER-A broker shows several properties to
a customer
QUESTION: A change in zoning from multifamily to single-family use would be an example of: -
ANSWER-Down-zoning
QUESTION: A buyer and seller have a verbal agreement stating the seller will pay all closing
costs. When the agreement was put in writing it stated the buyer would pay all closing costs. If
both the seller and buyer sign the agreement, who would MOST LIKELY be responsible for the
closing costs? - ANSWER-Buyer
Q; Which of the following is NOT considered to be an economic characteristic of land?
A. Scarcity.
B. Modification.
C. Location (situs)
D. Immobility. - ANSWER-D. Immobility
1 ALL THE BEST CHAMP!!
, Page 3 of 105
QUESTION: A property was listed for $325,000 and the broker found a buyer who made an offer
of $315,000 which was not accepted by the seller. This situation would be best described as
a(an): - ANSWER-Rejected offer
QUESTION: A bowling alley is located on the outskirts of a city. The area was recently rezoned
for residential use. Will this change affect the present operation of the bowling alley? -
ANSWER-No, the bowling alley is considered a non-conforming use because it was constructed
prior to the enactment of the ordinance so it may continue operating
QUESTION: Under a lease, the leasehold estate is a right belonging to the: - ANSWER-Tenant
QUESTION: The developer of a property is planning to install an underground septic tank and
needs information to determine the soil's absorption and drainage capacity. This information
would be obtained from: - ANSWER-A percolation test
1 ALL THE BEST CHAMP!!
, Page 4 of 105
QUESTION: To allow a more intensive use of a subdivision land, a zoning variation would be
required to permit which of the following? - ANSWER-An increase in the number of building
sites per acre
QUESTION: A listing agreement provides for the payment of a commission to the broker even if
the owner sells the property without the broker's help. This type of listing agreement is called: -
ANSWER-Exclusive right to sell listing
QUESTION: In a deed which of the following is TRUE?
A. The grantee is the seller
B. The grantee can be a minor
C. The grantor records the deed
D. The grantor is the buyer - ANSWER-B. The grantee can be a minor
QUESTION: Which of the following are NOT necessarily appurtenances that pass with the
transfer of real property?
A. Easements in gross
1 ALL THE BEST CHAMP!!
