THE CE SHOP :FINAL EXAM GEORGIA
CORRECT QUESTION AND ANSWERS
"I'm sorry that you feel that way. I am obligated to obey the requests of
my clients, but I'm going to need you to write up your request and sign it,
so there's no way I can get in trouble for fair housing violations."
"I'm sorry that you feel that way. If I can't change your mind, I think we
should terminate our agreement, and you can look for another real
estate professional."
"Let's keep this off the record. We just need to make sure it all looks
legitimate from the outside." - CORRECT ANSWER -"I'm sorry that
you feel that way. If I can't change your mind, I think we should terminate
our agreement, and you can look for another real estate professional."
What's a benchmark?
A permanent reference point for marking datums
The beginning point for lot and block surveys
The beginning point for metes and bounds surveys
The beginning point for rectangular surveys - CORRECT ANSWER -
A permanent reference point for marking datums
Marcy listed her property with Jennings Homes in March. The market is
slow, and Marcy's property isn't in great condition, though she's sure she
,can get top dollar for it because of its location. Her agent encourages
her to either reduce the price or fix the property up, but she refuses.
Both Marcy and her agent are frustrated. What's the best option for both
of them?
Bring in another agent to help price the property.
Let the listing expire.
One party or the other should terminate the listing.
They can mutually agree to terminate the listing. - CORRECT
ANSWER -They can mutually agree to terminate the listing.
Which type of depreciation is a loss in value due to defects in a
structure's design?
Curable obsolescence
External obsolescence
Functional obsolescence
Physical deterioration - CORRECT ANSWER -Functional
obsolescence
Broker Alex learns that his friend Joann is frustrated with the broker who
listed her home. Alex encourages Joann to break her existing agency
agreement and sign with him instead. This violation is an example of
______.
,Contractual interference
Failure to disclose an agency relationship
Making a substantial and willful misrepresentation
Performing services that would qualify as practice of law - CORRECT
ANSWER -Contractual interference
A property that's been converted to natural gas may actually have which
issue?
A decrease in value
An undiscovered oil tank
Increased fuel bills
Remodeling problems - CORRECT ANSWER -An undiscovered oil
tank
Which of the following responsibilities does the commercial property
manager have that the residential property manager doesn't have?
Evict tenants who fail to comply with the terms and conditions of the
lease agreement
Negotiate leases
, Oversee the maintenance of buildings on the property
Screen and select potential tenants - CORRECT ANSWER -
Negotiate leases
Remembering the acronym PITI can help borrowers recall what makes
up their ______.
Annual property maintenance
Annual property taxes
Mortgage payment
Required loan documentation - CORRECT ANSWER -Mortgage
payment
Caveats to prospective buyers of condominiums include ______.
Boards retain association lawyers but rarely sue anyone
If there is an ongoing lawsuit with the association, an owner is still able
to sell a unit
Sometimes boards withhold information from other unit owners
CORRECT QUESTION AND ANSWERS
"I'm sorry that you feel that way. I am obligated to obey the requests of
my clients, but I'm going to need you to write up your request and sign it,
so there's no way I can get in trouble for fair housing violations."
"I'm sorry that you feel that way. If I can't change your mind, I think we
should terminate our agreement, and you can look for another real
estate professional."
"Let's keep this off the record. We just need to make sure it all looks
legitimate from the outside." - CORRECT ANSWER -"I'm sorry that
you feel that way. If I can't change your mind, I think we should terminate
our agreement, and you can look for another real estate professional."
What's a benchmark?
A permanent reference point for marking datums
The beginning point for lot and block surveys
The beginning point for metes and bounds surveys
The beginning point for rectangular surveys - CORRECT ANSWER -
A permanent reference point for marking datums
Marcy listed her property with Jennings Homes in March. The market is
slow, and Marcy's property isn't in great condition, though she's sure she
,can get top dollar for it because of its location. Her agent encourages
her to either reduce the price or fix the property up, but she refuses.
Both Marcy and her agent are frustrated. What's the best option for both
of them?
Bring in another agent to help price the property.
Let the listing expire.
One party or the other should terminate the listing.
They can mutually agree to terminate the listing. - CORRECT
ANSWER -They can mutually agree to terminate the listing.
Which type of depreciation is a loss in value due to defects in a
structure's design?
Curable obsolescence
External obsolescence
Functional obsolescence
Physical deterioration - CORRECT ANSWER -Functional
obsolescence
Broker Alex learns that his friend Joann is frustrated with the broker who
listed her home. Alex encourages Joann to break her existing agency
agreement and sign with him instead. This violation is an example of
______.
,Contractual interference
Failure to disclose an agency relationship
Making a substantial and willful misrepresentation
Performing services that would qualify as practice of law - CORRECT
ANSWER -Contractual interference
A property that's been converted to natural gas may actually have which
issue?
A decrease in value
An undiscovered oil tank
Increased fuel bills
Remodeling problems - CORRECT ANSWER -An undiscovered oil
tank
Which of the following responsibilities does the commercial property
manager have that the residential property manager doesn't have?
Evict tenants who fail to comply with the terms and conditions of the
lease agreement
Negotiate leases
, Oversee the maintenance of buildings on the property
Screen and select potential tenants - CORRECT ANSWER -
Negotiate leases
Remembering the acronym PITI can help borrowers recall what makes
up their ______.
Annual property maintenance
Annual property taxes
Mortgage payment
Required loan documentation - CORRECT ANSWER -Mortgage
payment
Caveats to prospective buyers of condominiums include ______.
Boards retain association lawyers but rarely sue anyone
If there is an ongoing lawsuit with the association, an owner is still able
to sell a unit
Sometimes boards withhold information from other unit owners
