REAL ESTATE U FINAL EXAM TEST BANK AND
STUDY GUIDE | ALL EXAM VERSIONS 1 , 2 AND 3
QUESTIONS AND ANSWERS | GRADED A | LATEST
UPDATE | 2024
Which of the following documents shows the list of owners to a property, from the original
owner to the present owner? - CORRECT ANSWER chain of title
In a sub-lease, who is responsible for paying rent to the landlord? - CORRECT ANSWER the
original tenant
The division of expenses and income between a buyer and seller at closing is known as...? -
CORRECT ANSWER proration
Who typically signs the sales contract first? - CORRECT ANSWER the buyer
A homeowner recently hired a broker to sell their house. If the property is destroyed by fire,
what happens to the agency relationship between the owner and their listing broker? -
CORRECT ANSWER The agency relationship is terminated
Who is responsible for prosecuting criminal actions for violations of the Real Property Law? -
CORRECT ANSWER attorney general
This occurs when a landlord takes matters into their own hands and removes a tenant from the
property? - CORRECT ANSWER actual eviction
Which of the following loans is considered interest-only? - CORRECT ANSWER straight
term loan
In which of the following loan types does the seller become the mortgagee? - CORRECT
ANSWER Purchase money mortgage
,Which of the following loans has a monthly payment that is lower in the early years but
increases over the term of the loan? - CORRECT ANSWER graduated payment mortgage
Loans created by commercial banks are bought and sold in the............ mortgage market. -
CORRECT ANSWER secondary
Which of the following parties gives a mortgage? - CORRECT ANSWER Mortgagor
Which of the following allows a borrower to obtain a lower interest rate by paying additional
points upfront to the lender? - CORRECT ANSWER buydown
If a property owner has been using their property as a manufacturing facility for the past 40
years, but the current zoning laws only allow residential use in the neighborhood, the
manufacturing facility will be considered as a/an...? - CORRECT ANSWER Non-conforming
use
If a property owner needs to obtain a variance on their property, which of the following should
they apply to...? - CORRECT ANSWER zoning board of appeals
Which of the following construction elements sits on top of the foundation of a wood-framed
house? - CORRECT ANSWER still plate
Brokers must maintain records of all real estate transactions for at least. . ? - CORRECT
ANSWER 3 years
The slope of a roof is also referred to as the...? - CORRECT ANSWER pitch
The lowest part of a roof, which projects beyond the wall of the structure is known as a/an. ? -
CORRECT ANSWER Eave
,Sheathing on the exterior of a building is typically what material? - CORRECT ANSWER
plywood
Which of the following building systems can provide both heating and cooling through the same
ducts? - CORRECT ANSWER forced warm air system
A circuit breaker is similar to which of the following? - CORRECT ANSWER fuse
Which of the following is a friable, naturally occurring mineral fiber material sometimes found
in insulation in older homes? - CORRECT ANSWER asbestos
Disclosures about lead-based paint must be provided for the sale of any home built prior to what
year? - CORRECT ANSWER 1978
The Fair Housing Act was enacted as part of what federal legislation? - CORRECT ANSWER
Civil Rights Act of 1968
The Civil Rights Act of 1866 made ......... only a protected class. - CORRECT ANSWER race
A broker represents an Asian-American client who is looking to rent a 2-bedroom apartment. If
the broker only shows the client apartments in predominantly Asian neighborhoods, they will
most likely be guilty of...? - CORRECT ANSWER steering
Which of the following individuals is required to file a Form 1099-MISC with the IRS? -
CORRECT ANSWER a real estate salesperson working under a sponsoring broker
Residential properties are appraised using which method? - CORRECT ANSWER sales
comparison approach
Which of the following is performed by an agent to determine how to market a residential listing
within a given marketplace? - CORRECT ANSWER residential market analysis
,
STUDY GUIDE | ALL EXAM VERSIONS 1 , 2 AND 3
QUESTIONS AND ANSWERS | GRADED A | LATEST
UPDATE | 2024
Which of the following documents shows the list of owners to a property, from the original
owner to the present owner? - CORRECT ANSWER chain of title
In a sub-lease, who is responsible for paying rent to the landlord? - CORRECT ANSWER the
original tenant
The division of expenses and income between a buyer and seller at closing is known as...? -
CORRECT ANSWER proration
Who typically signs the sales contract first? - CORRECT ANSWER the buyer
A homeowner recently hired a broker to sell their house. If the property is destroyed by fire,
what happens to the agency relationship between the owner and their listing broker? -
CORRECT ANSWER The agency relationship is terminated
Who is responsible for prosecuting criminal actions for violations of the Real Property Law? -
CORRECT ANSWER attorney general
This occurs when a landlord takes matters into their own hands and removes a tenant from the
property? - CORRECT ANSWER actual eviction
Which of the following loans is considered interest-only? - CORRECT ANSWER straight
term loan
In which of the following loan types does the seller become the mortgagee? - CORRECT
ANSWER Purchase money mortgage
,Which of the following loans has a monthly payment that is lower in the early years but
increases over the term of the loan? - CORRECT ANSWER graduated payment mortgage
Loans created by commercial banks are bought and sold in the............ mortgage market. -
CORRECT ANSWER secondary
Which of the following parties gives a mortgage? - CORRECT ANSWER Mortgagor
Which of the following allows a borrower to obtain a lower interest rate by paying additional
points upfront to the lender? - CORRECT ANSWER buydown
If a property owner has been using their property as a manufacturing facility for the past 40
years, but the current zoning laws only allow residential use in the neighborhood, the
manufacturing facility will be considered as a/an...? - CORRECT ANSWER Non-conforming
use
If a property owner needs to obtain a variance on their property, which of the following should
they apply to...? - CORRECT ANSWER zoning board of appeals
Which of the following construction elements sits on top of the foundation of a wood-framed
house? - CORRECT ANSWER still plate
Brokers must maintain records of all real estate transactions for at least. . ? - CORRECT
ANSWER 3 years
The slope of a roof is also referred to as the...? - CORRECT ANSWER pitch
The lowest part of a roof, which projects beyond the wall of the structure is known as a/an. ? -
CORRECT ANSWER Eave
,Sheathing on the exterior of a building is typically what material? - CORRECT ANSWER
plywood
Which of the following building systems can provide both heating and cooling through the same
ducts? - CORRECT ANSWER forced warm air system
A circuit breaker is similar to which of the following? - CORRECT ANSWER fuse
Which of the following is a friable, naturally occurring mineral fiber material sometimes found
in insulation in older homes? - CORRECT ANSWER asbestos
Disclosures about lead-based paint must be provided for the sale of any home built prior to what
year? - CORRECT ANSWER 1978
The Fair Housing Act was enacted as part of what federal legislation? - CORRECT ANSWER
Civil Rights Act of 1968
The Civil Rights Act of 1866 made ......... only a protected class. - CORRECT ANSWER race
A broker represents an Asian-American client who is looking to rent a 2-bedroom apartment. If
the broker only shows the client apartments in predominantly Asian neighborhoods, they will
most likely be guilty of...? - CORRECT ANSWER steering
Which of the following individuals is required to file a Form 1099-MISC with the IRS? -
CORRECT ANSWER a real estate salesperson working under a sponsoring broker
Residential properties are appraised using which method? - CORRECT ANSWER sales
comparison approach
Which of the following is performed by an agent to determine how to market a residential listing
within a given marketplace? - CORRECT ANSWER residential market analysis
,
