CE SHOP COMPREHENSIVE FINAL EXAM
2026 QUESTIONS AND CORRECT
SOLUTIONS GRADED A+
⩥ What's true about chlorofluorocarbons (CFCs)? Answer: They are
nontoxic
⩥ Karen meets the experience requirements related to credit analysis and
underwriting to qualify as a mortgage broker. At a minimum, how many
years' experience does she have? Answer: Two
⩥ Which of the following is true about positive misrepresentation?
Answer: A principal was harmed by the misstatement.
⩥ Nonresident applicants applying for New York real estate licensure
must agree to submit to the jurisdiction of New York courts. What form
must they also complete? Answer: Irrevocable consent and designation
form
⩥ Whether commercial, agricultural, residential, or industrial, all real
property within a jurisdiction has which of the following characteristics?
Answer: All are assessed.
,⩥ Tess has $385 in monthly non-housing debt obligations, and her
anticipated mortgage payment is $1,103. Her gross income is $7,598,
and her net income is $5,815. What's her total DTI (debt-to-income
ratio)? Answer: 19.58%
⩥ Margie loves to shop at the neighborhood shopping center near her.
The location is so convenient, and the parking lot is easy to get in and
out of, even though there can be a lot of traffic at certain times of the
day. Where is Margie's neighborhood shopping center located? Answer:
On a corner-lot, at the intersection of two major throroughfares
⩥ What is a binder? Answer: A written outline of the sales transaction
⩥ When marketing a commercial space to investor, what information
will they likely be most interested in? Answer: Cash flow analysis and
projections.
⩥ Gina is a tax assessor. Which of the following is true about her job?
Answer: She compares nearby property sales to determine market value.
⩥ How many anchor stores does a super-regional shopping center
normally have? Answer: three or more
, ⩥ What "quick and dirty" investment formula seeks to achieve a
percentage of gross monthly rental income as compared to purchase
price? Answer: 2%
⩥ Which of the following is a type of loose-fill insulation? Answer:
Vermiculite
⩥ Which type of financing do active investors generally seek? Answer:
Non-conventional
⩥ Your seller client needs to sell as soon as possible. How should you
respond if a prospective buyer asks you whether your seller is firm on
price? Answer: "The seller believes the home is priced fairly. I suggest
you write your highest and best offer."
⩥ Idina has filed a federal housing complaint after a landlord told her he
would o my rent her an aparenten if she had sex with him. After
investigating the complaint, HUD find reasonable cause to believe that
discrimination occurred. What happen next? Answer: HUD will inform
Idina
⩥ Consent is not present when _______. Answer: The contract is signed
under duress or undue influence
2026 QUESTIONS AND CORRECT
SOLUTIONS GRADED A+
⩥ What's true about chlorofluorocarbons (CFCs)? Answer: They are
nontoxic
⩥ Karen meets the experience requirements related to credit analysis and
underwriting to qualify as a mortgage broker. At a minimum, how many
years' experience does she have? Answer: Two
⩥ Which of the following is true about positive misrepresentation?
Answer: A principal was harmed by the misstatement.
⩥ Nonresident applicants applying for New York real estate licensure
must agree to submit to the jurisdiction of New York courts. What form
must they also complete? Answer: Irrevocable consent and designation
form
⩥ Whether commercial, agricultural, residential, or industrial, all real
property within a jurisdiction has which of the following characteristics?
Answer: All are assessed.
,⩥ Tess has $385 in monthly non-housing debt obligations, and her
anticipated mortgage payment is $1,103. Her gross income is $7,598,
and her net income is $5,815. What's her total DTI (debt-to-income
ratio)? Answer: 19.58%
⩥ Margie loves to shop at the neighborhood shopping center near her.
The location is so convenient, and the parking lot is easy to get in and
out of, even though there can be a lot of traffic at certain times of the
day. Where is Margie's neighborhood shopping center located? Answer:
On a corner-lot, at the intersection of two major throroughfares
⩥ What is a binder? Answer: A written outline of the sales transaction
⩥ When marketing a commercial space to investor, what information
will they likely be most interested in? Answer: Cash flow analysis and
projections.
⩥ Gina is a tax assessor. Which of the following is true about her job?
Answer: She compares nearby property sales to determine market value.
⩥ How many anchor stores does a super-regional shopping center
normally have? Answer: three or more
, ⩥ What "quick and dirty" investment formula seeks to achieve a
percentage of gross monthly rental income as compared to purchase
price? Answer: 2%
⩥ Which of the following is a type of loose-fill insulation? Answer:
Vermiculite
⩥ Which type of financing do active investors generally seek? Answer:
Non-conventional
⩥ Your seller client needs to sell as soon as possible. How should you
respond if a prospective buyer asks you whether your seller is firm on
price? Answer: "The seller believes the home is priced fairly. I suggest
you write your highest and best offer."
⩥ Idina has filed a federal housing complaint after a landlord told her he
would o my rent her an aparenten if she had sex with him. After
investigating the complaint, HUD find reasonable cause to believe that
discrimination occurred. What happen next? Answer: HUD will inform
Idina
⩥ Consent is not present when _______. Answer: The contract is signed
under duress or undue influence
