ACEABLE AGENT
PRINCIPLES OF REAL
ESTATE 2 PRACTICE
TEST
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
, Certainly! Here are all the questions numbered along with their answers:
1. **What is investment gain?**
An increase in property value due to active and purposeful developments or
improvements.
2. **Ben has recently purchased a policy for title insurance. Two weeks after making his
purchase, it is revealed that there were unknown liens attached to the title. What is TRUE of
this situation?**
Any problems that arise after policy purchase are not covered.
3. **Which of the following is an example of something that would be listed on a Closing
Disclosure as a credit to the buyer?**
A credit is an amount a person receives at closing.
4. **Gladys owns two properties: one is a residential property and the other is a plot of
undeveloped land. Which of the following is TRUE about Gladys' properties?**
She CAN claim depreciation on her residential property; she cannot claim depreciation on
her undeveloped land.
5. **Landlords MUST allow tenants with disabilities to make reasonable modifications to a
property so they can enjoy it. But there are also unreasonable modifications a landlord does
NOT have to allow; all of the following are unreasonable modifications EXCEPT:**
Modifications made at the tenant's expense.
6. **What does "REO" stand for?**
Real Estate Owned.
7. **In which of the following cases would a property manager NOT need a real estate
license?**
PRINCIPLES OF REAL
ESTATE 2 PRACTICE
TEST
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
, Certainly! Here are all the questions numbered along with their answers:
1. **What is investment gain?**
An increase in property value due to active and purposeful developments or
improvements.
2. **Ben has recently purchased a policy for title insurance. Two weeks after making his
purchase, it is revealed that there were unknown liens attached to the title. What is TRUE of
this situation?**
Any problems that arise after policy purchase are not covered.
3. **Which of the following is an example of something that would be listed on a Closing
Disclosure as a credit to the buyer?**
A credit is an amount a person receives at closing.
4. **Gladys owns two properties: one is a residential property and the other is a plot of
undeveloped land. Which of the following is TRUE about Gladys' properties?**
She CAN claim depreciation on her residential property; she cannot claim depreciation on
her undeveloped land.
5. **Landlords MUST allow tenants with disabilities to make reasonable modifications to a
property so they can enjoy it. But there are also unreasonable modifications a landlord does
NOT have to allow; all of the following are unreasonable modifications EXCEPT:**
Modifications made at the tenant's expense.
6. **What does "REO" stand for?**
Real Estate Owned.
7. **In which of the following cases would a property manager NOT need a real estate
license?**
