Real Estate Practice Exam Questions |
Strategies Review of Key Quizzes & Correct
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Terms in this set (90)
1. Brokerage definition... the business practice of bringing together the
parties in a practice.
2. What are two examples of special schools and cemetary
use property?
3. What is an example of functional bathroom
obsolescence?
4. Principal definition... a consumer of real estate services who has
entered into an agency relationship with a broker
or another licensee employed by a broker.
5. Capitalization definition... the process of determining the present value of a
property from it's future income.
6. What is the salespersons Inform the buyer
obligation to a buyer under single
agency listing?
, 8. All are examples of real estate factories
except...
9. What is homeowners insurance? Insurance to protect owners from fires and other
etc.
10. Special agent definition... the type of agency in which the principal
authorizes the agent to represent the agent in
"one specific transaction or business activity"
11. Which is not used to determine Gross Rent Multiplier Method
cost approach to estimate value?
-Quantity Survey Method
-Unit-in-Place Method
-Square Foot Method
-Gross Rent Multiplier Method
What is steering? the unlawful act of keeping a buyer away from
certain communities or guiding them to purchase
in certain communities.
15. Entitlement to commission when Except when listing broker does not disclose
transaction is not consummated. information
16. Can a salesperson give legal No, not unless they are an attorney.
advice?
17. Who determines the commission An agreement between the owner and broker
in a listing contract?
19. All are typical duties of a Investing profits
property manager with the
exception of...
Strategies Review of Key Quizzes & Correct
Answers, Verified with Grade A+ 2026
Save
Terms in this set (90)
1. Brokerage definition... the business practice of bringing together the
parties in a practice.
2. What are two examples of special schools and cemetary
use property?
3. What is an example of functional bathroom
obsolescence?
4. Principal definition... a consumer of real estate services who has
entered into an agency relationship with a broker
or another licensee employed by a broker.
5. Capitalization definition... the process of determining the present value of a
property from it's future income.
6. What is the salespersons Inform the buyer
obligation to a buyer under single
agency listing?
, 8. All are examples of real estate factories
except...
9. What is homeowners insurance? Insurance to protect owners from fires and other
etc.
10. Special agent definition... the type of agency in which the principal
authorizes the agent to represent the agent in
"one specific transaction or business activity"
11. Which is not used to determine Gross Rent Multiplier Method
cost approach to estimate value?
-Quantity Survey Method
-Unit-in-Place Method
-Square Foot Method
-Gross Rent Multiplier Method
What is steering? the unlawful act of keeping a buyer away from
certain communities or guiding them to purchase
in certain communities.
15. Entitlement to commission when Except when listing broker does not disclose
transaction is not consummated. information
16. Can a salesperson give legal No, not unless they are an attorney.
advice?
17. Who determines the commission An agreement between the owner and broker
in a listing contract?
19. All are typical duties of a Investing profits
property manager with the
exception of...
