REAL ESTATE EXAM- MO & NATIONAL STUDY
A seller owned two plots of land that combined for a width of 950 ft and a depth of 1800 ft.
A creek divided the north plot from the south plot. What is the total acreage of the two
plots?
Correct answer: Draw a line to divide rectangle horizontally. Write 950 as width & 1800 ft
as depth.
Multiple 950 x 1800 =1,710,000
Then divide 1,710,000 by 43,560 to convert to acreage.
Answer is 39.25 rounded
A secretary in a real estate oice has passed the salesperson's exam but has not yet
received a license. This person could
Correct answer: give another salesperson in the oice the address of the listed property
the other salesperson wants to show
An owner builds a rec room onto her house, neighbor feels it will violate setback lines
established by city building codes. Does neighbor have the right to request an injunction?
Correct answer: Yes, under these circumstances she may ask for an injunction
A broker recieved EMD from the buyer. Oer wasn't accepted by the seller but money had
already been deposited. What should be done?
Correct answer: Broker should return EMD immediately to the buyer
In order to be in compliance with the Statute of Frauds, a sales contract must
Correct answer: be in writing
,The owner of an apartment building has just signed a managment agreement with a real
estate rm. In this situation, has an agency been formed?
Correct answer: Yes, an agency is formed when one party delegates to another the right to
act on their behalf.
A property was for sale for $129,000. An oer was made for $123,000. The seller
counteroered at $127,000. Would this oer be binding?
Correct answer: No oer is binding until both parties are in agreement.
What best describes a xture?
Correct answer: it was personal property at one time
A 16 year old bought a piece of property. Seller found out and wanted to void the deal.
Could he do this?
Correct answer: No, only the buyer could void the contract
X, a single person, and Y, a single person, want to take title to a property. They want
undivided interest. If one dies, the interst will be passed to the other. Which way of taking
title will best suit them?
Correct answer: Joint tenants with the right of survivorship
In the event of an EMD dispute, the broker should
Correct answer: contract sign a release or release it to the courts
After listing a home with a broker, a seller told the broker NOT to disclose the major
structural damanges in the house. The broker should
Correct answer: tell the buyer of all defects prior to writing the contract.
, To create joint tenancy there must be the unity of
Correct answer: P - possession
I - interest
T - time
T - title
Seller had his home listed with a broker. During listing period, seller found his own buyer
and refused to pay broker commission. Broker sued the seller and won. What type of listing
was this?
Correct answer: Exclusive Right to Sell
A property manager normally is in charge of all of the following duties except
Correct answer: repairing a tenant's xture
In 1988, John Smith built a 3 story apt building. To comply with Federal Fair Housing
Correct answer: Handicap tenants would need to have access to at least the rst oor
Elective credits for continuing education could be granted for a course
Correct answer: that is exclusively video-taped for classroom courses
Dole refused to sell his land to the local park district. He felt the price the park oered for
the land was not suicient consideration. If the park were to pursue the matter in court,
what proceeding would it institute to try to force Dole to sell?
Correct answer: Condemnation (process of eminent domain)
Rose family owns a home in a semi-rural area that is about 5 years old. They recently
announced plans for a new regional airport that will place their home directly in line with a
main runway, about one mile from its end. Will this diminish the value of the Rose home?
A seller owned two plots of land that combined for a width of 950 ft and a depth of 1800 ft.
A creek divided the north plot from the south plot. What is the total acreage of the two
plots?
Correct answer: Draw a line to divide rectangle horizontally. Write 950 as width & 1800 ft
as depth.
Multiple 950 x 1800 =1,710,000
Then divide 1,710,000 by 43,560 to convert to acreage.
Answer is 39.25 rounded
A secretary in a real estate oice has passed the salesperson's exam but has not yet
received a license. This person could
Correct answer: give another salesperson in the oice the address of the listed property
the other salesperson wants to show
An owner builds a rec room onto her house, neighbor feels it will violate setback lines
established by city building codes. Does neighbor have the right to request an injunction?
Correct answer: Yes, under these circumstances she may ask for an injunction
A broker recieved EMD from the buyer. Oer wasn't accepted by the seller but money had
already been deposited. What should be done?
Correct answer: Broker should return EMD immediately to the buyer
In order to be in compliance with the Statute of Frauds, a sales contract must
Correct answer: be in writing
,The owner of an apartment building has just signed a managment agreement with a real
estate rm. In this situation, has an agency been formed?
Correct answer: Yes, an agency is formed when one party delegates to another the right to
act on their behalf.
A property was for sale for $129,000. An oer was made for $123,000. The seller
counteroered at $127,000. Would this oer be binding?
Correct answer: No oer is binding until both parties are in agreement.
What best describes a xture?
Correct answer: it was personal property at one time
A 16 year old bought a piece of property. Seller found out and wanted to void the deal.
Could he do this?
Correct answer: No, only the buyer could void the contract
X, a single person, and Y, a single person, want to take title to a property. They want
undivided interest. If one dies, the interst will be passed to the other. Which way of taking
title will best suit them?
Correct answer: Joint tenants with the right of survivorship
In the event of an EMD dispute, the broker should
Correct answer: contract sign a release or release it to the courts
After listing a home with a broker, a seller told the broker NOT to disclose the major
structural damanges in the house. The broker should
Correct answer: tell the buyer of all defects prior to writing the contract.
, To create joint tenancy there must be the unity of
Correct answer: P - possession
I - interest
T - time
T - title
Seller had his home listed with a broker. During listing period, seller found his own buyer
and refused to pay broker commission. Broker sued the seller and won. What type of listing
was this?
Correct answer: Exclusive Right to Sell
A property manager normally is in charge of all of the following duties except
Correct answer: repairing a tenant's xture
In 1988, John Smith built a 3 story apt building. To comply with Federal Fair Housing
Correct answer: Handicap tenants would need to have access to at least the rst oor
Elective credits for continuing education could be granted for a course
Correct answer: that is exclusively video-taped for classroom courses
Dole refused to sell his land to the local park district. He felt the price the park oered for
the land was not suicient consideration. If the park were to pursue the matter in court,
what proceeding would it institute to try to force Dole to sell?
Correct answer: Condemnation (process of eminent domain)
Rose family owns a home in a semi-rural area that is about 5 years old. They recently
announced plans for a new regional airport that will place their home directly in line with a
main runway, about one mile from its end. Will this diminish the value of the Rose home?
