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Real Estate Practice Exam Questions With verified solutions

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Institution Real Estate Practice
Course Real Estate Practice
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Real Estate Practice Exam Questions With verified solutions 1. Brokerage definition... - ANSthe business practice of bringing together the parties in a practice. 2. What are two examples of special use property? - ANSschools and cemetary 3. What is an example of functional obsolescence? - ANSbathroom 4. Principal definition... - ANSa 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... - ANSthe process of determining the present value of a property from it's future income. 6. What is the salespersons obligation to a buyer under single agency listing? - ANSInform the buyer 8. All are examples of real estate except... - ANSfactories 9. What is homeowners insurance? - ANSInsurance to protect owners from fires and other etc. 10. Special agent definition... - ANSthe type of agency in which the principal authorizes the agent to represent the agent i

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