Pearson vue real estate Exam, Multiple Choice
Questions And Correct Answers.
If a licensee is paid a salary of $600 per month plus half of the office's 6% fee on
all sales, what MUST the licensee's monthly sales be in order for the licensee to
receive a total monthly income of $2,220?
A. 27,000
B. 37,000
C. 54,000
D. 74,000
An agreement that restricts the use and occupancy of real estate, is part of a
conveyance, and is binding on all subsequent buyers is called a(n):
A. Agreement for deed
B. Non conforming use
C. Documentary tax
D. Covenant
Which of the following items would have to be disclosed to prospective buyers by
the listing broker?
A. The price the seller paid to purchase the property
B. A deflect existing in the property being offered
C. The sellers motivation for the sell
D. The lowest price the seller would accept
If two lots, each 75 feet wide by 105 feet long, cost $30,000 in total, what is their
approximate cost per square foot?
A. $1
B. $2
C. $3
D. $4
In order for a property manager to determine net operating income on a property,
which of the following fees is subtracted from the effective gross income?
A. Debt service
B. Advances to owners
C. Operating expenses
D. Reserve for replacements
c. Operating expenses
The potential gross monthly rent on an apartment building is $5,380. In July,
operating expenses were $3,500. A tenant whose monthly rent is $625 failed to
pay rent in July. If the property manager's commission is 6% of the rental income,
the manager's fee for July was:
A. $113
B. $210
C. $285
D. $323
, Which of the following types of legal descriptions identifies a property by
outlining its boundaries in terms of a series of directions and distances from a
specific point of origin?
A. Rectangular
B. Lot and block
C. Metes and bounds
D. Geodetic
A landlord enters into a lease with a tenant. The lease contains a provision
stating that, if the landlord decides to sell the property during the term of the
lease, the tenant will have the first right of refusal to purchase the property. Prior
to the tenant's lease expiration, the landlord would like to sell the property. The
landlord:
A. May sell the property to someone else without notice
B. May not sell the property to someone else
C. Must offer the tenting the first opportunity to purchase
D. Has no obligation to the tenant
C. must offer the tenant the first opportunity to purchase
If a prospective buyer is concerned about the electric service on a property, the
buyer's licensee SHOULD:
A. advise the buyer to hire inspectors to examine the property after the closing
B. recommend that the buyer insert an inspection contingency in the purchase
agreement
C. recommend a home warranty for the electric appliances
D. inspect the fuse box personally
B. recommend that the buyer insert an inspection contingency in the purchase
agreement
A property has an appraised value of $50,000. A loan is granted on the property
for 75% of its appraised value. The loan is spread over 25 years at an interest rate
of 3/4% per month. If the amount paid toward the principal is to remain constant
throughout the life of the loan, what is the FIRST monthly payment?
A. 125
B. 281
C. 406
D. 500
C. 406
In a condominium apartment project, the BEST term to describe swimming pools
and laundry rooms for the use of unit owners is:
A. Common elements
B. Limited common elements
C. Fee simple elements
D. Leasehold elements
common elements
Which of the following actions BEST describes proper supervision of a licensee
by their broker?
A. Requiring the licensee to pay quarterly taxes
B. Scheduling floor time only during regular office hours
Questions And Correct Answers.
If a licensee is paid a salary of $600 per month plus half of the office's 6% fee on
all sales, what MUST the licensee's monthly sales be in order for the licensee to
receive a total monthly income of $2,220?
A. 27,000
B. 37,000
C. 54,000
D. 74,000
An agreement that restricts the use and occupancy of real estate, is part of a
conveyance, and is binding on all subsequent buyers is called a(n):
A. Agreement for deed
B. Non conforming use
C. Documentary tax
D. Covenant
Which of the following items would have to be disclosed to prospective buyers by
the listing broker?
A. The price the seller paid to purchase the property
B. A deflect existing in the property being offered
C. The sellers motivation for the sell
D. The lowest price the seller would accept
If two lots, each 75 feet wide by 105 feet long, cost $30,000 in total, what is their
approximate cost per square foot?
A. $1
B. $2
C. $3
D. $4
In order for a property manager to determine net operating income on a property,
which of the following fees is subtracted from the effective gross income?
A. Debt service
B. Advances to owners
C. Operating expenses
D. Reserve for replacements
c. Operating expenses
The potential gross monthly rent on an apartment building is $5,380. In July,
operating expenses were $3,500. A tenant whose monthly rent is $625 failed to
pay rent in July. If the property manager's commission is 6% of the rental income,
the manager's fee for July was:
A. $113
B. $210
C. $285
D. $323
, Which of the following types of legal descriptions identifies a property by
outlining its boundaries in terms of a series of directions and distances from a
specific point of origin?
A. Rectangular
B. Lot and block
C. Metes and bounds
D. Geodetic
A landlord enters into a lease with a tenant. The lease contains a provision
stating that, if the landlord decides to sell the property during the term of the
lease, the tenant will have the first right of refusal to purchase the property. Prior
to the tenant's lease expiration, the landlord would like to sell the property. The
landlord:
A. May sell the property to someone else without notice
B. May not sell the property to someone else
C. Must offer the tenting the first opportunity to purchase
D. Has no obligation to the tenant
C. must offer the tenant the first opportunity to purchase
If a prospective buyer is concerned about the electric service on a property, the
buyer's licensee SHOULD:
A. advise the buyer to hire inspectors to examine the property after the closing
B. recommend that the buyer insert an inspection contingency in the purchase
agreement
C. recommend a home warranty for the electric appliances
D. inspect the fuse box personally
B. recommend that the buyer insert an inspection contingency in the purchase
agreement
A property has an appraised value of $50,000. A loan is granted on the property
for 75% of its appraised value. The loan is spread over 25 years at an interest rate
of 3/4% per month. If the amount paid toward the principal is to remain constant
throughout the life of the loan, what is the FIRST monthly payment?
A. 125
B. 281
C. 406
D. 500
C. 406
In a condominium apartment project, the BEST term to describe swimming pools
and laundry rooms for the use of unit owners is:
A. Common elements
B. Limited common elements
C. Fee simple elements
D. Leasehold elements
common elements
Which of the following actions BEST describes proper supervision of a licensee
by their broker?
A. Requiring the licensee to pay quarterly taxes
B. Scheduling floor time only during regular office hours
