AYPO Real Estate Principles of Real Estate II Exam Study Guide with Complete Solutions

AYPO Real Estate Principles of Real Estate II Exam Study Guide with Complete Solutions If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) - answer270 square feet An applicant is allowed to use what electronic devices during the real estate exam? - answerHand-held calculator Convert the following fraction to a decimal for ease of computation: 31/25 - answer1.24 What is the general formula to determine Capital Gain? - answerProfit from Sale - Base Value = Capital Gain A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the first year?(Interest Rate = Interest / Principle) - answer$58,800 A property owner has a 20-year mortgage that is worth $97,500 with a 7.5% annual interest rate. What does the property owner pay in mortgage payments every month? - answer$784.87 What is the basic formula for determining the proration of fees? - answerTax or Fee Rate x Remaining Days or Months = Tax or Fee Owed A house has 3 distinct rectangular shapes: A=20'x30' B=10'x10' C=75'x50' What is the square footage total? - answer4450 ft2 How many hours must an applicant provide that are acceptable and verifiable appraisal experience acquired over a minimum of 12 months? - answer1,500 hours What is functional obsolescence? - answerThe loss of property value due to qualities of the property that cannot be easily changed What is the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably? - answerMarket value Which of the following objective value means the value of a piece of property will rise or fall because of a future benefit or a future complication? - answerAnticipation Replacement cost, or the dollar amount it would cost to construct at current prices a structure that is not exactly the same is in which type of appraisal? - answerCost approach. A CMA is what? - answerComparative Market Analysis What are fees paid to the lender to compensate the loan company or bank for evaluating, processing, and approving a mortgage? - answerOrigination