Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
What type of professional must an investor use to conduct a tax-deferred
exchange? - ANSWER--A qualified intermediary
Which form is used by the borrower when shopping for a loan? - ANSWER--Loan
Estimate
If you suspect there might be an environmental issue with a property you're selling,
but you're not sure, what should you do? - ANSWER--Ask a lot of questions, ask
for help, and disclose everything if issues do exist.
What will be of the highest concern to a fix-and-flip investor once the property is
rehabbed? - ANSWER--Making a profit quickly to start a new project
Which of these terms can be defined as what a buyer has paid for a property and
what the seller has accepted? - ANSWER--Price
Augustine wants to move to a different area of town. He doesn't have a car; he
prefers to walk or take public transportation everywhere. He's looking for housing
near the subway. Communities designed and developed around access to public
transportation are known as what? - ANSWER--TOD
A 20-unit apartment building sells for $5 million. The property can bring in
$400,000 in annual gross income. What is the gross income multiplier (GIM)? -
ANSWER--12.5
,Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
FACTA requires anyone with access to consumers' credit reports to ______. -
ANSWER--Comply with the records disposal rule
Which of the following is an example of a prime lender, as compared to a
subprime lender? - ANSWER--Offers lower fees
A licensee must understand risks and provide disclosure of known environmental
issues. A licensee must also do which of the following? - ANSWER--Know when
to ask questions.
In addition to the property address, the lease agreement start and end dates, and the
monthly rent and deposit amounts, which of the following pieces of information
should all commercial leases contain? - ANSWER--The purpose for which the
space is being rented
Marsha made an offer of $325,000 on a home listed for $350,000. The seller
accepted her offer. She's now having a(n) ______ done on the home to determine
its actual value and hopes it comes in at more than $350,000. - ANSWER--
Appraisal by an appraiser
What is business risk? - ANSWER--The risk that the required return on investor
capital will not be met
Your seller wants to net $100,000 after the 5% commission is paid. Assuming no
closing costs, at what price does the home need to sell for the seller to net this
amount? - ANSWER--$105,263.16
,Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
If the daily rate is $1.23 and closing is August 31, what will the seller owe at
closing? Assume a statutory year and that the seller hasn't made any payments.
Round to the nearest cent. - ANSWER--$295.20
Which type of closing is conducted with a neutral third party holding the funds,
and the buyer and seller may never meet? - ANSWER--Escrow closing
Which of the following numbers represents a calculator with the appropriate
decimal place set up to eliminate most rounding errors? - ANSWER--10.56789
Which one of the following responsibilities requires the licensee to secure a
profitable deal for the landlord that is also affordable for the commercial tenant? -
ANSWER--Negotiate leases.
FTC privacy rules state that a landlord or property manager doesn't have to obtain
a tenant's written consent before sharing the tenant's information with ______. -
ANSWER--A police officer
What are accrued expense items? - ANSWER--Items to be divided proportionately
between the buyer and seller that the seller owes
Another term for a valuation is ______. - ANSWER--Formal appraisal
Brandy is going to purchase a strip mall. She is trying to determine exactly how
much to borrow for this purchase. She understands that the more she borrows, the
greater her risk. What type of risk is she evaluating? - ANSWER--Financial risk
, Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
Which of the following is true about ownership or title to a property? - ANSWER--
Constructive notice to the public of real property ownership occurs when the deed
is recorded.
A property generates $30,000 in net operating income and has a 15% cap rate.
Using the income approach, what is its value? - ANSWER--$200,000
What is 1/4 x 2/3? - ANSWER--1/6
What type of capital gains may property owners encounter? - ANSWER--Short-
and long-term
Before moving out, Texas tenant Adam failed to give sufficient notice to his
landlady, Yolanda. Yolanda is so happy the lease agreement included that
provision in bold type about tenants who fail to give sufficient notice and what that
means with regard to the security deposit. Given the situation, which of the
following statements is true? - ANSWER--Yolanda does not have to refund any of
Adam's security deposit.
What is the best description of a deed? - ANSWER--A document to transfer
ownership/interest in real estate
Kayla purchased a home in January, fixed it up, and then sold the property in May
of the same year for a gain of $45,000. What type of capital gain is this? -
ANSWER--Short-term
Jeff has filed a quiet title suit against Roger. What's the purpose of this suit? -
ANSWER--To clear up a cloud on title
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
What type of professional must an investor use to conduct a tax-deferred
exchange? - ANSWER--A qualified intermediary
Which form is used by the borrower when shopping for a loan? - ANSWER--Loan
Estimate
If you suspect there might be an environmental issue with a property you're selling,
but you're not sure, what should you do? - ANSWER--Ask a lot of questions, ask
for help, and disclose everything if issues do exist.
What will be of the highest concern to a fix-and-flip investor once the property is
rehabbed? - ANSWER--Making a profit quickly to start a new project
Which of these terms can be defined as what a buyer has paid for a property and
what the seller has accepted? - ANSWER--Price
Augustine wants to move to a different area of town. He doesn't have a car; he
prefers to walk or take public transportation everywhere. He's looking for housing
near the subway. Communities designed and developed around access to public
transportation are known as what? - ANSWER--TOD
A 20-unit apartment building sells for $5 million. The property can bring in
$400,000 in annual gross income. What is the gross income multiplier (GIM)? -
ANSWER--12.5
,Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
FACTA requires anyone with access to consumers' credit reports to ______. -
ANSWER--Comply with the records disposal rule
Which of the following is an example of a prime lender, as compared to a
subprime lender? - ANSWER--Offers lower fees
A licensee must understand risks and provide disclosure of known environmental
issues. A licensee must also do which of the following? - ANSWER--Know when
to ask questions.
In addition to the property address, the lease agreement start and end dates, and the
monthly rent and deposit amounts, which of the following pieces of information
should all commercial leases contain? - ANSWER--The purpose for which the
space is being rented
Marsha made an offer of $325,000 on a home listed for $350,000. The seller
accepted her offer. She's now having a(n) ______ done on the home to determine
its actual value and hopes it comes in at more than $350,000. - ANSWER--
Appraisal by an appraiser
What is business risk? - ANSWER--The risk that the required return on investor
capital will not be met
Your seller wants to net $100,000 after the 5% commission is paid. Assuming no
closing costs, at what price does the home need to sell for the seller to net this
amount? - ANSWER--$105,263.16
,Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
If the daily rate is $1.23 and closing is August 31, what will the seller owe at
closing? Assume a statutory year and that the seller hasn't made any payments.
Round to the nearest cent. - ANSWER--$295.20
Which type of closing is conducted with a neutral third party holding the funds,
and the buyer and seller may never meet? - ANSWER--Escrow closing
Which of the following numbers represents a calculator with the appropriate
decimal place set up to eliminate most rounding errors? - ANSWER--10.56789
Which one of the following responsibilities requires the licensee to secure a
profitable deal for the landlord that is also affordable for the commercial tenant? -
ANSWER--Negotiate leases.
FTC privacy rules state that a landlord or property manager doesn't have to obtain
a tenant's written consent before sharing the tenant's information with ______. -
ANSWER--A police officer
What are accrued expense items? - ANSWER--Items to be divided proportionately
between the buyer and seller that the seller owes
Another term for a valuation is ______. - ANSWER--Formal appraisal
Brandy is going to purchase a strip mall. She is trying to determine exactly how
much to borrow for this purchase. She understands that the more she borrows, the
greater her risk. What type of risk is she evaluating? - ANSWER--Financial risk
, Texas Principles of Real Estate II Final Exam Actual Exam
300 Questions and Answers | Verified Answers |
Graded A+ Latest Version (Just Released)2024
Which of the following is true about ownership or title to a property? - ANSWER--
Constructive notice to the public of real property ownership occurs when the deed
is recorded.
A property generates $30,000 in net operating income and has a 15% cap rate.
Using the income approach, what is its value? - ANSWER--$200,000
What is 1/4 x 2/3? - ANSWER--1/6
What type of capital gains may property owners encounter? - ANSWER--Short-
and long-term
Before moving out, Texas tenant Adam failed to give sufficient notice to his
landlady, Yolanda. Yolanda is so happy the lease agreement included that
provision in bold type about tenants who fail to give sufficient notice and what that
means with regard to the security deposit. Given the situation, which of the
following statements is true? - ANSWER--Yolanda does not have to refund any of
Adam's security deposit.
What is the best description of a deed? - ANSWER--A document to transfer
ownership/interest in real estate
Kayla purchased a home in January, fixed it up, and then sold the property in May
of the same year for a gain of $45,000. What type of capital gain is this? -
ANSWER--Short-term
Jeff has filed a quiet title suit against Roger. What's the purpose of this suit? -
ANSWER--To clear up a cloud on title
