Pearson vue real estate Exam, Multiple Choice Questions And Correct Answers.

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