©FYNDLAY EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Course Final Exam Questions And Answers
(Guaranteed A+)
Minimizing risk in part means avoiding public networks, unsecure sites, and ______ sites. -
answer✔Suspicious
A buyer with a 15-year, $250,000 loan at a 5.5% interest rate has a monthly principal and
interest payment totaling $2,042.71. If $1,145.83 is interest, how much is applied to principal? -
answer✔$896.88
Adam owes $125,000 on his home. It's currently worth $340,000. How much equity does Adam
have in his home? - answer✔$215,000
James is obtaining an 80/20 loan. What does 80/20 signify? - answer✔Amount financed/Down
payment
With which type of government power can a lien be placed on a property, giving the
government a claim to the property? - answer✔Taxation is a government power that, if unpaid,
allows the government to place a lien on the property.
Cameron had a listing agreement with a client named Ben. Ben got mad at Cameron and said he
was terminating the agreement. Can Ben do this? - answer✔Yes, but certain terms of the
agreement may still be binding upon Ben.
When may informed consent for dual agency be obtained? - answer✔Before the fact, or as the
situation arises
As an agent, you owe fiduciary duties to your client. Among these are loyalty, reasonable skill
and care, confidentiality, accounting, and disclosure. What fiduciary duty is missing from this
list? - answer✔Obedience
Which of the following is an example of the duty of obedience? - answer✔Carrying out a client's
instructions
Roger just discovered that his loan includes a hidden balloon payment, so now he must
________. - answer✔Make one large final payment to pay off the principal
Why do licensees help buyers estimate closing costs? - answer✔Doing so helps buyers
determine the affordability of purchasing a home.
1|Page
, ©FYNDLAY EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Which of the following is true about title to a property? - answer✔Constructive notice to the
public of interest in a parcel of real estate occurs when the deed is recorded and physical
possession of the property is taken.
Which law requires the EPA to establish air quality standards? - answer✔The Clean Air Act of
1970
Amy is about to complete her very first sales contract. What should she do to prepare? -
answer✔Review the contract and make sure she understands each section's purpose.
Which term refers to a permitted deviation from current zoning restrictions that allows an
owner to use land for a purpose that's otherwise prohibited, and requires the owner to prove
the zoning creates an unnecessary hardship? - answer✔Use variance
Which choice correctly identifies the seven protected classes according to the Fair Housing Act?
- answer✔Race, color, national origin, religion, sex, familial status, and disability
What may be found in paint in homes built before 1978? - answer✔Lead
Risks to computer systems can be reduced by avoiding public networks, ______ sites, and
suspicious sites. - answer✔Unsecure
_______ can be defined as everything that's not real property. - answer✔Personal property
Jay's new loan to purchase a property includes the seller's existing mortgage. What type of loan
is this? - answer✔Wraparound
When considering buying property subject to an existing lease, it's critical to understand the
lease terms, including the lease duration, rent amount, renewal/purchase options, and the
__________________. - answer✔Property Mgmt responsibilites
A clause that allows the parties to agree that they won't litigate if there are any contract
disputes is a/n _________. - answer✔Arbitration clause
Which entity guarantees loans? - answer✔U.S. Department of Veterans Affairs
Kris made an offer on Lincoln's townhouse. However, Kris offered no earnest money. If Lincoln
accepted her offer, would it be binding? - answer✔Yes, because the offer to buy is the
consideration.
The power of the state to claim property when the owner dies without a will and without
locatable heirs or creditors is also known as ______. - answer✔Escheat
Which of the following provides everything a lender needs to know in order to value the
property used as collateral for a loan? - answer✔Appraisal
Which laws does the Office of Fair Housing and Equal Opportunity uphold? - answer✔Federal
fair housing laws
2|Page
ALL RIGHTS RESERVED.
Course Final Exam Questions And Answers
(Guaranteed A+)
Minimizing risk in part means avoiding public networks, unsecure sites, and ______ sites. -
answer✔Suspicious
A buyer with a 15-year, $250,000 loan at a 5.5% interest rate has a monthly principal and
interest payment totaling $2,042.71. If $1,145.83 is interest, how much is applied to principal? -
answer✔$896.88
Adam owes $125,000 on his home. It's currently worth $340,000. How much equity does Adam
have in his home? - answer✔$215,000
James is obtaining an 80/20 loan. What does 80/20 signify? - answer✔Amount financed/Down
payment
With which type of government power can a lien be placed on a property, giving the
government a claim to the property? - answer✔Taxation is a government power that, if unpaid,
allows the government to place a lien on the property.
Cameron had a listing agreement with a client named Ben. Ben got mad at Cameron and said he
was terminating the agreement. Can Ben do this? - answer✔Yes, but certain terms of the
agreement may still be binding upon Ben.
When may informed consent for dual agency be obtained? - answer✔Before the fact, or as the
situation arises
As an agent, you owe fiduciary duties to your client. Among these are loyalty, reasonable skill
and care, confidentiality, accounting, and disclosure. What fiduciary duty is missing from this
list? - answer✔Obedience
Which of the following is an example of the duty of obedience? - answer✔Carrying out a client's
instructions
Roger just discovered that his loan includes a hidden balloon payment, so now he must
________. - answer✔Make one large final payment to pay off the principal
Why do licensees help buyers estimate closing costs? - answer✔Doing so helps buyers
determine the affordability of purchasing a home.
1|Page
, ©FYNDLAY EXAM SOLUTIONS 2024/2025
ALL RIGHTS RESERVED.
Which of the following is true about title to a property? - answer✔Constructive notice to the
public of interest in a parcel of real estate occurs when the deed is recorded and physical
possession of the property is taken.
Which law requires the EPA to establish air quality standards? - answer✔The Clean Air Act of
1970
Amy is about to complete her very first sales contract. What should she do to prepare? -
answer✔Review the contract and make sure she understands each section's purpose.
Which term refers to a permitted deviation from current zoning restrictions that allows an
owner to use land for a purpose that's otherwise prohibited, and requires the owner to prove
the zoning creates an unnecessary hardship? - answer✔Use variance
Which choice correctly identifies the seven protected classes according to the Fair Housing Act?
- answer✔Race, color, national origin, religion, sex, familial status, and disability
What may be found in paint in homes built before 1978? - answer✔Lead
Risks to computer systems can be reduced by avoiding public networks, ______ sites, and
suspicious sites. - answer✔Unsecure
_______ can be defined as everything that's not real property. - answer✔Personal property
Jay's new loan to purchase a property includes the seller's existing mortgage. What type of loan
is this? - answer✔Wraparound
When considering buying property subject to an existing lease, it's critical to understand the
lease terms, including the lease duration, rent amount, renewal/purchase options, and the
__________________. - answer✔Property Mgmt responsibilites
A clause that allows the parties to agree that they won't litigate if there are any contract
disputes is a/n _________. - answer✔Arbitration clause
Which entity guarantees loans? - answer✔U.S. Department of Veterans Affairs
Kris made an offer on Lincoln's townhouse. However, Kris offered no earnest money. If Lincoln
accepted her offer, would it be binding? - answer✔Yes, because the offer to buy is the
consideration.
The power of the state to claim property when the owner dies without a will and without
locatable heirs or creditors is also known as ______. - answer✔Escheat
Which of the following provides everything a lender needs to know in order to value the
property used as collateral for a loan? - answer✔Appraisal
Which laws does the Office of Fair Housing and Equal Opportunity uphold? - answer✔Federal
fair housing laws
2|Page
