STRINGHAM REAL ESTATE SCHOOL
SALES GENERAL EXAM - QUESTIONS
WITH ANSWERS VERIFIED 2025
A particular parcel was zoned residential, single family and was surrounded by others zoned the
same. That parcel was rezoned commercial so a convenience store could be built. This is an
example of:
a) Legal non-conforming use
b) Defeasible fee estate
c) Spot Zoning
d) Variance - CORRECT ANSWER>>>>c) Spot Zoning
Z listed the property. When the buyers expressed interest in seeing it, Z disclosed they would
have no representation and the buyers agreed in writing. When writing the offer, the buyers
asked Z what they should offer. Z responded, "Oh 93% of the listed price would be good."
Which most applies?
a) This would be a good suggestion for the agent to make.
b) This is ostensible agency between Z and the buyers
c) Z is properly representing the seller and obtaining an offer.
d) This is limited agency and legal. - CORRECT ANSWER>>>>b) This is ostensible agency
between Z and the buyers.
George smith who owns his property fee simple grants a three year lease to tom green during the
second year of the lease George sells the property to Ned Gray what happens to the lease when
the sale closes
a) property cannot be sold and title transferred to a new owner when a lease is in effect
b) it must be negotiated between gray and Mr Green the leasee
c)the lease remains in effect with Mr gray and Mr green
d) it terminates - CORRECT ANSWER>>>>c) The lease remains in effect with Mr. Gray and
Mr. Green
At the beginning of each month the lessee gives, and the lessor takes the rent. This best
describes:
a) Tenancy by the entirety
b) Periodic Tenancy
c) Joint Tenancy
d) Tenancy at will - CORRECT ANSWER>>>>b) Periodic Tenancy
What is the amount of pre-paid interest to the borrower if her $205,000 loan at 5.5% annual
interest rate closes on November 15?
a) $258.33
b) $939.58
c) $469.79
d) $370.00 - CORRECT ANSWER>>>>c) $469.79
,What term best describes a situation where the lessor collects rents from the tenants and pays
expenses out of those rents?
a) Net Lease
b) Participation Lease
c) License Estate
d) Gross Lease - CORRECT ANSWER>>>>d) Gross Lease
L agreed to carry a 2nd in the sale of the home. It was for $20,000, 9% interest, 30 years,
payment of $160.92 per month. However, it had a five year call when the buyer would pay off
the balance of $19,176. How would you describe this loan arrangement?
a) Fully amortized
b) Discounted
c) Wraparound
d) Partially amortized - CORRECT ANSWER>>>>d) Partially Amortized
An assessor is trying to determine the square footage of a property. He measures:
a) the outside dimensions.
b) the inside rooms including the closets.
c) inside, usable area.
d) the home, excluding hallways. - CORRECT ANSWER>>>>a) the outside dimensions
An agent contacted an owner to see if they might want to sell the property. The agent said, "I
think I can get you $250,000," which surprised the owner. The owner said, "Ok, and anything
over that can be your commission." This is:
a) A really good deal for the agent and the agent should jump on it!
b) Only legal if the agent ran comps and can justify the $250,000 number.
c) A perfectly good way for agents to market themselves and get listings.
d) Is a net listing and could be grounds for disciplinary action against the agent. - CORRECT
ANSWER>>>>d) Is a net listing and could be grounds for disciplinary action against the agent.
If the interest rate on a straight loan is 8% and the monthly interest payment is $650, what is the
amount of the loan?
a) $75,682
b) $103,250
c) $88,750
d) $97,500 - CORRECT ANSWER>>>>d) $97,500
Which of the following is NOT part of an appraisal?
a) The date of the appraisal report
b) Appraiser's best estimate value
c) A description of the neighborhood surrounding the property
d) The signature of the appraiser - CORRECT ANSWER>>>>
, The owner wants to net $40,000 upon selling the property. The commission is 7%, there will be
$2,500 in closing costs, plus a $450 fee to the attorney. What does the property need to sell for to
the the owner $40,000 net?
a) $215,716
b) $50,125.00
c) $200,555
d) $46,182.80 - CORRECT ANSWER>>>>d) $46,182.80
The relationship between the lessor and the lessee could be defined as which of the following?
a) Tenants in common
b) Tenancy for years
c) Joint Tenancy
d) Life Estate - CORRECT ANSWER>>>>b) Tenancy for years
The purpose of a document receipt is to verify that:
a) both the buyer and seller received all appropriate documents at the closing
b) The buyer signed all documents involved with the loan
c) All parties have received fully signed copies of the Real Estate Purchase Contract
d) All involved agents and brokers have signed the purchase agreement - CORRECT
ANSWER>>>>c) All parties have received fully signed copies of the Real Estate Purchase
Contract
Zachary received a warranty deed after purchasing a property. He saw that his name had been
misspelled. Which of the following documents would he execute to correct the title?
a) Special Warranty Deed
b) Quit Claim Deed
c) Bargain and Sale Deed
d) General Warranty Deed - CORRECT ANSWER>>>>b) Quit Claim Deed
After an offer to purchase real property has been signed and presented, how long does the offer-
or have to withdraw the offer?
a) Once the offer has been signed, it cannot be
withdrawn until the offeree accepts, rejects, counters
or the stated time period for acceptance has elapsed.
b) Twenty-four hours following presentation
c) Until the offer has been accepted
d) Three days following the presentation - CORRECT ANSWER>>>>c) Until the offer has
been accepted
The survey helps establish all of the following EXCEPT:
a) Property Condition
b) Easements in relation to all permanent structures
c) True property lines
d) Placement of structures, consistent with setback requirements and other restrictions -
CORRECT ANSWER>>>>a) Property Condition
SALES GENERAL EXAM - QUESTIONS
WITH ANSWERS VERIFIED 2025
A particular parcel was zoned residential, single family and was surrounded by others zoned the
same. That parcel was rezoned commercial so a convenience store could be built. This is an
example of:
a) Legal non-conforming use
b) Defeasible fee estate
c) Spot Zoning
d) Variance - CORRECT ANSWER>>>>c) Spot Zoning
Z listed the property. When the buyers expressed interest in seeing it, Z disclosed they would
have no representation and the buyers agreed in writing. When writing the offer, the buyers
asked Z what they should offer. Z responded, "Oh 93% of the listed price would be good."
Which most applies?
a) This would be a good suggestion for the agent to make.
b) This is ostensible agency between Z and the buyers
c) Z is properly representing the seller and obtaining an offer.
d) This is limited agency and legal. - CORRECT ANSWER>>>>b) This is ostensible agency
between Z and the buyers.
George smith who owns his property fee simple grants a three year lease to tom green during the
second year of the lease George sells the property to Ned Gray what happens to the lease when
the sale closes
a) property cannot be sold and title transferred to a new owner when a lease is in effect
b) it must be negotiated between gray and Mr Green the leasee
c)the lease remains in effect with Mr gray and Mr green
d) it terminates - CORRECT ANSWER>>>>c) The lease remains in effect with Mr. Gray and
Mr. Green
At the beginning of each month the lessee gives, and the lessor takes the rent. This best
describes:
a) Tenancy by the entirety
b) Periodic Tenancy
c) Joint Tenancy
d) Tenancy at will - CORRECT ANSWER>>>>b) Periodic Tenancy
What is the amount of pre-paid interest to the borrower if her $205,000 loan at 5.5% annual
interest rate closes on November 15?
a) $258.33
b) $939.58
c) $469.79
d) $370.00 - CORRECT ANSWER>>>>c) $469.79
,What term best describes a situation where the lessor collects rents from the tenants and pays
expenses out of those rents?
a) Net Lease
b) Participation Lease
c) License Estate
d) Gross Lease - CORRECT ANSWER>>>>d) Gross Lease
L agreed to carry a 2nd in the sale of the home. It was for $20,000, 9% interest, 30 years,
payment of $160.92 per month. However, it had a five year call when the buyer would pay off
the balance of $19,176. How would you describe this loan arrangement?
a) Fully amortized
b) Discounted
c) Wraparound
d) Partially amortized - CORRECT ANSWER>>>>d) Partially Amortized
An assessor is trying to determine the square footage of a property. He measures:
a) the outside dimensions.
b) the inside rooms including the closets.
c) inside, usable area.
d) the home, excluding hallways. - CORRECT ANSWER>>>>a) the outside dimensions
An agent contacted an owner to see if they might want to sell the property. The agent said, "I
think I can get you $250,000," which surprised the owner. The owner said, "Ok, and anything
over that can be your commission." This is:
a) A really good deal for the agent and the agent should jump on it!
b) Only legal if the agent ran comps and can justify the $250,000 number.
c) A perfectly good way for agents to market themselves and get listings.
d) Is a net listing and could be grounds for disciplinary action against the agent. - CORRECT
ANSWER>>>>d) Is a net listing and could be grounds for disciplinary action against the agent.
If the interest rate on a straight loan is 8% and the monthly interest payment is $650, what is the
amount of the loan?
a) $75,682
b) $103,250
c) $88,750
d) $97,500 - CORRECT ANSWER>>>>d) $97,500
Which of the following is NOT part of an appraisal?
a) The date of the appraisal report
b) Appraiser's best estimate value
c) A description of the neighborhood surrounding the property
d) The signature of the appraiser - CORRECT ANSWER>>>>
, The owner wants to net $40,000 upon selling the property. The commission is 7%, there will be
$2,500 in closing costs, plus a $450 fee to the attorney. What does the property need to sell for to
the the owner $40,000 net?
a) $215,716
b) $50,125.00
c) $200,555
d) $46,182.80 - CORRECT ANSWER>>>>d) $46,182.80
The relationship between the lessor and the lessee could be defined as which of the following?
a) Tenants in common
b) Tenancy for years
c) Joint Tenancy
d) Life Estate - CORRECT ANSWER>>>>b) Tenancy for years
The purpose of a document receipt is to verify that:
a) both the buyer and seller received all appropriate documents at the closing
b) The buyer signed all documents involved with the loan
c) All parties have received fully signed copies of the Real Estate Purchase Contract
d) All involved agents and brokers have signed the purchase agreement - CORRECT
ANSWER>>>>c) All parties have received fully signed copies of the Real Estate Purchase
Contract
Zachary received a warranty deed after purchasing a property. He saw that his name had been
misspelled. Which of the following documents would he execute to correct the title?
a) Special Warranty Deed
b) Quit Claim Deed
c) Bargain and Sale Deed
d) General Warranty Deed - CORRECT ANSWER>>>>b) Quit Claim Deed
After an offer to purchase real property has been signed and presented, how long does the offer-
or have to withdraw the offer?
a) Once the offer has been signed, it cannot be
withdrawn until the offeree accepts, rejects, counters
or the stated time period for acceptance has elapsed.
b) Twenty-four hours following presentation
c) Until the offer has been accepted
d) Three days following the presentation - CORRECT ANSWER>>>>c) Until the offer has
been accepted
The survey helps establish all of the following EXCEPT:
a) Property Condition
b) Easements in relation to all permanent structures
c) True property lines
d) Placement of structures, consistent with setback requirements and other restrictions -
CORRECT ANSWER>>>>a) Property Condition
