REAL ESTATE MULTIPLE CHOICE QUESTIONS WITH
100% GUARANTEED ANSWERS
1. A property owner wants to add a sunroom to her home. The sunroom addition would violate the
required setbacks. What does a property owner need to build the sunroom?
A. A permitted to use permit
B. Permission to build a non-conforming structure
C. A variance
D. Spot zoning
C. A variance
2. After receiving condominium documents how many business days does a buyer have to resend an
offer?
A. Five business days
B. 10 business days
C. 15 business days
D. 20 business days
A. 5 business days
3. A concept and housing design that allows for high density dwellings and a maximum use of open
space to create park and recreation space is known as a?
A. Condominium
B. Cooperative
C. Housing development
D. Planned unit development
D. Planned unit development
,4. When performing a market analysis, a licensee compares a properties amenity to?
A. To allow for depreciation
B. Because no two properties are the same
C. To obtain assessed value
D. To reflect changes in the marketplace
B. Because no two properties are the same
5. A real estate licensee will most likely determine:
A. Market value
B. Appraised value
C. Assessed value
D. Sales price
A. Market value
6. The principle of value most heavily relied upon for the determination of market value an existing
residential property is:
A. Regression
B. Substitution
C. Contribution
D. Change
B. Substitution
7. When entering a WB - 36 buyer agency/tenant representation agreement:
A. A licensee must give agency disclosure
B. The buyer must use a separate form if the buyer selects multiple representation
C. The buyer must agree to multiple representation
D. Agency disclosure is not required because the agent will be representing the buyer
A. A licensee must give agency disclosure
, 8. A borrower has obtained alone amortized over 30 years, but the borrower needs to pay it off in five
years. This is most likely:
An adjustable rate loan
B. A fixed rate loan
C. A balloon loan
D. A land contract
C. A balloon loan
9. A borrower is obtaining a conventional loan for 95% of the purchase price. Because of the 5% down
payment, the buyer must pay which of the following at closing:
A. Private mortgage insurance
B. Discount points
C. Origination fees
D. Appraisal fees
A. Private mortgage insurance
10. Which of the following is prohibited under the real estate settlement procedures act?
A. A lender refuse to issue a loan based upon a person’s religion
B. A licensee received a fee from a lender for the referral of a client
C. A creditor stated the required down payment in an advertisement but neglected to disclose other
loan terms
D. A lender originated alone without disclosing to the borrower the total finance charges, the annual
percentage rate, the total amount financed and the total payment that will be made
B. A licensee received a fee from a lender for the referral of a client
100% GUARANTEED ANSWERS
1. A property owner wants to add a sunroom to her home. The sunroom addition would violate the
required setbacks. What does a property owner need to build the sunroom?
A. A permitted to use permit
B. Permission to build a non-conforming structure
C. A variance
D. Spot zoning
C. A variance
2. After receiving condominium documents how many business days does a buyer have to resend an
offer?
A. Five business days
B. 10 business days
C. 15 business days
D. 20 business days
A. 5 business days
3. A concept and housing design that allows for high density dwellings and a maximum use of open
space to create park and recreation space is known as a?
A. Condominium
B. Cooperative
C. Housing development
D. Planned unit development
D. Planned unit development
,4. When performing a market analysis, a licensee compares a properties amenity to?
A. To allow for depreciation
B. Because no two properties are the same
C. To obtain assessed value
D. To reflect changes in the marketplace
B. Because no two properties are the same
5. A real estate licensee will most likely determine:
A. Market value
B. Appraised value
C. Assessed value
D. Sales price
A. Market value
6. The principle of value most heavily relied upon for the determination of market value an existing
residential property is:
A. Regression
B. Substitution
C. Contribution
D. Change
B. Substitution
7. When entering a WB - 36 buyer agency/tenant representation agreement:
A. A licensee must give agency disclosure
B. The buyer must use a separate form if the buyer selects multiple representation
C. The buyer must agree to multiple representation
D. Agency disclosure is not required because the agent will be representing the buyer
A. A licensee must give agency disclosure
, 8. A borrower has obtained alone amortized over 30 years, but the borrower needs to pay it off in five
years. This is most likely:
An adjustable rate loan
B. A fixed rate loan
C. A balloon loan
D. A land contract
C. A balloon loan
9. A borrower is obtaining a conventional loan for 95% of the purchase price. Because of the 5% down
payment, the buyer must pay which of the following at closing:
A. Private mortgage insurance
B. Discount points
C. Origination fees
D. Appraisal fees
A. Private mortgage insurance
10. Which of the following is prohibited under the real estate settlement procedures act?
A. A lender refuse to issue a loan based upon a person’s religion
B. A licensee received a fee from a lender for the referral of a client
C. A creditor stated the required down payment in an advertisement but neglected to disclose other
loan terms
D. A lender originated alone without disclosing to the borrower the total finance charges, the annual
percentage rate, the total amount financed and the total payment that will be made
B. A licensee received a fee from a lender for the referral of a client
