1 Exampromax - Stuvia US 2025/2026
Aceable Agent Principles of Real Estate 2
Practice Test Questions and Answers (100%
Correct Answers) Already Graded A+
What is investment gain?
Ans: an increase in property value due to active and purposeful developments or
improvements
Ben has recently purchased a policy for title insurance. Two weeks after
making his purchase, it is revealed that there were unknown liens attached
to the title. What is TRUE of this situation?
© 2025 Assignment Expert
Ans: Any problems that arise after policy purchase are not covered.
Exampromax - Stuvia US
Which of the following is an example of something that would be listed on
a Closing Disclosure as a credit to the buyer?
Ans: A credit is an amount a person receives at closing.
Gladys owns two properties: one is a residential property and the other is a
plot of undeveloped land. Which of the following is TRUE about Gladys'
properties?
Ans: She CAN claim depreciation on her residential property; she can NOT
claim depreciation on her undeveloped land.
Landlords MUST allow tenants with disabilities to make reasonable
modifications to a property so they can enjoy it. But there are also
unreasonable modifications a landlord does NOT have to allow; all of the
following are unreasonable modifications EXCEPT:
Ans: modifications made at the tenant's expense
What does "REO" stand for?
Ans: "Real Estate Owned"
In which of the following cases would a property manager NOT need a real
estate license?
, 2 Exampromax - Stuvia US 2025/2026
Ans: A property manager who is an on-site apartment manager NOT acting as an
agent, leasing the owner's real estate.
What is a fee simple subject to a condition subsequent estate?
Ans: an estate in which the property MUST be used for a specific purpose and if
it's not, the real estate reverts back to the original owner
Which of the following is NOT a principle of appraisal?
Ans: While appraisers do concern themselves with the highest and best use of a
property, "principle of best use" is not among the principles.
Lara has her first investor client. She can expect her investor client to do all
of the following EXCEPT:
© 2025 Assignment Expert
Ans: Her investor client may require Lara to conduct the majority of the activity
Exampromax - Stuvia US
on the selling side of the transaction.
Michelle is purchasing a condo uptown. She received a loan of $145,000 for
the condo, which leverages 67% of the financing. What is the amount of the
down payment Michelle will be making?
Ans: The sale price is $216,417.91 (loan amount divided by percentage), minus
the loan amount ($145,000) makes the down payment $71,417.91.
Ben would like to construct a restaurant on a parcel of land. This particular
parcel is not zoned for a commercial use. Ben should go to the city and seek
a(n):
Ans: Ben should go to the city and seek a use variance.
James owns several properties that are close to a state park. In marketing
these properties, he denotes that the properties have easy access to the park,
but he does NOT describe the type of buyer this feature might appeal to, i.e.
"outdoorsy people," etc. What activity is James avoiding?
Ans: illegal target marketing
Maria pays off her loan in equal installments of principal and interest over
a period of ten years. What can we call this method of payment?
Ans: amortization
Aceable Agent Principles of Real Estate 2
Practice Test Questions and Answers (100%
Correct Answers) Already Graded A+
What is investment gain?
Ans: an increase in property value due to active and purposeful developments or
improvements
Ben has recently purchased a policy for title insurance. Two weeks after
making his purchase, it is revealed that there were unknown liens attached
to the title. What is TRUE of this situation?
© 2025 Assignment Expert
Ans: Any problems that arise after policy purchase are not covered.
Exampromax - Stuvia US
Which of the following is an example of something that would be listed on
a Closing Disclosure as a credit to the buyer?
Ans: A credit is an amount a person receives at closing.
Gladys owns two properties: one is a residential property and the other is a
plot of undeveloped land. Which of the following is TRUE about Gladys'
properties?
Ans: She CAN claim depreciation on her residential property; she can NOT
claim depreciation on her undeveloped land.
Landlords MUST allow tenants with disabilities to make reasonable
modifications to a property so they can enjoy it. But there are also
unreasonable modifications a landlord does NOT have to allow; all of the
following are unreasonable modifications EXCEPT:
Ans: modifications made at the tenant's expense
What does "REO" stand for?
Ans: "Real Estate Owned"
In which of the following cases would a property manager NOT need a real
estate license?
, 2 Exampromax - Stuvia US 2025/2026
Ans: A property manager who is an on-site apartment manager NOT acting as an
agent, leasing the owner's real estate.
What is a fee simple subject to a condition subsequent estate?
Ans: an estate in which the property MUST be used for a specific purpose and if
it's not, the real estate reverts back to the original owner
Which of the following is NOT a principle of appraisal?
Ans: While appraisers do concern themselves with the highest and best use of a
property, "principle of best use" is not among the principles.
Lara has her first investor client. She can expect her investor client to do all
of the following EXCEPT:
© 2025 Assignment Expert
Ans: Her investor client may require Lara to conduct the majority of the activity
Exampromax - Stuvia US
on the selling side of the transaction.
Michelle is purchasing a condo uptown. She received a loan of $145,000 for
the condo, which leverages 67% of the financing. What is the amount of the
down payment Michelle will be making?
Ans: The sale price is $216,417.91 (loan amount divided by percentage), minus
the loan amount ($145,000) makes the down payment $71,417.91.
Ben would like to construct a restaurant on a parcel of land. This particular
parcel is not zoned for a commercial use. Ben should go to the city and seek
a(n):
Ans: Ben should go to the city and seek a use variance.
James owns several properties that are close to a state park. In marketing
these properties, he denotes that the properties have easy access to the park,
but he does NOT describe the type of buyer this feature might appeal to, i.e.
"outdoorsy people," etc. What activity is James avoiding?
Ans: illegal target marketing
Maria pays off her loan in equal installments of principal and interest over
a period of ten years. What can we call this method of payment?
Ans: amortization
