TREES EXAM PRACTICE QUESTIONS with verified
answers
"B" is selling her home to "K" The closing is to be held on July 24th. If
the annual real estate taxes of $1,296 were paid in advance by "B" for
the calendar year, what refund will she receive at closing?
A. $842
B. $562
C. $743
D. $454 Ans✓✓✓
"E" leases a house from "D". The toilet leaks and bathroom floor
becomes dangerously weak because of the rotted wood. "D" refuses to
repair the problem. "E" moves out. This is likely an example of
A. Constructive eviction
B. Constructive notice
C. Actual eviction
D. Destructive cause Ans✓✓✓
13 How many acre lots can be developed from a parcel of Jand that
measures 495' X1150' after 20% is decucted for streets, sidewalks etc.
а. 15 b. 31.36 с. 18 d. 31 Ans✓✓✓
29. A seller wants to realize a 30% profit over what he paid. He paid
$148,000. The broker is charging a 6% commission and the seller has
,closing costs of $$1,200. His selling price must be at least: a. $193,600
b. $205,531 c. $205,957 d. $192,400 Ans✓✓✓
63. Which of the following would LEAST likely be included in a warranty
deed? a. An expiration date b. A legal description c. The name of the
grantor d. The granting clause Ans✓✓✓
64. A sewer line would be an example of: a. Encroachment b. License с.
Easement appurtenant d. Easement in gross Ans✓✓✓
71. The word "value" may only be used by: a. A real estate broker b. An
affiliate broker with five years of experience с. A licensed appraiser d.
By a court of law Ans✓✓✓
85. A buyer borrows $80,000 at an interest rate of 10% and the
monthly payment is $702.06 what will the loan balance be after the
first monthly payment: a. $79,297.94 b. $79,333.33 c. $79,964.61 d.
$79,985.00 Ans✓✓✓
A broker sells some his land and agrees to provide owner financing. The
type of agency created would be: a. Transaction broker b. Owner/agent
с. c. Seller agency d. Agency coupled with an interest Ans✓✓✓
A buyer makes an offer of$110,000 on a property that the seller
accepts. The buyer asks the seller to pay $1,500 of the buyers closing
costs. The buyer is going to receive a 90% loan, has closing costs of
,$1.700 and has given the broker a $1,000 check for earnest money.
How much will the buyer have to bring to closing? a. S10,200 b.
$106,800 c. $11,200 d. $112,000 Ans✓✓✓
A buyer who is prepared to buy on the seller's terms and is ready to
take positive steps toward the consummation of the transaction is
A. A positive buyer
B. Excited about buying a new home
C. Ready to get things started
D. A ready, willing, and able buyer Ans✓✓✓ D. A ready, willing, and
able buyer
A buyer's agent should provide which level of service to his/her
principal?
A. Client level
B. Customer level
C. Broker level
D. Agent level Ans✓✓✓ A. Client level
A buyer's broker would not perform which of the following in a sales
negotiation?
A. Negotiate a large amount of earnest money
B. Negotiate the lowest possible sales price
C. Seek contingencies favorable to the buyer
, D. Ask for an outside inspection Ans✓✓✓ A. Negotiate a large amount
of earnest money
A closing date: a. Must be included in a contract b. May be omitted
under certain conditions c. Is set by the closing agent d. Is set by the
listing broker Ans✓✓✓
A competitive market analysis (CMA) would include which of the
following: a. Recently sold properties b. Expired listings с. Properties
presently for sale d. All the above Ans✓✓✓
A corporate officer can contract for corporate assets by virtue of a
A. Power of Attorney
B. Codicil
C. Partnership agreement
D. Corporate Resolution Ans✓✓✓ D. Corporate Resolution
A couple in Sunny Oaks subdivision have found a buried leaking oil tank
on their property. The leak has caused extensive damage to other areas
in the subdivision. They may be held liable for damages as potentially
responsible parties (PRPs) based on
A. RESPA
B. AARP
C. GMAC
answers
"B" is selling her home to "K" The closing is to be held on July 24th. If
the annual real estate taxes of $1,296 were paid in advance by "B" for
the calendar year, what refund will she receive at closing?
A. $842
B. $562
C. $743
D. $454 Ans✓✓✓
"E" leases a house from "D". The toilet leaks and bathroom floor
becomes dangerously weak because of the rotted wood. "D" refuses to
repair the problem. "E" moves out. This is likely an example of
A. Constructive eviction
B. Constructive notice
C. Actual eviction
D. Destructive cause Ans✓✓✓
13 How many acre lots can be developed from a parcel of Jand that
measures 495' X1150' after 20% is decucted for streets, sidewalks etc.
а. 15 b. 31.36 с. 18 d. 31 Ans✓✓✓
29. A seller wants to realize a 30% profit over what he paid. He paid
$148,000. The broker is charging a 6% commission and the seller has
,closing costs of $$1,200. His selling price must be at least: a. $193,600
b. $205,531 c. $205,957 d. $192,400 Ans✓✓✓
63. Which of the following would LEAST likely be included in a warranty
deed? a. An expiration date b. A legal description c. The name of the
grantor d. The granting clause Ans✓✓✓
64. A sewer line would be an example of: a. Encroachment b. License с.
Easement appurtenant d. Easement in gross Ans✓✓✓
71. The word "value" may only be used by: a. A real estate broker b. An
affiliate broker with five years of experience с. A licensed appraiser d.
By a court of law Ans✓✓✓
85. A buyer borrows $80,000 at an interest rate of 10% and the
monthly payment is $702.06 what will the loan balance be after the
first monthly payment: a. $79,297.94 b. $79,333.33 c. $79,964.61 d.
$79,985.00 Ans✓✓✓
A broker sells some his land and agrees to provide owner financing. The
type of agency created would be: a. Transaction broker b. Owner/agent
с. c. Seller agency d. Agency coupled with an interest Ans✓✓✓
A buyer makes an offer of$110,000 on a property that the seller
accepts. The buyer asks the seller to pay $1,500 of the buyers closing
costs. The buyer is going to receive a 90% loan, has closing costs of
,$1.700 and has given the broker a $1,000 check for earnest money.
How much will the buyer have to bring to closing? a. S10,200 b.
$106,800 c. $11,200 d. $112,000 Ans✓✓✓
A buyer who is prepared to buy on the seller's terms and is ready to
take positive steps toward the consummation of the transaction is
A. A positive buyer
B. Excited about buying a new home
C. Ready to get things started
D. A ready, willing, and able buyer Ans✓✓✓ D. A ready, willing, and
able buyer
A buyer's agent should provide which level of service to his/her
principal?
A. Client level
B. Customer level
C. Broker level
D. Agent level Ans✓✓✓ A. Client level
A buyer's broker would not perform which of the following in a sales
negotiation?
A. Negotiate a large amount of earnest money
B. Negotiate the lowest possible sales price
C. Seek contingencies favorable to the buyer
, D. Ask for an outside inspection Ans✓✓✓ A. Negotiate a large amount
of earnest money
A closing date: a. Must be included in a contract b. May be omitted
under certain conditions c. Is set by the closing agent d. Is set by the
listing broker Ans✓✓✓
A competitive market analysis (CMA) would include which of the
following: a. Recently sold properties b. Expired listings с. Properties
presently for sale d. All the above Ans✓✓✓
A corporate officer can contract for corporate assets by virtue of a
A. Power of Attorney
B. Codicil
C. Partnership agreement
D. Corporate Resolution Ans✓✓✓ D. Corporate Resolution
A couple in Sunny Oaks subdivision have found a buried leaking oil tank
on their property. The leak has caused extensive damage to other areas
in the subdivision. They may be held liable for damages as potentially
responsible parties (PRPs) based on
A. RESPA
B. AARP
C. GMAC
