Barney Fletcher Exam questions (2025) ACTUAL
EXAM (TESTING REAL EXAM QUESTIONS) AND
VERIFIED ANSWERS (MULTIPLE CHOICES) |COMPLETE
SOLUTIONS |A+ GRADED |100% CORRECT!!
In doing a market analysis, you find a recently sold property where the owners
had just gone through a divorce. It was listed for $60,000 for 3 months but sold
for $40,000. Would you use this as a comparable?
A. no, because it had only been listed for 3 months
B. no, because of the divorce, it was not an arms length agreement
C. yes, you would use the actual sales price of $40,000
D. yes, because it was a comparable type property - (ANSWER)B. no, because of
the divorce, it was not an arms length agreement
A property was worth $289,000 if capitalized at 4%. What is it worth if it
capitalized at 5%?
A. $185,000
B. $231,200
C. $300,000
D. $325,000 - (ANSWER)B. $231,200
$289,000 x 4% = $11,560 divided by 5% = $231,200
,An heirloom chandelier in a house would be considered:
A. chattel
B. personal property
C. a fixture
D. a trade fixture - (ANSWER)C. a fixture
An owner of a life estate died and the land passed to the remainderman. What
interest would the remainderman receive?
A. estate in reversion
B. life estate
C. estate at will
D. estate in fee simple - (ANSWER)D. estate in fee simple
Which of the following BEST describes the extent of an owner's rights in land?
A. the surface of the land only
B. the land and five miles below certain mineral rights
C. the surface of the land up to infinity
D. the land from the center of the earth up to infinity - (ANSWER)D. the land from
the center of the earth up to infinity
, Which of the following does NOT make loans?
A. the secondary mortgage market
B. the federal reserve
C. savings and loans
D. commercial banks - (ANSWER)A. the secondary mortgage market
What can the VA require a veteran do when applying for a loan?
A. make the down payment directly to the VA
B. make a down payment in cash
C. make the veteran immediately assume liability for the VA guaranty amount
D. NOT allow the veteran to make prepayments on the principal amount -
(ANSWER)C. make the veteran immediately assume liability for the VA guaranty
amount
Which of the following ways of advertising would be allowed under the Federal
Truth In Lending Laws (Regulation Z)?
A. $10,000 assumable loan in a working man's neighborhood
B. shady acres - $10,000 down
C. shady acres - guaranteed to double in value in 5 years
EXAM (TESTING REAL EXAM QUESTIONS) AND
VERIFIED ANSWERS (MULTIPLE CHOICES) |COMPLETE
SOLUTIONS |A+ GRADED |100% CORRECT!!
In doing a market analysis, you find a recently sold property where the owners
had just gone through a divorce. It was listed for $60,000 for 3 months but sold
for $40,000. Would you use this as a comparable?
A. no, because it had only been listed for 3 months
B. no, because of the divorce, it was not an arms length agreement
C. yes, you would use the actual sales price of $40,000
D. yes, because it was a comparable type property - (ANSWER)B. no, because of
the divorce, it was not an arms length agreement
A property was worth $289,000 if capitalized at 4%. What is it worth if it
capitalized at 5%?
A. $185,000
B. $231,200
C. $300,000
D. $325,000 - (ANSWER)B. $231,200
$289,000 x 4% = $11,560 divided by 5% = $231,200
,An heirloom chandelier in a house would be considered:
A. chattel
B. personal property
C. a fixture
D. a trade fixture - (ANSWER)C. a fixture
An owner of a life estate died and the land passed to the remainderman. What
interest would the remainderman receive?
A. estate in reversion
B. life estate
C. estate at will
D. estate in fee simple - (ANSWER)D. estate in fee simple
Which of the following BEST describes the extent of an owner's rights in land?
A. the surface of the land only
B. the land and five miles below certain mineral rights
C. the surface of the land up to infinity
D. the land from the center of the earth up to infinity - (ANSWER)D. the land from
the center of the earth up to infinity
, Which of the following does NOT make loans?
A. the secondary mortgage market
B. the federal reserve
C. savings and loans
D. commercial banks - (ANSWER)A. the secondary mortgage market
What can the VA require a veteran do when applying for a loan?
A. make the down payment directly to the VA
B. make a down payment in cash
C. make the veteran immediately assume liability for the VA guaranty amount
D. NOT allow the veteran to make prepayments on the principal amount -
(ANSWER)C. make the veteran immediately assume liability for the VA guaranty
amount
Which of the following ways of advertising would be allowed under the Federal
Truth In Lending Laws (Regulation Z)?
A. $10,000 assumable loan in a working man's neighborhood
B. shady acres - $10,000 down
C. shady acres - guaranteed to double in value in 5 years
