PRINCIPLES OF REAL ESTATE 1 FINAL EXAM QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GUARANTEED A+

QUESTIONS AND 100% CORRECT


If a real estate salesperson closes on a transaction, who pays the salesperson their commissio
B B B B B B B B B B B B B B



n? - ANSWER B B The salesperson's sponsoring broker
B B B




A means of comparing similar type properties, which have recently sold, to the subject proper
B B B B B B B B B B B B B B



ty is known as the? - ANSWER
B B B B B B Market Comparison Approach B B




The market comparison approach is commonly used for this property type? -
B B B B B B B B B B B



B ANSWER Residential



The amount of goods offered for sale within a given market at a given price during a given time
B B B B B B B B B B B B B B B B B B



B period is known as? - ANSWER B B B B B Supply



A real estate agent is an example of what type of agent? - ANSWER
B B B B B B B B B B B B B Special agent B




A refrigerator is typically considered? - ANSWER
B B B B B B Personal Property B




Mobile homes not permanently attached to the land are generally considered? -
B B B B B B B B B B B



B ANSWER Personal Property B




Which of the following is considered a legal test for determining if an item is a fixture or not? -
B B B B B B B B B B B B B B B B B B B



B ANSWER Mode and permanence of how the item was attached
B B B B B B B B




Adaptation of the item B B B




Intention of the parties B B B




All of the above
B B B




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, The right of exclusion, which allows a landowner to prevent others from entering or occupying
B B B B B B B B B B B B B B



B their property, is included in the? - ANSWER
B B B B B B B Bundle of rights B B




Which of the following is an example of a fixture? - ANSWER
B B B B B B B B B B B Kitchen cabinets B




Which of the following is an advantage to owning a home? -
B B B B B B B B B B B



B ANSWER Potential for asset appreciation B B B




Tax benefits B




Pride of ownership B B




All of the above
B B B




An individual who has not owned real property for at least the previous two years is known as
B B B B B B B B B B B B B B B B B B



a? - ANSWER
B B First-time homebuyer B




Which of the following is NOT a form of real property? - ANSWER
B B B B B B B B B B B B Cooperative



A form of ownership of real property recognized in all states that consists of individual owners
B B B B B B B B B B B B B B B



hip of some aspects and co-ownership in other aspects of the property is known as a? -
B B B B B B B B B B B B B B B B



B ANSWER Condominium



A mortgage payment typically includes? - ANSWER
B B B B B B Interest

Principal

Insurance



Real estate brokers have a ...... relationship with the principal? - ANSWER
B B B B B B B B B B B Fiduciary



The 'L' in the acronym C.O.A.L.D. stands for which fiduciary duty? - ANSWER
B B B B B B B B B B B B Loyalty




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