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Chapter 1 - Gold Coast Real Estate
Homework Questions and Correct
Answers/ Latest Update / Already Graded
Which of the following statements is true regarding a mortgage loan
originator (MLO)?
(a) A mortgage loan originator is the same as a mortgage broker.
(b) A mortgage loan originator must have a separate license.
(c) A mortgage loan originator makes loans.
(d) A mortgage loan originator must have a real estate license.
Ans: (b) A mortgage loan originator must have a separate
license.
A real estate appraiser's fee for professional service is based on which
of the following?
(a) A percentage of the property's gross income.
(b) A percentage of the fair market value of the property.
(c) The time and difficulty of the appraisal.
(d) A percentage of the property's sales price.
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Ans: (c) The time and difficulty of the appraisal.
Which of the following best describes the real estate brokerage
business?
(a) Service business
(b) Simple business
(c) Business with few opportunities available
(d) Construction business
Ans: (a) Service business
When a developer completes construction of a new subdivision, all
streets, electric, water, and sewer installation are finished and deeded
to the city or county. What is this process called?
(a) A quit claim deed
(b) An easement
(c) Dedication
(d) Annexation
Ans: (c) Dedication
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All of the following are responsibilities of a property manager, EXCEPT:
(a) Renting property for an absentee owner
(b) Collecting rent
(c) Overseeing maintenance
(d) Preparing leases
Ans: (d) Preparing leases
What does the term "farming" refer to in real estate?
(a) Specializing in one geographic area
(b) Working in a cooperative manner
(c) Specializing in agricultural properties
(d) Specializing in the sales of orange groves or cattle farms
Ans: (a) Specializing in one geographic area
Which insurance policies can a real estate licensee offer to the public
without additional state licensing?
All rights reserved © 2025/ 2026 |
Chapter 1 - Gold Coast Real Estate
Homework Questions and Correct
Answers/ Latest Update / Already Graded
Which of the following statements is true regarding a mortgage loan
originator (MLO)?
(a) A mortgage loan originator is the same as a mortgage broker.
(b) A mortgage loan originator must have a separate license.
(c) A mortgage loan originator makes loans.
(d) A mortgage loan originator must have a real estate license.
Ans: (b) A mortgage loan originator must have a separate
license.
A real estate appraiser's fee for professional service is based on which
of the following?
(a) A percentage of the property's gross income.
(b) A percentage of the fair market value of the property.
(c) The time and difficulty of the appraisal.
(d) A percentage of the property's sales price.
All rights reserved © 2025/ 2026 |
, Page |2
Ans: (c) The time and difficulty of the appraisal.
Which of the following best describes the real estate brokerage
business?
(a) Service business
(b) Simple business
(c) Business with few opportunities available
(d) Construction business
Ans: (a) Service business
When a developer completes construction of a new subdivision, all
streets, electric, water, and sewer installation are finished and deeded
to the city or county. What is this process called?
(a) A quit claim deed
(b) An easement
(c) Dedication
(d) Annexation
Ans: (c) Dedication
All rights reserved © 2025/ 2026 |
, Page |3
All of the following are responsibilities of a property manager, EXCEPT:
(a) Renting property for an absentee owner
(b) Collecting rent
(c) Overseeing maintenance
(d) Preparing leases
Ans: (d) Preparing leases
What does the term "farming" refer to in real estate?
(a) Specializing in one geographic area
(b) Working in a cooperative manner
(c) Specializing in agricultural properties
(d) Specializing in the sales of orange groves or cattle farms
Ans: (a) Specializing in one geographic area
Which insurance policies can a real estate licensee offer to the public
without additional state licensing?
All rights reserved © 2025/ 2026 |
