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PERRY REAL ESTATE COLLEGE FINAL EXAM 2025/2026
NEWEST ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
A lot with a depth of 80 ft and an area of 4,800 sg ft was sold for
$350 per front foot. What was the total sales price?
-$35,000
-$21,000
-$28,000
-$31,800 - ANSWER-$21,000
Which of the following has an indeterminable duration?
-estate for years
-license
-freehold estate
-less than freehold estate - ANSWER-freehold estate
A tire company has a manufacturing plant located in an area that
has just been re-zoned for residential usage. The company is
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allowed to continue operating the plant under the new zoning
classification. However, if the plant is destroyed by fire, the tire
company most likely - ANSWER-would be forbidden to rebuild the
plant in that neighborhood under any circumstances
CERCLA regulations for administration of the Superfund, which
helps pay for cleanup of uncontrolled hazardous waste sites, -
ANSWER-impose strict, joint and several, and retroactive liability
on potentially responsible parties
A principal broker must ensure that a personal assistant has
which of the following?
-reasonable access to his supervising licensee
-training
-reasonable supervision
-all of the above - ANSWER-all of the above
Advantages of an investment in real estate include all of the
following EXCEPT
-the use of leverage to increase rates of return
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-tax deductions
-the possibility of a tax-deferred exchange
-high liquidity - ANSWER-high liquidity
The defeasance clause in a mortgage requires the mortgagee to
execute a(n)
-assignment of mortgage
-satisfaction of mortgage
-subordination agreement
-partial release agreement - ANSWER-satisfaction of mortgage
Which of the following investments cannot be depreciated?
-commercial building
-single family home
-100 acres of vacant land
-shopping mall - ANSWER-100 acres of vacant land
a broker who is the agent of the buyer should do which of the
following?
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-present to the seller only offers that are acceptable
-disclose to the seller that the buyer is a minority person
-disclose to the seller the maximum price the buyer is willing to
pay
-advise the buyer if the listing price of the seller's house is
unrealistic - ANSWER-advise the buyer if the listing price of the
seller's house is unrealistic
a sales associate with one year of experience is managing a
broker's branch office, which is 45 miles from the main office.
Which of the following is TRUE?
-the sales associate is acting legally because she has enough
experience
-the sales associate is acting illegally because she does not have
enough experience
-the sales associate's experience does natter under license law
-none of the above - ANSWER-The sales associate is acting
illegally because she does not have enough experience
a recorded subdivision plat is used in the
PERRY REAL ESTATE COLLEGE FINAL EXAM 2025/2026
NEWEST ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
A lot with a depth of 80 ft and an area of 4,800 sg ft was sold for
$350 per front foot. What was the total sales price?
-$35,000
-$21,000
-$28,000
-$31,800 - ANSWER-$21,000
Which of the following has an indeterminable duration?
-estate for years
-license
-freehold estate
-less than freehold estate - ANSWER-freehold estate
A tire company has a manufacturing plant located in an area that
has just been re-zoned for residential usage. The company is
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allowed to continue operating the plant under the new zoning
classification. However, if the plant is destroyed by fire, the tire
company most likely - ANSWER-would be forbidden to rebuild the
plant in that neighborhood under any circumstances
CERCLA regulations for administration of the Superfund, which
helps pay for cleanup of uncontrolled hazardous waste sites, -
ANSWER-impose strict, joint and several, and retroactive liability
on potentially responsible parties
A principal broker must ensure that a personal assistant has
which of the following?
-reasonable access to his supervising licensee
-training
-reasonable supervision
-all of the above - ANSWER-all of the above
Advantages of an investment in real estate include all of the
following EXCEPT
-the use of leverage to increase rates of return
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-tax deductions
-the possibility of a tax-deferred exchange
-high liquidity - ANSWER-high liquidity
The defeasance clause in a mortgage requires the mortgagee to
execute a(n)
-assignment of mortgage
-satisfaction of mortgage
-subordination agreement
-partial release agreement - ANSWER-satisfaction of mortgage
Which of the following investments cannot be depreciated?
-commercial building
-single family home
-100 acres of vacant land
-shopping mall - ANSWER-100 acres of vacant land
a broker who is the agent of the buyer should do which of the
following?
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-present to the seller only offers that are acceptable
-disclose to the seller that the buyer is a minority person
-disclose to the seller the maximum price the buyer is willing to
pay
-advise the buyer if the listing price of the seller's house is
unrealistic - ANSWER-advise the buyer if the listing price of the
seller's house is unrealistic
a sales associate with one year of experience is managing a
broker's branch office, which is 45 miles from the main office.
Which of the following is TRUE?
-the sales associate is acting legally because she has enough
experience
-the sales associate is acting illegally because she does not have
enough experience
-the sales associate's experience does natter under license law
-none of the above - ANSWER-The sales associate is acting
illegally because she does not have enough experience
a recorded subdivision plat is used in the
