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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 tire company has a manufacturing plant located in an area that
has just been re-zoned for residential usage. The company is
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
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-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
-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
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-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?
-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
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-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
-metes and bounds system
-rectangular survey system
-geodetic survey system
-lot and block system - ANSWER-lot and block system
The Commission cannot have more than __________ members
from one political party - ANSWER-4
A parcel of land described as "the NW 1/4 and the SW 1/4 of
Section 6, T4N, R8W of the Third Principal Meridian" was sold for
$2,500 per acre. The listing broker will receive a 5% commission
on the total sales price. How much will the broker receive? -
ANSWER-$5,000
PERRY REAL ESTATE COLLEGE FINAL EXAM 2025/2026
NEWEST ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
A tire company has a manufacturing plant located in an area that
has just been re-zoned for residential usage. The company is
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
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-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
-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
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-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?
-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
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-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
-metes and bounds system
-rectangular survey system
-geodetic survey system
-lot and block system - ANSWER-lot and block system
The Commission cannot have more than __________ members
from one political party - ANSWER-4
A parcel of land described as "the NW 1/4 and the SW 1/4 of
Section 6, T4N, R8W of the Third Principal Meridian" was sold for
$2,500 per acre. The listing broker will receive a 5% commission
on the total sales price. How much will the broker receive? -
ANSWER-$5,000
