METRO BROKERS UPDATED QUESTIONS AND ANSWERS
GRADED A+
✔✔Which of the following relationships best describes a general agency?
A. A broker working for a buyer
B. A broker working for a seller
C. A broker working for an owner as a property manager
D. A broker working for both a buyer and a seller in the same real estate transaction -
✔✔C. A broker working for an owner as a property manager
✔✔A quit claim deed is generally used to: - ✔✔Remove a cloud on a title
✔✔A city government wants to encourage growth in a particular area and therefore
rezones the area. The government will most likely be exercising it's right of:
A. Police power
B. Escheat
C. Eminent domain
D. Condemnation - ✔✔A. Police Power
✔✔An effective residential property manager would often use all of the following,
except:
A. Accounting procedures
B. Knowledge of hazard insurance
C. Marketing techniques
D. Consumer price index - ✔✔D. Consumer price index
✔✔In the purchase of real estate, the buyer is probably acting in which of the following
legal capacities?
A. Grantor.
B. Testator.
C. Grantee.
D. Guardian. - ✔✔C. Grantee
✔✔A builder has seven houses under construction and hires a real estate agent to find
buyers for two of them. The type of agency relationship established was most likely
a(an): - ✔✔Special Agency
✔✔All of the following are typical provisions in a listing agreement, except:
A. Commission rate to be paid to the broker
B. Closing date of the sale
C. Names of the seller and broker.
D. Legal description of property. - ✔✔B. Closing dates of the sale
, ✔✔The method of land description that includes principal, meridians, and baselines is
called: - ✔✔Rectangle survey system
✔✔A valid written lease does not require: - ✔✔Signatures of both parties
✔✔Which of the following is less than a freehold estate, and does not require a
notification to terminate? - ✔✔Estate for years
✔✔Baird submits an offer to buy a house, giving the seller 24 hours in which to make a
decision. Under which of the following circumstances, would a contract be created?
A. The seller waits more than 24 hours before deciding to accept the offer.
B. The seller makes a counter offer to Baird with the sellers initials next to a new
proposed closing date
C. The seller accepts the offer only to discover that Baird has just died
D. The seller accepts Bairds offer as presented, and notifies him of the acceptance
within the time specified - ✔✔D. The seller accepts Bairds offer as presented, and
notifies him of the acceptance within the time specified
✔✔A seller who was recently divorced, received ownership of the property through the
divorce proceeding. She wants to sell the property, but her ex-husband's name is on the
original deed and she is unable to locate him. Her best action would be to: - ✔✔File a
quiet title action
✔✔ Which of the following is NOT considered to be an economic characteristic of land?
A. Scarcity.
B. Modification.
C. Location (situs)
D. Immobility. - ✔✔D. Immobility
✔✔A property is listed for $210,000. On March 1, the owner accepts of written offer for
$205,000, and the closing date is set for June 15. On March 15, it was announced a
new shopping center will be built near the property, and the owner believes that the
property is now worth $245,000. Which of the following should determine the amount
paid at closing? - ✔✔The amount specified by the accepted offer
✔✔Which of the following actions would NOT LIKELY create an agency relationship?
A. A broker shows several properties to a customer.
B. A broker agrees to find a buyer for a friends home for no commission.
C. A broker and seller sign a listing agreement.
D. A broker manages a client's rental property. - ✔✔A broker shows several properties
to a customer
✔✔A change in zoning from multifamily to single-family use would be an example of: -
✔✔Down-zoning
GRADED A+
✔✔Which of the following relationships best describes a general agency?
A. A broker working for a buyer
B. A broker working for a seller
C. A broker working for an owner as a property manager
D. A broker working for both a buyer and a seller in the same real estate transaction -
✔✔C. A broker working for an owner as a property manager
✔✔A quit claim deed is generally used to: - ✔✔Remove a cloud on a title
✔✔A city government wants to encourage growth in a particular area and therefore
rezones the area. The government will most likely be exercising it's right of:
A. Police power
B. Escheat
C. Eminent domain
D. Condemnation - ✔✔A. Police Power
✔✔An effective residential property manager would often use all of the following,
except:
A. Accounting procedures
B. Knowledge of hazard insurance
C. Marketing techniques
D. Consumer price index - ✔✔D. Consumer price index
✔✔In the purchase of real estate, the buyer is probably acting in which of the following
legal capacities?
A. Grantor.
B. Testator.
C. Grantee.
D. Guardian. - ✔✔C. Grantee
✔✔A builder has seven houses under construction and hires a real estate agent to find
buyers for two of them. The type of agency relationship established was most likely
a(an): - ✔✔Special Agency
✔✔All of the following are typical provisions in a listing agreement, except:
A. Commission rate to be paid to the broker
B. Closing date of the sale
C. Names of the seller and broker.
D. Legal description of property. - ✔✔B. Closing dates of the sale
, ✔✔The method of land description that includes principal, meridians, and baselines is
called: - ✔✔Rectangle survey system
✔✔A valid written lease does not require: - ✔✔Signatures of both parties
✔✔Which of the following is less than a freehold estate, and does not require a
notification to terminate? - ✔✔Estate for years
✔✔Baird submits an offer to buy a house, giving the seller 24 hours in which to make a
decision. Under which of the following circumstances, would a contract be created?
A. The seller waits more than 24 hours before deciding to accept the offer.
B. The seller makes a counter offer to Baird with the sellers initials next to a new
proposed closing date
C. The seller accepts the offer only to discover that Baird has just died
D. The seller accepts Bairds offer as presented, and notifies him of the acceptance
within the time specified - ✔✔D. The seller accepts Bairds offer as presented, and
notifies him of the acceptance within the time specified
✔✔A seller who was recently divorced, received ownership of the property through the
divorce proceeding. She wants to sell the property, but her ex-husband's name is on the
original deed and she is unable to locate him. Her best action would be to: - ✔✔File a
quiet title action
✔✔ Which of the following is NOT considered to be an economic characteristic of land?
A. Scarcity.
B. Modification.
C. Location (situs)
D. Immobility. - ✔✔D. Immobility
✔✔A property is listed for $210,000. On March 1, the owner accepts of written offer for
$205,000, and the closing date is set for June 15. On March 15, it was announced a
new shopping center will be built near the property, and the owner believes that the
property is now worth $245,000. Which of the following should determine the amount
paid at closing? - ✔✔The amount specified by the accepted offer
✔✔Which of the following actions would NOT LIKELY create an agency relationship?
A. A broker shows several properties to a customer.
B. A broker agrees to find a buyer for a friends home for no commission.
C. A broker and seller sign a listing agreement.
D. A broker manages a client's rental property. - ✔✔A broker shows several properties
to a customer
✔✔A change in zoning from multifamily to single-family use would be an example of: -
✔✔Down-zoning
