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Exam Questions and Answers Graded A+
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic product.
B)
two successive quarterly increases in the gross domestic product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains. - Correct answer-B)
two successive quarterly increases in the gross domestic product.
Explanation
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,When consumers, lured by lower prices, venture back into the market, business
activity increases and confidence begins to return. Slowly, production facilities
gear up to meet the new consumer demand, capital begins to flow back into
business enterprises, and additional employees are hired.
The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. - Correct answer-B)
reserves for replacements, fixed, and variable.
Explanation
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,Operating expenses are divided into three categories: fixed expenses, variable
expenses, and reserves for replacement.
A person applies for a $300,000, 30-year fixed-rate mortgage loan at 4%. The
mortgage payment factor is .00477415. Taxes for the year are $4,000, and
insurance is $2,400. Her monthly payment for principal, interest, taxes, and
insurance (PITI) will be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58. - Correct answer-D)
$1,965.58.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, 58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000 taxes ÷ 12
months = 333.33. $2,400 insurance ÷ 12 months = 200. $1,432.25 + $333.33 +
$200 = $1,965.58 total PITI.
A sales associate receives a good-faith deposit from a buyer on Wednesday. The
broker must deposit the funds into the escrow account no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
D)
Friday. - Correct answer-B)
Monday.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
Exam Questions and Answers Graded A+
An economic recovery is defined as
A)
two successive quarterly declines in the gross domestic product.
B)
two successive quarterly increases in the gross domestic product.
C)
a period of higher housing prices.
D)
two successive periods of stock market gains. - Correct answer-B)
two successive quarterly increases in the gross domestic product.
Explanation
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,When consumers, lured by lower prices, venture back into the market, business
activity increases and confidence begins to return. Slowly, production facilities
gear up to meet the new consumer demand, capital begins to flow back into
business enterprises, and additional employees are hired.
The three types of operating expenses of an income property are
A)
fixed, debt service, and reserves for replacements.
B)
reserves for replacements, fixed, and variable.
C)
variable, income taxes, and fixed.
D)
reserves for replacements, variable, and income taxes. - Correct answer-B)
reserves for replacements, fixed, and variable.
Explanation
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Operating expenses are divided into three categories: fixed expenses, variable
expenses, and reserves for replacement.
A person applies for a $300,000, 30-year fixed-rate mortgage loan at 4%. The
mortgage payment factor is .00477415. Taxes for the year are $4,000, and
insurance is $2,400. Her monthly payment for principal, interest, taxes, and
insurance (PITI) will be
A)
$1,432.25.
B)
$1,773.64.
C)
$1,273.64.
D)
$1,965.58. - Correct answer-D)
$1,965.58.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, 58. $300,000 × .00477415 = $1,432.25 principal and interest. $4,000 taxes ÷ 12
months = 333.33. $2,400 insurance ÷ 12 months = 200. $1,432.25 + $333.33 +
$200 = $1,965.58 total PITI.
A sales associate receives a good-faith deposit from a buyer on Wednesday. The
broker must deposit the funds into the escrow account no later than the following
A)
Tuesday.
B)
Monday.
C)
Thursday.
D)
Friday. - Correct answer-B)
Monday.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
