Insurance Exam
Questions with Verified Answers
100% Guarantee passing score of 90% or higher
Consist of 80 multichoice Questions with Answers
1. a broker charges a leasing fee of one-half of the first months rent and a
management fee of 8% of all rents collected. the broker negotiates a two-year
lease at a monthly rental of $550. which of the following amounts will the
broker earn on this lease
a. $1,378
b $1,331
c. $1,287
d. $1,056
Answer: B. $1,331
2. a property manager works in the BEST interests of the
,a. tenant
b. owner
,c. agent
d. bank
Answer: B. owner
3. in reviewing the deed to a listed property, a licensee noted a number of
limitations regarding its use. these limitations aare commonly known as:
A. Codicils
B. constraints
C. building codes
D. restricted covenants
Answer: D. Restricted covenants
4. the price at which a willing and informed buyer would buy and a willing and
informed seller would sell is called the
a. assessed value
b. book value
c. income approach to value
d. market value
Answer: D. market value
, 5. the income approach is MOST likely to be used when determining the value
of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment
Answer: B. office building
6. the G's purchased a house from the T's. the G's agreed to the following terms:
monthly payments of $650 to the T's and the balance to be paid in full after 7
years. at the time the balance is paid, the T's will give the G's a warranty deed
transferring title. in this situation, what type of financing was used
a. fha loan
b. wrap around mortgage
c. package mortgage
d. contract for deed
Answer: D. contract for deed
7. In stating a seller's price and terms to a prospective buyer, the seller's
broker is required by the law of agency to state ONLY those terms that are
Questions with Verified Answers
100% Guarantee passing score of 90% or higher
Consist of 80 multichoice Questions with Answers
1. a broker charges a leasing fee of one-half of the first months rent and a
management fee of 8% of all rents collected. the broker negotiates a two-year
lease at a monthly rental of $550. which of the following amounts will the
broker earn on this lease
a. $1,378
b $1,331
c. $1,287
d. $1,056
Answer: B. $1,331
2. a property manager works in the BEST interests of the
,a. tenant
b. owner
,c. agent
d. bank
Answer: B. owner
3. in reviewing the deed to a listed property, a licensee noted a number of
limitations regarding its use. these limitations aare commonly known as:
A. Codicils
B. constraints
C. building codes
D. restricted covenants
Answer: D. Restricted covenants
4. the price at which a willing and informed buyer would buy and a willing and
informed seller would sell is called the
a. assessed value
b. book value
c. income approach to value
d. market value
Answer: D. market value
, 5. the income approach is MOST likely to be used when determining the value
of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment
Answer: B. office building
6. the G's purchased a house from the T's. the G's agreed to the following terms:
monthly payments of $650 to the T's and the balance to be paid in full after 7
years. at the time the balance is paid, the T's will give the G's a warranty deed
transferring title. in this situation, what type of financing was used
a. fha loan
b. wrap around mortgage
c. package mortgage
d. contract for deed
Answer: D. contract for deed
7. In stating a seller's price and terms to a prospective buyer, the seller's
broker is required by the law of agency to state ONLY those terms that are
