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CE Final Exam RE TEST FINAL EXAM AND PRACTICE EXAM
20262027 BANK 2 VERSIONS QUESTIONS WITH DETAILED
VERIFIED ANSWERS EXAM QUESTIONS WILL COME
FROM HERE (100% CORRECT ANSWERS A+ GRADED
______ is a process in which an appraiser determines a probable range
of values for a property by comparing a group of comparable sales to
the subject. The appraiser attempts to include both superior and
inferior units of comparison, such as age, transaction price, etc.
Bracketing
Bridging
Substituting
Surrounding - ANSWER--Bracketing
The number of properties available describes this factor that influences
value.
Demand
Scarcity
Transferability
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Utility - ANSWER--Scarcity
Related to demand, and reflects the supply of property, or lack thereof.
Which of the following statements about agents and the duty of
obedience is true?
An agent can ignore a client's instructions if they negatively affect the
agent's commission.
An agent should carry out the client's instructions as long as they are
within the law.
An agent should never question a client's instructions.
The duty of obedience extends beyond the termination of the agency
agreement. - ANSWER--An agent should carry out the client's
instructions as long as they are within the law.
Carson is purchasing a $600,000 property by obtaining an 80/20 loan.
How much is Carson financing?
$120,000
$420,000
$480,000
$600,000 - ANSWER--$480,000
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Appraiser Niles uses ______ to determine a range of values based on
comparing a subject property to comparable sales. He makes sure to
use some comparables that lack features of his subject property, and
others that have even more desirable features, to balance out the
comparison.
Bracketing
Competition
Correlation
Substituting - ANSWER--Bracketing
What does REO stand for?
Real estate office
Real estate owned
Rental equality ownership
Rental equal opportunity - ANSWER--Real estate owned
What does the rectangular government survey system use as the basis
for legal descriptions?
Principal meridians, base lines, and sections
Reference to a subdivision plat
CE Final Exam RE TEST FINAL EXAM AND PRACTICE EXAM
20262027 BANK 2 VERSIONS QUESTIONS WITH DETAILED
VERIFIED ANSWERS EXAM QUESTIONS WILL COME
FROM HERE (100% CORRECT ANSWERS A+ GRADED
______ is a process in which an appraiser determines a probable range
of values for a property by comparing a group of comparable sales to
the subject. The appraiser attempts to include both superior and
inferior units of comparison, such as age, transaction price, etc.
Bracketing
Bridging
Substituting
Surrounding - ANSWER--Bracketing
The number of properties available describes this factor that influences
value.
Demand
Scarcity
Transferability
,2|Page
Utility - ANSWER--Scarcity
Related to demand, and reflects the supply of property, or lack thereof.
Which of the following statements about agents and the duty of
obedience is true?
An agent can ignore a client's instructions if they negatively affect the
agent's commission.
An agent should carry out the client's instructions as long as they are
within the law.
An agent should never question a client's instructions.
The duty of obedience extends beyond the termination of the agency
agreement. - ANSWER--An agent should carry out the client's
instructions as long as they are within the law.
Carson is purchasing a $600,000 property by obtaining an 80/20 loan.
How much is Carson financing?
$120,000
$420,000
$480,000
$600,000 - ANSWER--$480,000
, 3|Page
Appraiser Niles uses ______ to determine a range of values based on
comparing a subject property to comparable sales. He makes sure to
use some comparables that lack features of his subject property, and
others that have even more desirable features, to balance out the
comparison.
Bracketing
Competition
Correlation
Substituting - ANSWER--Bracketing
What does REO stand for?
Real estate office
Real estate owned
Rental equality ownership
Rental equal opportunity - ANSWER--Real estate owned
What does the rectangular government survey system use as the basis
for legal descriptions?
Principal meridians, base lines, and sections
Reference to a subdivision plat
