Gold Coast 45 Hour Exam Complete Questions and
Guide Answers, 100% Verified Graded A+
1. Property managers who are employed and compensated by community as- sociations are
required to obtain and maintain which type of license?
Answer: CAM
2. What term is used for the practice of specializing in one particular residential neighborhood or
type of property?
Answer: Farming
3. empty
Answer:
4. upon closing a sales transaction who pays the sales associate their contracted commission?
Answer: Employing Broker
5. Home sold for $250k with a garage, a home sold in the area for $230k with no garage. From this
information what can you determine the approximate value of the garage is?
Answer: $20000
6. which source will most likely produce the greatest # of potential buyers for a listing?
,Answer: Putting your listing on the MLS
7. The NAR code of ethics specifies duties of real-estate professionals according to ethical standard
of conduct. All of the following except?
Answer: Duties
8. What is primary purpose of building code regulations?
Answer: to protect public health, safety
and general welfare
9. which auction system is involved with the enforcement of liens due to bor- rower default?
Answer: Courthouse Auction
10. Which type of listing allows an owner to list his or her property with more than one broker?
Answer: Open Listing
11. Which investment term refers to an asset that cannotbe soldquicklywithout lowering the
price?
Answer: illiquid
12. Which home staging and prep tip is suggested to help make home more appealing?
Answer: Brighten room, cleaning window & turning on lights
13. What does a "double entry" refer to on a closing disclosure statement?
Answer: Ex-
, penses between two parties to the transaction, with no third party involved.
14. What are the benefits of using a VA loan in a transaction?
Answer: little to no money down and low interest rates
15. Whattypeofbrokeragebusinessspecializesinselling orleasing income-pro- ducing properties
such as malls, offices, restaurants, gas stations, and office towers?
Answer: Commercial Brokerage
16. Which of the following statement best describes the practice of steering?
Answer: Is the practice of directing homebuyers toward or away from homes in certain neighborhoods or in a multiunit building
in order to preserve or alter the makeup of that neighborhood with respect to race, religion, sex, or national origin.
17. It is important to qualify a seller by asking questions to understand there motiveand
expectations. Allofthefollowing would begoodquestionsexcept?
Answer:
18. Which is always actually paid by a buyer?
Answer:
19. A pool cost $25,000 to install on a property, but only adds $15,000 to the appraised value of
the p[roperty. This is an example of which appraisal princi- ple?
Answer: Contribution appraisal
Guide Answers, 100% Verified Graded A+
1. Property managers who are employed and compensated by community as- sociations are
required to obtain and maintain which type of license?
Answer: CAM
2. What term is used for the practice of specializing in one particular residential neighborhood or
type of property?
Answer: Farming
3. empty
Answer:
4. upon closing a sales transaction who pays the sales associate their contracted commission?
Answer: Employing Broker
5. Home sold for $250k with a garage, a home sold in the area for $230k with no garage. From this
information what can you determine the approximate value of the garage is?
Answer: $20000
6. which source will most likely produce the greatest # of potential buyers for a listing?
,Answer: Putting your listing on the MLS
7. The NAR code of ethics specifies duties of real-estate professionals according to ethical standard
of conduct. All of the following except?
Answer: Duties
8. What is primary purpose of building code regulations?
Answer: to protect public health, safety
and general welfare
9. which auction system is involved with the enforcement of liens due to bor- rower default?
Answer: Courthouse Auction
10. Which type of listing allows an owner to list his or her property with more than one broker?
Answer: Open Listing
11. Which investment term refers to an asset that cannotbe soldquicklywithout lowering the
price?
Answer: illiquid
12. Which home staging and prep tip is suggested to help make home more appealing?
Answer: Brighten room, cleaning window & turning on lights
13. What does a "double entry" refer to on a closing disclosure statement?
Answer: Ex-
, penses between two parties to the transaction, with no third party involved.
14. What are the benefits of using a VA loan in a transaction?
Answer: little to no money down and low interest rates
15. Whattypeofbrokeragebusinessspecializesinselling orleasing income-pro- ducing properties
such as malls, offices, restaurants, gas stations, and office towers?
Answer: Commercial Brokerage
16. Which of the following statement best describes the practice of steering?
Answer: Is the practice of directing homebuyers toward or away from homes in certain neighborhoods or in a multiunit building
in order to preserve or alter the makeup of that neighborhood with respect to race, religion, sex, or national origin.
17. It is important to qualify a seller by asking questions to understand there motiveand
expectations. Allofthefollowing would begoodquestionsexcept?
Answer:
18. Which is always actually paid by a buyer?
Answer:
19. A pool cost $25,000 to install on a property, but only adds $15,000 to the appraised value of
the p[roperty. This is an example of which appraisal princi- ple?
Answer: Contribution appraisal
